Egypt’s Top 50 Listed

Companies 2023

Events last year, including Russia’s invasion of Ukraine and the rising rate of inflation, put Egypt’s economy in severe trouble, leading to a foreign currency dry-up. The Egyptian pound has lost around 50% of its value against the dollar over the last 15 months.

These economic challenges have also left their mark on our annual list of Egypt’s Top 50 Listed Companies, with the value of aggregate sales for the 50 companies (in USD) falling by 16.3% to $32.7 billion. Profits also saw an 8.9% decrease to $4.9 billion, while the value of their total assets tumbled from $142 billion in 2021 to $109.2 billion in 2022, a 23.3% drop. Meanwhile, the combined market cap of the top 50 increased by 6.7% to $30.4 billion, with the main index (EGX30) jumping by 20% during the first five months of 2023

Banking and financial services continue to dominate the list with 16 entries, followed by real estate and construction with eight and industrials with seven. Egypt’s largest listed bank, CIB, retains the top spot with a market value of $5.2 billion and total assets of $20.6 billion, followed by QNB ALAHLI and Telecom Egypt. Ranked 10th, Orascom Construction tops in terms of sales after generating $4.2 billion, followed by Elsewedy Electric (#4) with $3 billion in sales in 2022.

1. Commercial International Bank (CIB)


3. Telecom Egypt

4. Elsewedy Electric

5. Egypt Kuwait Holding (EKH)

6. Ezz Steel

7. Faisal Islamic Bank of Egypt (FIBE)

8. Talaat Moustafa Group Holding (TMG Holding)

8. Misr Fertilizers Production Company (MOPCO)

10. Orascom Construction

11. Al Ezz Dekheila Steel Co. – Alexandria (EZDK)

12. Abu Qir Fertilizers and Chemical Industries Company (AFC)

13. EFG Holding

14. EMAAR Misr

15. Eastern Company

16. GB Corp

17. Housing & Development Bank (HDB)

18. Abu Dhabi Islamic Bank (ADIB-Egypt)

19. Egypt Aluminum (Egyptalum)

20. Crédit Agricole Egypt

21. Export Development Bank of Egypt (EBank)

22. Orascom Development Egypt (ODE)

23. alBaraka Bank Egypt

23. Palm Hills Developments (PHD)

25. Oriental Weavers

26. Egyptian Gulf Bank (EGBANK)

27. Sidi Kerir Petrochemicals Company (SIDPEC)

28. Alexandria Mineral Oils Company (AMOC)

29. Suez Canal Bank

29. Alexandria Container & Cargo Handling Company

31. Raya Holding

32. Société Arabe Internationale de Banque (saib)

33. Juhayna Food Industries

34. Edita Food Industries

35. Madinet Masr

36. Six of October Development & Investment Company (SODIC)

37. Egyptian Chemical Industries Company (Kima) *

38. Egyptian Satellites Company (Nilesat)

39. CI Capital Holding

40. eFinance Investment Group

41. Integrated Diagnostics Holdings (IDH)

42. Fawry for Banking and Payment Technology Services

43. Egyptian International Pharmaceutical Industries Company (EIPICO)

44. Egypt Gas

45. Contact Financial Holding

45. Misr Al-Gadida For Housing & Development *

47. Ibnsina Pharma

48. Egyptian Financial & Industrial Company (EFIC) *

49. Minapharm Pharmaceuticals

50. MM Group for Industry and International Trade (MTI)


We collected data from the Egyptian Exchange and ranked companies based on their reported sales, assets, and profits for 2022 and market value as of April 30, 2023. Each metric was given equal weight, and companies with the same final scores were given the same rank.

We excluded companies that hadn’t disclosed their 2022 full-year audited financial statements as of April 25, 2023. Currency exchange rates were taken as of April 30, 2023.


Forbes Middle East

© 2023 Forbes Middle East. All Rights Reserved.

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