Back to the complete issue
Monday, 16 January 2023

MAF gets a new CEO + Mopco appoints acting chairman, MD

Emirati retail conglomerate Majid Al Futtaim (MAF) has appointed Ahmed Galal Ismail (LinkedIn) its CEO, replacing Alain Bejjani (LinkedIn), who had headed up the group for eight years, the company announced in a statement Friday. Ismail has been CEO of MAF Properties since 2018. Bejjani was one of the country’s highest-profile CEOs and had been the face of the MAF brand around the world since 2015.

** We talked to Ismail about the future of retail in Egypt in our Making It podcast back in 2020. Listen to the episode here.

Mopco has appointed Hesham Nour El Dein (LinkedIn) as acting chairman and managing director, replacing Ibrahim Mahgoub, the company said in a statement (pdf) yesterday. Mahgoub left the company last month after being appointed chairman of the Egyptian Petrochemicals Holding Company (ECHEM).

The government has appointed Mohamed Eissa to liquidate Egyptian Iron and Steel, according to a bourse disclosure (pdf) filed by Metallurgical Industries Holding yesterday. He replaces Hisham Fahmy, who had held the role since June 2022.

Housing Minister Assem El Gazzar has appointed Maha Fahim as chairman of the General Authority for Urban Planning for a one-year term, according to a ministry statement.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.