Ashraf Hamdy, CFO / Vice president finance

Ashraf Hamdy

CFO / Vice president finance

Oued Chbika Development Subsidiary of Orascom Development Holding

Location
Egypt - Cairo
Education
Bachelor's degree, Accounting
Experience
25 years, 5 Months

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Work Experience

Total years of experience :25 years, 5 Months

CFO / Vice president finance at Oued Chbika Development Subsidiary of Orascom Development Holding
  • Morocco - Casablanca
  • My current job since December 2009

 CFO/Board Director with proven success,
leading and directing finance and operations for one Euro billion international business units.
Demonstrated ability to provide vision, focus, and execution to achieve success in start-up, high growth and turnaround operations.
 Has a comprehensive knowledge and experience of all financial/management elements including business evaluation, merger and acquisition.
 Has a deep understanding and practice experience of Financial and managerial Reporting including IFRS as well as other GAAP, treasury management and tax management.
Responsibilities
• Directing and co-managed the startup and launch of a Greenfield investment of one billion Euro to build and manage a town of 2000 Real estate units, 8 Hotels, Marina, Golf course and related infrastructure.
• Identifying new business/ investment opportunities; preparing related feasibility studies, business plan and financial statements.
• Guiding, leading and developing a team of 20 employees, setting their objectives with clear associated measures.
• Co-managing multiple administrative tasks through an official MD power of attorney, tasks include HR activities, procurement, receivables management and signing sales contracts…
• Managing treasury ad funds from Bank Finances, shareholders, clients’ advances and suppliers’ payables through various financial instruments & derivatives.

Key Achievements:
• Engineered a merger with development banks and raised a fund worth 120M Euros needed to launch the construction of 3 Hotels in a green field project.
• Developed & implemented an integrated costing and internal control system for the startup of construction site that covers production units, support and facilities.
• Developed and automated for our startup business in Morocco an exceptionally complex reporting system that served a group of stakeholders including 3 main shareholders located in three different countries with varied reporting standards.
• Obtained a total exemptions of 20 Million Dirhams as a result of an extensive tax law searches & studies.

Chief Financial Officer AND BOARD MEMBER at Saudi Egyptian Touristic Development Co
  • Egypt - Cairo
  • June 2007 to December 2009

Al Anwa Holding 06/2007 - 12/2009 Egypt / Saudi Arabia
Saudi Egyptian Touristic Development Co.
(Owners of Grand Hyatt Cairo and Sheraton Hurghada)
Chief Financial Officer AND BOARD MEMBER

Developed a financial data base and new reporting system that worked as a foundation for determining past financial performance and future projections.

Internal Audit Manager > Financial Controller > CFO at Al Anwa Holding
  • Morocco - Casablanca
  • December 2000 to June 2007

Al Anwa Holding 12/2000 - 06/2007 Morocco
Beladi, Morocco.
Real estate Development, Morocco (Casablanca, Marrakech and Al Jadidia)



 Evaluated and sold Al Anwa business in Morocco with 100 % increase in Goodwill and 30% increase in the total price versus set target and top management expectations.

 Increased the profitability of real state projects from 15% to 35% due to the optimization of cost, control over all tenders, and the strong cash flow management in order to maintain the optimum leverage ratio to our capacity of constructions and sales

Senior Auditor at ernst & young (ey)
  • Kuwait - Al Zour Mina Saud
  • December 1999 to December 2000

Ernst & Young Kuwait and Egypt

Audit of high profile clients ( banks/ Construction /investment/ pharmaceutical)

Auditor at kpmg hazem hassan
  • Egypt - Cairo
  • September 1997 to September 1998

Audit of High profile companies ( Real estate and industry )

Education

Bachelor's degree, Accounting
  • at Ain Shams University
  • May 1997

May 93 - May 97: B.Sc. in Commerce Accounting Major - French section (Département de Gestion et de Commerce International.), Faculty of Commerce, Ain Shams University in association with la Fondation Nationale pour L'Enseignement de la Gestion des Entreprises (FNEGE) et l'IAE de Paris (Université panthénon-Sorbonne)

High school or equivalent, Science
  • at Collège De La Salle
  • June 1993

June 1993: Scientific Baccalaureate from Collège De La Salle (Les Frères)

Specialties & Skills

Financial Feasibility Studies
Financial Reporting
Project Turnaround
Profitability
ACCOUNTING
BUSINESS ANALYSIS
FINANCE
INTERNAL AUDIT

Languages

Arabic
Beginner
English
Expert
French
Expert

Training and Certifications

Accounting & Auditing I, II & III + Business planning methodology (Training)
Training Institute:
Ernst & Young
Date Attended:
May 1998
International Financial Reporting Standards Certificate (Training)
Training Institute:
Institute of Professional Accountants -Egypt
Date Attended:
May 2009
Treasury management and control / Managerial accounting and new cost methodology, (Training)
Training Institute:
Morocco
Date Attended:
May 2005
Business analysis (Risk Assessment, Control, Forecast, Markets, etc...) (Training)
Training Institute:
Institute of Professional Accountants -Egypt
Date Attended:
April 2008