Egypt’s Hatem Dowidar among top 10 of Forbes Middle East’s Top 100 CEOs 2024

16 / 08 / 2024

By Marwa Nassar - -

List includes Heads of Egypt’s NBE, Banque Misr
GAFI CEO on the list

Egypt’s Hatem Dowidar, CEO of Eisalat e& was among the 10 of the Forbes Middle East’s Top 100 CEOs 2024 which included 21 Egyptian figures.

Chairman of the National Bank of Egypt (NBE) Hisham Okasha and Chairman of Banque Misr Mohamed El-Etreby are among Egyptian figures on the list alongside Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI).

Hisham Talaat Moustafa, CEO of Talaat Moustafa Group Holding, was also among Egyptian figures on the list as well as Ahmed Elsewedy, President and CEO of Elsewedy Electric, and Said Zater, CEO and Managing Director of Contact Financial Holding.

The 2024 cohort consists of listees from 19 nationalities. Emiratis reign with 27 entries, followed by Egyptians with 21 and Saudis with 14. Together, the three groups make up 62% of the ranking, indicating the positive trajectory for localization in C-suite management. The banking sector has the most entries, with 19, followed by real estate with 10, reflecting the boom in the sector over the last two years. Among the top 10 alone, six different industries are represented.

Forbes Middle East has revealed its fourth annual list of the Top 100 CEOs in the Middle East, recognizing the chiefs accelerating achievements and successes of the companies they lead.
To develop this ranking, Forbes Middle East evaluated the CEOs using various metrics, including the individual’s accomplishments and implemented innovations over the past year, size of their company, and their impact on their firm and the wider industry. Only CEOs of companies headquartered in MENA were considered.

Methodology:
To create this ranking, Forbes sent out questionnaires and collected information from stock market disclosures, industry reports, annual reports, financial statements, and other primary sources. Only CEOs of companies headquartered in MENA were considered.

Forbes ranked the CEOs based on the impact that they have had on the region, their country, and the markets that they serve; the CEO’s overall experience and time in their current role; the size of the company in terms of revenues, assets, and market cap; the achievements and performance of the CEO in the last year; the innovations and initiatives that the CEO has implemented.

The Forbes Middle East list features many leaders whose influence extends far beyond normal business parameters. In this region, the government is often one of the biggest shareholders in the largest organizations, so while the business heads are committed to creating value for shareholders and other financial metrics, they also align with national interests and goals.

Many of the CEOs on the Forbes list also hold influential roles in government institutions. Out of the top 10 leaders, nine are from companies where the majority stake is owned directly or indirectly by the government.