Managing Director

• Jan 2023 - Present

Group Chief Financial Officer

• Dec 2021 - Dec 2022

A leading real estate group with annual sales of EGP3.6 Billion, and 450 Staff. Better home possess an impressive list of 30 projects in New Cairo, New Capital, and 6th of October. The group of companies specializes in the construction and operation of facilities that present a better way of living. Leading the Finance Function for 3 companies (Better Home, Better Office, Amoun for Real Estate, and Touristic Development). Redefined the finance role focusing on profitable growth and custodianship of shareholder’s value, becoming the trusted business partner to the chairman and the executive team. Achievements:  Bring EGP 100 Billion facilities (50% green facility with CBE Corridor finance rat only from NBE).  Driving business value through insightful financial analysis, resulting in 10% savings in cost.  Predicting different futures in line with the ever-changing business environment, resulting in taking the right investment and operational decisions.  Quantifying risks associated with investment decisions resulting in improving the business growth.  Redesigned the Finance reporting, applied IFRS, built new budgeting, and costing system, corrected fixed assets’ register mentoring, and drove SAP implementation.  Restructured the Finance function, mentoring the finance team on the updated standers and new ways of working that ultimately led to issuing comprehensive monthly financial reports on position with ultimate integrity.  Built a new Cash Flow system & processes, enhancing cash management that resulted in controlling and monitoring the payments to contractors and suppliers which has Improved CCC while maintaining suppliers’ satisfaction.  Continuously working on decreasing the cost of financing, successfully negotiated green facilities on a major project. Show less

CEO & Member of Board of Directors

• Sep 2017 - Nov 2021

Achievements:  Turnaround the company losses to profitability, transitioning from EGP -30M to EGP 140M,  Amplified the turnover by 200% from EGP 400M to EGP 1.2 Billion.  Saving EGP 100M Cash (convincing clients not to deduct the 5% Retention - Construction Norm & replacing it with the performance bond).  Established Innovation Committee to add new products and activities.  Creating budgeting & planning system from scratch, achieving 100% of 2019 budget, and 2020 budget.  Implementing SAP for all company activities, creating new COA, profitability centers, reporting & procedures.  Collaborate cross-functionally to identify & plan for new business opportunities to boost profitability.  Enhanced company cash management, by creating cash flow system, cultivating good working relationship with banks (increasing facilities by EGP 1 Billion from bank & suppliers, reducing finance cost, controlling cost, enhancing collection follow-up).  Significantly reduced VAT from 14% to 5%. & logistic costs from 2,5% to 1.16%), maintain zero demurrages fees.  Built new financial strategies, financial analysis, financial systems, reporting system.  Initiated new monthly Business Review Meetings to discuss all financial matters & operational performance.  Developed new Objectives & KPIs for all departments, new commission scheme for all commercial departments, and new bonus structure for all employees & profit share system for managerial levels.  Solved 100% of year 2018 & 90% of year 2019 Weakness (Has identified through SWOT Analysis).  Awarding # 1 on Middle East Sales’ Agent for Mitsubishi Power Generators in year 2019.  Creating new marketing strategy by promoting our value, and quality of work, using Nielsen for making marketing research, boosting our positioning by increasing our consultants and clients’ awareness, events & travelling our stockholders.  Functioned as Group CFO, managing financial sustainability, driving financial performance & maximizing ROI. Show less

Chief Finance Officer & Member of Board of Directors

• May 2010 - Aug 2017

 Principal Member of the BOD, advising the CEO and other board members on achieving the corporate vision, executing business strategy and highlighting the financial implications of key business decisions.  Implement continuous improvement strategies through financial system revamp, internal control, adhering to company policy and regulatory norms.  Responsible for risk management tasks that include CAPEX decisions, board approvals and following precise accounting practices.  Developed accurate forecasts that proved to be an essential tool for controlling business, monitoring performance, identifying deviations and taking corrective measures.  Implemented cost control techniques, reduced purchase costs through negotiations, obtaining favorable commercial terms and on-boarding new suppliers.  Developed and implemented a robust and user-friendly reporting system that enhanced the quality of results in monetary terms.  Instrumental in the implementation of Oracle Financial ERP system across all Group companies, and generation of reports using Oracle Discoverer.  Key authority in enforcing SOX (Sarbanes-Oxley) Controls in explaining company policies to employees and administering safety regulations.  Affected 20% reduction in DSO.  Drive implementation of strategic business & operational plans, key projects, improvement programs & financial systems.  Monitor KPIs of strategic business units, measure risk parameters, review plans with a view to maximize wealth & increase shareholder value.  Participate in contract negotiations to ensure minimum variance.  Responsible for maintaining a positive cash position, managing treasury operations and improving ROI & liaising with banking and financial institutions for term loans, OD and working capital.  Directing generation of monthly financial reports to evaluate performances in order to enable management decision-making.  Leading budget preparation, forecasting, and controlling operating expenses. Show less

Financial Controller

• Aug 2005 - Apr 2010

Achievements:  Resolved critical cash crunch encountered during mega projects by renegotiating commercial terms with 4 major banks; coordinated payment schedules at both ends (customers as well as banks) and running operations profitably.  Developed and brought in force a new financial system (SAP ERP System) that facilitated easy financial data recording and retrieval, and accurate report generation.  Introduced various systems and procedures that improved operational efficiency. These comprised inventory and stores, financial reporting system and financial policies and regulations.  Established a high-performing finance team, educated them on monitoring processes and systems used.  Ensured that strategic plans act as a vital feedback-and-control tool.  Assessed company requirements and designed a Bl platform to monitor P&L performance.  Traveled to Romania to solve a critical cash flow problem of an important supplier and ensured timely completion of a major order. Key Responsibilities • Managed finances for projects ensuring adequate cash flows, minimized risk of default, penalties, managed banking relations, procured favourable terms on long-term loans and negotiated interest rates on working capital. • Ensured compliance with statutory regulations and reporting norms that included taxation, dividends and books of accounts. • In-charge of budgetary control, directed preparation of annual budgets, minimized variances based on fortnightly/ monthly budgetary analysis. • Enforced adherence to standard accounting practices in preparation of financial statements and guaranteed deadlines were met during monthly and year-end closing and audits. • Directed preparation of accounting and costing projections and verified whether these estimates could be translated into specific financial goals. • Attended annual general meetings and presented company performance reports to shareholders and investors. Show less

Group Chief Financial Officer

• Oct 2003 - Jul 2005

Achievements:  Led 9 Co.'s of the Group, handled diverse activities, reviewed & revamped business processes to ensure smooth operational workflow & profit increment.  Led a comprehensive group financial restructuring exercise of SR 700M business. Managed group cash flows, increased facilities by 40%, boosted sales by 20% that generated a profit of SR 140M  Implemented new Financial ERP System, with a new financial system to generate detailed reports  Modified Group investment method from Long term to short term investment  Successfully completed Group restructuring. New entities with independent existence were formed 2 Holding Companies & determined allocation of shares in every Co.  Developed a model to deploy strategic plan & annual budgets by country & activities, delivered a 5-year strategic plan, including new product launches  Established new avenues for income generation: Establishing new tourist Co. & Mall, developing new activity on Real Estate Project  Acquired favourable terms and services from banks resulting in reduction in collateral time deposits from initial 70% to 30%  Travelled to England to hold strategic discussions with HSBC regarding the new Trust Wealth Wallet Structure for investment & capital expenditure planning  Consistently travelled to Group SBUs in Syria & Jordan, monitored operations & conducted performance analysis Key Responsibilities:  Identified critical business drivers, charted out the growth path for the Co. & defined performance metrics  Conducted training for the finance unit on raising awareness & knowledge of financial management matters  Worked closely with the President on the strategic vision including fostering & cultivating stakeholder relationships on city, state, and national levels, and assisted in contract management  Established financial management mechanisms to mitigate financial risks  Conducted reviews & evaluations to identify cost-reduction opportunities & implemented cost control measures. Show less

Finance Manager

• Nov 2000 - Sep 2003

Achievements:  Commenced new B2B business in Egypt.  Made a compelling case to tax authorities and procured tax exemption.  Established finance department from scratch including designing new accounting system (COA, CC, Documentary cycle, …), recruited, inducted, and trained a qualified team of finance professionals.  Identified new business opportunities based on current market trends and made detailed presentations to BOD on financial feasibility.  Headed the Oracle Financial ERP system implementation team.  Designed & Integrated new supporting software that included fixed assets and invoicing program. Key Responsibilities • In-charge of the entire spectrum of risk management activities that involve strategic, financial, operational, development, and commercial risks. • Prepared accurate management accounts that reflected the financial position of the joint ventures, projects, and operating assets, and the consolidated position. • Supported various development and redevelopment projects across the business unit • Assessed and evaluated development feasibility cost and revenue budgets, forecasts and prepared project scorecards. • Monitored and reported project financial performance (actual vs budget and forecasts), detected variances and managed project financial risks to maximize shareholder wealth. • Handled company’s annual budgets, conducted quarterly reviews, variance analysis, developed capex proposals, IRR Proposals for new projects. • Monitored banking activities of the organization and ensured adequate cash flow to meet the organization's needs. Show less

Group Internal Control Director

• Jan 1998 - Oct 2000

Achievements:  Provided decisive and tactical leadership to 3 companies of the Group; streamlined the functioning of these SBUs and ensured superior business performance.  Established essential systems and departments to facilitate streamlining operations: - Finance department that involved designing accounting system, financial reports, costing system - HR department, that involved organization chart & detailed job descriptions for staff and line management - Management reporting system that involved discussion with departmental heads regarding monthly performance.  Devised new policies & procedures, including Authority chart, forms & reports for all departments.  Built and actualized effective controls that proved to be an early warning mechanism to detect frauds. Key Responsibilities • Effectively managed cash flows, controlled overhead expenses, established credit policies for customers and negotiated with major vendors to achieve favorable payment terms. • As part of audit requirements, obtained reasonable assurance for Organizational Structure, Purchasing and Warehouse’s Policy, Financial Policy, HR policy, company assets, data integrity, resource utilization. • Prepared audit plans and audit schedules, generated audit report highlighting observations and recommendations. • Implemented remedial measures based on audit findings. • Prepared annual budgets, conducted variance analysis and presented corrective measures during budget review. Show less

Experienced Senior Consultant

• Oct 1992 - Dec 1997

Key Responsibilities • Provided consultancy and advisory services to highly reputed firms that included designing financial & costing systems, re-evaluation studies of assets & liabilities, internal controls, policies & regulations studies • Analyzed existing financial systems, automated documenting and record keeping and designed new systems; developed and implemented accounting procedures, chart of accounts, SBU cost centers, hierarchy and documentation. • Effected cost reduction, optimized SBU costs and implemented robust cost minimization systems that included sub-modules actual cost computation, direct & indirect cost identification mechanism resulting in accurate determination of cost / unit, cost control, decisions and policies. • Developed financial policies and internal controls to ensure compliance with standard accounting practices and financial regulations. • Provided key inputs for strategic planning and led problem solving initiatives, opportunity assessment, and analyzed environmental trends and internal core competencies. • Participated in projects - defined project scope, formulated project plans and identified priorities to guide teams. Consulting & Audit Assignments across career Audit Assignments: Cairo Beverage & Ind. Co. (7 up), Miser Co. for Soft Drink & Food (MISROOB), Pfizer Egypt, Miser Golf Oil Pro. Co., Halwani Bros. Co., Miser Air Conditioning Mfg. Co. (Miraco), Arabian International Construction & Development Co., Amanco for Construction, Financial System Design & Implementation: El Sewedy for cables, Tam Oil Field Services, Mostafa Aly for Modern Lighting Costing System Design & Implementation: Sally Miser El-Kuwait Manufacturing, Sheeba International Garment Co., Arab Swiss Engineering Co., General Land Reclamation, Regwa, Suez Bags System Design & Implementation: Only Ties (Financial System), Khedr Factory (Financial System), Suez Bags (Costing System), General Land Reclamation (Costing System), Regwa (Costing System) Show less

Audit Senior

• Jan 1990 - Sep 1992

Key Responsibilities • Rendered advisory services to various prestigious firms across business verticals like manufacturing, pharmaceutical, trading, service, contracting, oil & gas and automotive. Services encompassed audit, planning, preparation, review and analysis of financial statements. • Monitored and analyzed internal control measures to gauge their efficacy and compliance with prevalent regulatory environment. • Conducted detailed financial analysis to assess the financial condition of the company; analytical tools employed included ratio analysis, time series analysis. • Monitored budgets, compared actual with budgeted figures, identified and analyzed variances and provided detailed explanations for the same. • Ensured compliance with internationally accepted accounting and financial standards like EAS, IFRS, US GAAP during the preparation of annual consolidated financial statements and reports. • Supported and collaborated with the audit leader to define audit scope and methodology, completion of audit documentation and conduct of audit. • Attended several trainings (Auditing & Accounting, Internal Control Evaluation) conducted by the organization and constantly upgraded skills and knowledge. Show less