At this year’s EnterpriseAM Egypt Forum: The AI edition we asked three business leaders how they are approaching a year shaped by technological change, regional uncertainty and inflationary pressures. EFG Holding Group CEO Karim Awad, Marakez Executive Vice Chairman Dasha Badrawi, and Orange Egypt CEO Hesham Mahran discussed where AI fits into their businesses and Egypt’s investment prospects.

AI is already part of the working day. Awad uses it to streamline corporate tasks and prepare board documents; Badrawi asks it to challenge his optimism about Egypt; and Mahran uses it to prepare for senior-level meetings. Beyond their own desks, the technology is used throughout their organizations for everything from informing investment decisions to developing customer offers, and guiding employee training.

But does it make the top two priorities for 2027? For Mahran, the answer is yes. Orange is using AI across its network, commercial operations, and HR, and has hired a chief AI officer. “AI is not an option,” he told our audience. Directing network investment more effectively is already delivering results in traffic, revenues, and customer satisfaction, while personalized offers create opportunities to grow the top line.

The applications extend to public services. Mahran pointed to Ask Mariam, an AI travel assistant at Cairo International Airport, and an interface for public prosecution services, both of which offer examples of how Orange is working with the government, and developing use cases for consumers and businesses.

For Marakez, the priorities remain land and people. “We're a real estate company, so improving our land bank is our top priority,” Badrawi said. “Followed by improving the team through recruitment, retention, and development but is AI replacing the lifestyle malls that we're building, the homes that we're creating, or the spaces that we've developed to bring people together? The answer is no but it’s a tool, and we have to use that tool to improve our businesses.”

Awad takes a similar view: “AI is not a top-two priority for 2027 but technology as a whole is playing a more important role in our business on a daily basis,” Awad told us. Departments identify their own training needs, supported by dedicated AI professionals. Badrawi also expects younger employees to drive adoption: “I think it's going to be a bottom-up, more than a top-down-led, approach.”

Could regional instability create an opening for Egypt? Badrawi believes the country could emerge as a net beneficiary as perceptions of the Gulf as a safe haven come under pressure. He sees money returning through investment and remittances, with opportunities extending beyond real estate. Higher oil prices and currency pressures remain challenges, but Egypt’s market size and relative stability could strengthen its appeal.

Orange is putting money behind that opportunity. Of the group’s EUR 50 mn allocation for investment in African startups, half is directed to Egypt, Mahran said. It also plans to train 200k people over the coming years. “Investing in talents is really key, and using Egypt as a hub is another important point,” he added.

Data centers could be part of that story. Egypt’s renewable energy potential, available land, submarine cable connections, and talent are drawing greater attention from hyperscalers, Mahran said. He expects further developments as investors reconsider Egypt as a location for AI infrastructure.

For Awad, policy consistency is the strongest signal to investors. The central bank’s commitment to a flexible exchange rate through the war has helped build confidence, he argued. “The message that it sent to the global investor base was super important.” He also pointed to investment in greenfield and brownfield projects, including activity in the Suez Canal Economic Zone.

And the IPO pipeline is building. EFG Holding has three further IPOs in its pipeline, hopefully before year-end, following offerings including Gourmet and MNT-Halan, Awad said. He didn’t provide further details other than to say that one of the IPOs could be among the largest Egyptian listings in USD terms in 15-20 years. A week later Banque du Caire (BdC) released its intention-to-float notice for 30% of its shares. The stake is worth approximately EGP 24 bn (c. USD 460 mn), according to our calculations. That’s around triple the USD 150 mn on offer in MNT’s IPO, making it the EGX’s largest debut in USD terms since eFinance in 2021.

What about the consumer? Spending at Mall of Arabia rose around 30% y-o-y on a like-for-like basis, Badrawi said. District 5 recorded roughly 50% growth, although an expanded offering means that comparison is not like-for-like. Higher traffic appears to be driving much of the increase. A sustained recovery in discretionary income would make a stronger case for growth.

That could mean more room for physical retail. After several years focused on protecting and preserving value, Badrawi sees a case for expanding Marakez’s consumer-facing business. For property buyers, his advice was be selective: “Decide where you think the quality providers are and buy there.”

Consumer finance is also on Orange’s agenda. The company is considering partnerships, acquisitions, or building its own business, Mahran said. Awad, acknowledging EFG’s exposure to the sector but sees no bubble and pointed to low default rates. He also called for greater support for microfinance to help underserved small businesses grow.

Orange’s next ambition: exporting IT services. The business has grown from a small operation in 2021 to around half or more of enterprise revenues, Mahran said. “We're better value — we're not cheap — but we're better value.”

Planning still comes down to currencies and salaries. When asked where they think the EGP will be by year-end 2027, Awad cited economists’ end-2027 forecasts of EGP 52-54 per USD if the war continues, or EGP 49-51 if it ends. Badrawi suggested EGP 55-60; Mahran is budgeting around EGP 53-54. On raises, Mahran considers 20% fair, Badrawi expects increases more inline with inflation, and Awad said EFG’s lowest-paid employees would receive the largest percentage increases, while its highest-paid employees would get none.

Tap or click here to read the panel’s full transcript.