Egypt’s economy went through a tough time in 2023, pushing the local currency to lose over 35.5% of its value between April 2023 and 2024. Consequently, the top 50 listed companies in our annual list saw their sales in USD shrink by almost 20% to $26.4 billion in 2023 compared to 2022, with their total net profits dropping by 9% to $4.5 billion.

Total assets also decreased by 18.1% to $89.4 billion in 2023, down from $109.2 billion in 2022. The total market cap of the 50 companies reached $29.4 billion as of April 26, 2024, a 3.3% decrease compared to a year earlier. However, excluding the foreign exchange effect, all financial metrics grew in local currency. Their aggregate market cap, sales, profits, and assets increased in EGP by 49.8%, 25%, 41%, and 27%, respectively.

The Commercial International Bank tops the list with a market cap of $4.7 billion and $17.4 billion in assets, followed by QNB ALAHLI and Elsewedy Electric. Real estate moguls Orascom Construction and Talaat Moustafa Group Holding are among the top 10, ranking fifth and sixth, respectively.

Banking and financial services dominate with 16 entries, having generated $8.4 billion in sales and $58.5 billion in total assets. Real estate and construction and industrials follow with nine and seven entries, respectively.