4 Egyptian companies in top 100 powerful companies in MENA

CAIRO – 19 June 2018: Forbes Middle East Magazine published two lists of top 100 most powerful public companies and top 50 private companies in the region.

The list of the most powerful 100 public companies included four Egyptian companies, which are Commercial International Bank (CIB), El Sewedy Electric Co., Orascom Construction Limited and Global Telecom.

The Commercial International Bank (CIB) ranked no. 38 on the list with net profit of $421 million, sales of $1.8 billion and total assets of $16.4 billion.

Sewedy Electric came in the 69th place with net profit of $362 million, sales of $2.4 billion and assets of $2.4 billion.

Orascom Construction Limited came in the 82nd place with net profit of $85 million, total sales of $ 3.7 billion, and asset value of $2.9 billion, while Global Telecom Holding Company came in the 95th place with assets of $5.3 billion.

The first ten companies are Saudi Basic Industries Corporation (SABIC), National Bank of Qatar, First Abu Dhabi Bank, National Commercial Bank (Saudi Arabia), Saudi Electricity Company, Al Rajhi Bank (Saudi Arabia), Etisalat (UAE), Emirates NBD National Bank, Saudi Telecom, and National Bank of Kuwait Group.

The most powerful companies in the Middle East marked growth in four main indicators which are revenues, net profit, market value and assets.

The total assets of the 100 most powerful companies increased by about $200 billion to $2.9 trillion, in which Saudi companies, led by SABIC, dominate one third of the list. More than half the companies in the list work in the banking and financial services sector.

As per the top 50 private companies list, it included one Egyptian company which is Mansour Group; UAE's Al-Futtaim Group came at the top of the list.

The listed companies on the top 50 private companies list were selected according to a set of criteria, namely the number of employees, the number of sectors and countries in which the company operates, transparency and history.

In April, Forbes magazine estimated that there are a total of 31 Arab billionaires with a total wealth of $76.7 billion.

Egyptian businessman Nassef Sawiris ranked first in Arab’s billionaires list in 2018 with an estimated wealth of about $6.6 billion (LE 116.17 billion), and an increase of $1 billion, compared to his wealth in 2017, according to Forbes Magazine.

Forbes’ Arab Billionaire List also included two other Egyptian businessmen who are Naguib Sawiris at the fifth place with a wealth of $4 billion and Mohamed Mansour, who came at the tenth place with $2.7 billion.

UAE businessmen Abdullah bin Ahmed el-Gareer and Majid al-Futtaim came second and third in the list with $5.9 billion and $4.6 billion, respectively.