Madbouli names Mohsen Adel as new CEO of GAFI

CAIRO – 31 July 2018: Egypt’s Prime Minister Mostafa Madbouli issued a decision Tuesday appointing Mohsen Adel Helmey as chief executive officer (CEO) of the General Authority for Investment and Free Zones (GAFI), for one year.

Mohsen was announced to replace former CEO of GAFI Mona Zobaa.

In 2017, Mohsen hold the post as Chairman of the Egyptian Exchange (EGX) for a transitional period, due to the absence of the chairman of the bourse.

On July 19, Ismail approved the appointment of Mohsen Adel as vice chairman of the EGX for four years.

Minister of Investment Sahar Nasr clarified earlier that the decision was taken in accordance with the terms of Article 9 of the presidential decree No. 274 of 2017, which regulates the work of the EGX and gives the vice-chairman the right to manage the EGX temporarily in case of the chairman’s absence.

Mohsen has 19 years of experience in stock markets and securities in addition to his post in the EGX as a board member until June 30, 2017.