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Power 60 Power 60 2017

#4 Egyptian Steel

When you are able to call on the services of one of the world’s biggest sport stars in Cristiano Ronaldo to rally a generation of young Egyptians then you know that your company has arrived on the global stage. Archetypal business man and entrepreneur, CEO Ahmed Abou Hashima is determined to continue Egyptian Steel’s development into a world-class steel producer and is driving the group towards an annual production capacity of 2.3 million tons of rebar, wire rods and billets by 2018 – once its new Al Sokhna plant comes fully online.

His company will soon reach a 20% share in the steelhungry Egyptian market making it one of the leading makers of reinforced steel in the region. Abou Hashima describes Egyptian Steel as representing Egypt’s 90 million-strong population as his company pushes forwards. As such the company has developed one of the region’s outstanding CSR programmes, donating steel and funding the development of poor areas of the country.

Abou Hashima signed of a deal with charity Orman which will see the company invest $6.5mn to help the construction of 40 villages in the country. Rather than competing with the huge volumes of giant steel-makers like Tata Steel, his company is wisely focused on making high quality steel rebars using environmentally-friendly technology and sustainable production.

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