Are you looking for the top ten largest employers in Egypt? If yes, check out this post to get the list and essential details about each company!
Top 10 Largest Employers in Egypt
Egypt is home to some of the largest companies in the Middle East. These companies offer products and services in different industries. So, without further ado, let us highlight the companies and their services. Read on!
1. Telecom Egypt
Telecom Egypt provides fixed-line, mobile, and data services. The company owns 45% of Vodafone Egypt’s shares; it obtained a 4G mobile license at the end of 2015 and began offering mobile services in 2016. In 2021, data revenue grew 30%, and infrastructure revenue grew 25%, and revenue grew 17% to $2 billion. The company is now 80% owned by the Egyptian government.
2. EFG Hermes Holding
EFG Hermes Holding is one of Egypt’s most reputable financial institutions and the Middle East. It has more than six thousand employees working in 13 countries, including Egypt, UAE, Kuwait, Saudi Arabia, and Pakistan. In addition, it acquired a 51% stake in the Arab Investment Bank in 2021.
3. Commercial International Bank
Commercial International Bank was founded in 1975 as a joint venture between the Chase Manhattan Bank and the National Bank of Egypt. Today, the bank employs 7,300 people and serves more than 1.7 million customers in 213 branches.
4. QNB ALAHLI
Qatar’s QNB Group acquired a majority stake in NSGB Bank and changed its name to QNB ALAHLI. The bank serves more than 1.5 million customers through a network of 230 branches and employs more than 6,990 people. It partnered with Instapay in March 2022 to launch an instant payment service that allows customers to transfer money between their accounts and those of other member banks.
5. Elsewedy Electric
Eighty years ago, the Elsvedi family founded Elsvedi Electric as a manufacturer and distributor of electrical components. Since then, the company has evolved into a global supplier of integrated infrastructure, energy, and digital solutions. The company has offices in Egypt, the Gulf States, Africa, Asia, Europe, the United States, New Zealand, and Australia.
6. GB Auto Group
GB Auto Group offers services in GB Capital and GB Ghabbour. These are the two primary entities in which this company provides services, but it has five subsidiaries, including Drive, GB Lease, Haram Tourism, Mashroey, and Tasaheel. The group has direct sales in various Middle Eastern countries, including Egypt and Iraq. It is a major shareholder of RG Investments.
7. Eastern Company
It is the only local cigarette manufacturer in Egypt, producing 70 billion cigarettes and selling nearly 67 billion cigarettes in 2021. Eastern Company signed an agreement with Al Mansour Distribution Company to manufacture the Evolve brand, an Imperial Tobacco Group product.
8. Orascom Construction
Founded over 72 years ago by the late Onsi Sawiris, father of the Arab world’s richest billionaire, Nassef Sawiris, Orascom Construction signed new contracts worth US$3 billion in the Middle East in 2021. Orascom Construction owns a 55% stake in the BESIX Group, with a portfolio that includes facilities management, construction materials, and equipment services.
9. Ezz Steel
Ezz Steel has an annual production capacity of seven million tons of finished steel products; in 2021, the company produced three million tons of long and four million tons of flat products. Sales increased 75% in 2021. Ahamed Ezz, the company’s founder, owns more than 60% of Ezz Steel.
10. Emaar Misr
Emaar Misr is one of the largest employers in Egypt. The company plans and constructs different projects in Egypt, particularly in the urban areas. The company has a strong affiliation with Emaar properties, owning an 88% stake. Moreover, its real estate investment reached a whopping $119.6 million in 2021, compared to $56 million in 2020.
Egypt has a favorable business ecosystem, allowing businesspeople to start and run lucrative companies. We have listed the largest employers or companies in Egypt for your inspiration. Until Next Time!
- Article based on personal opinion, experience and research.
- Photos from Unsplash & canva.