Group Chief Financial Officer
El Sewedy Electrometer Group SAE (Egypt)
Total years of experience :28 years, 4 Months
El Sewedy Electrometer Group (EMG) is a market leader in providing state of the art Metering solutions and Energy Management Services that are tailored to Manage Utilities Better. EMG is currently serving its customers in 58 countries around the world through 1, 600 highly qualified and experienced experts based in 10 factories located in Egypt, Czech Republic, Mexico, Brazil, India, Ghana, Zambia and Ethiopia. EMG’s constantly growing services spectrum and geographical footprint has been the main driver behind its Strategic investments, alliances, joint ventures and acquisitions to ensure serving Utilities around the world at their door step.
Summary of major challenges, achievements & responsibilities:
• Directly reported to the Group CEO, to drive the implementation of the group strategic vision across all group companies, and to lead all global financial activities, including Accounting, Finance (Treasury, Trade Finance), Planning, Controlling, Consolidation, Reporting, Tax Planning, and Working Capital Strategies.
• Hand in Hand with the Group CEO Leading global negotiations with financial institutions & Banks and introducing our group new corporate profile, strategic alliances, industry trends and updates across the globe.
• Restructured the parent company debts with banks and renegotiated new stretched repayments schemes to give a relief to the company tight working capital.
• Negotiated new banking facilities and projects’ funding for the group companies in Egypt, Ghana, Zambia, and India.
• Attended all periodic Executing Committee meetings, BoD’s and Shareholders’ meetings of all group companies and presented the quarterly results Budgets, and Business Plans to the Board of Directors.
• Headed the Restructuring of the Corporate Finance Organization with the outsourced Management Consulting Firm and generated a Role Model for the Finance Division Structure that suites the business and industry line as well as all functional reporting models and lines across the Group of companies
• Developed Detailed Job Descriptions using Competency Models, identified required staff trainings, succession plans for each function within the Finance Organization, and streamlined the division unified policies, procedures and Inter-company SLAs.
• Designed detailed sophisticated yet meaningful & Dynamic Cash Flow Model to enable the CEO and management to monitor the business working Capital Activities at ease of pressing a button.
• Successfully aligned all business stakeholders and division heads to the group new way of conducting disciplined business transactions and transformed the culture of being Sales & Revenue Centric to culture of Profitable Business Growth Centric.
• Overhauled the Treasury activities and its inefficient & uncontrolled practices and brought state of the art and up-to date best practices to the whole Treasury function within the organization and group companies.
• Face-Lifted the Finance division financial & operational reports and introduced new periodic reports.
• Revamped & steered the whole budgeting process into detailed sophisticated yet very flexible with full alignment to the financial statements and to the Dynamic Direct Cash Flow Model.
• Introduced the financial feasibility models to new and potential local and international commercial transactions with full alignment to the company budget and cash flow plans.
• Implemented best practices for internal controls, designed and implemented Cost Efficiency plans, and Cost Cutting decisions.
Website: http://elsewedyemg.com/
The Linde Group is a world leading gases and engineering company with almost 48, 000 employees working in more than 100 countries worldwide. Saudi Industrial Gases Company (LINDE-SIGAS); established in 1955, SIGAS was one of the first Industrial gases company to be set-up in the kingdom of Saudi Arabia. LINDE-SIGAS is a leading manufacturer and marketer of Industrial gases such as Oxygen, Hydrogen, Argon, Helium, Carbon Dioxide etc. LINDE-SIGAS also markets medical, speciality gases & Refrigerants, dealing with all range of Welding Electrodes, gas welding accessories, Welding machines and welding consumables for petrochemical projects.
Summary of major challenges, achievements & responsibilities:
• Directly reported to the SUB Region Head of Finance & Controlling Middle East Office in UAE.
• Provided the CEO and senior management and other stakeholders with timely and accurate reporting on the state of the company and Divisional financial & operational performance, enabling them to make sound and timely management decisions with regard to the performance of the functions and projects under their jurisdictions and responsibility.
• Attended to all BoD’s meetings and presented the quarterly results versus Budgets & forecasts.
• Prepared and evaluated business cases, feasibility studies and presentation to the Middle East SUB Region & Region Head of Finance & Controlling in Germany.
• Ensured compliance with the Linde Group reporting & internal control policies and systems and made various recommendations for improvements.
• Implemented the Year-End financial closing according to Linde Global IFRS guidelines including statutory accounts, legal, tax etc. and coordinate with external auditors (KPMG), tax consultants (E&Y) and legal advisors (Fresh fields) in KSA.
• Led the processes of planning (budgets, CapEx OpEx, forecasts, and outlooks) of all Business Units and report back to sub-regional for consolidation and presentation to regional team in Germany.
• Participated in the process design and implementation of the ERP solution for KSA (MS Axapta).
• Monitored and controlled the execution of Working Capital, Cash Flow and CapEx plans.
• Established performance standards for team members and conducts regular performance appraisal.
Website: http://www.linde.com/
Muriya Tourism Development Company (MTDC) was established in Oman in March 2006, as a joint venture between Egypt’s Orascom Hotels & Development (70%) and Omran (30%), representing the Ministry of Tourism, Government of Oman. Muriya’s vision is to develop and invest in tourism and all related activities and facilities. The aim is to create tourism destinations which have the branding and flavour of the diversified nature and culture of the Sultanate of Oman. MTDC currently has four major projects on hand in Oman each one is represented in a company with the same ownership structure as MTDC: Salalah Beach, Jebel Al Sifah, City Complex in Muscat and Al Sodah Island. The destinations selected for development are based on Muriya’s deep rooted commitment to develop unrivalled luxury with top notch value while remaining committed to preserving the environment and natural beauty of Oman.
Summary of major responsibilities:
• Report to the Group Chief Financial Officer, and Muriya CEO.
• Restructured the group finance department into Real Estate, Construction, and Corporate Sectors.
• Prepared projects’ feasibility studies and cash flow projections on the short & long term.
• Conducted a high level strategic business plan for all of our tourism development projects in Oman.
• Budgeting process and budgetary control procedures to monitor the construction costs across the group.
• Negotiating financial institutions for granting loans to finance our hotels in our tourism projects.
• Restructured the group financial reporting and financial statement to conform to the latest IFRS.
• Active involvement in the due diligence and evaluation of proposed development opportunities.
• Optimized the group treasury, cash flow forecasts and income tax exposure.
Website: http://www.muriya.om/ & http://www.orascomdh.com
United Electronics Company established its first premier Big Box retail brand eXtra into Saudi Arabia in 2003, to provide a complete shopping experience for consumer electronics and home appliances. eXtra offers a wide range of quality branded products, like TV screens, audio, computers, mobile phones and IT communications, cameras, home appliances and personal care products along with their accessories. It opened with a wide range of more than 12, 000 different products totally focused on quality services and customer care. eXtra is a public company with $1 billion in revenue and over 2, 500 employees from 18 countries spread over more than 35 stores in 3 countries with ambitious expansion plans across KSA and the GCC region.
Summary of major challenges & responsibilities:
• Directly reported to the CFO, and was member of the Leadership team.
• Participated in the preparations and leadership of the company annual budget and forecasts.
• Designed the Year-End financial closing plans.
• Participated in the production of various historical financial reports for the IPO assessment phase.
• Introduced various optimizations and customized modules and reports on Oracle ERP systems within the Finance division to further facilitate the day to day handling and management of numerous transactions.
• Designed automated Module as an Add On Oracle ERP to fully eliminate the manual banks’ reconciliations which would result in reducing the head count by minimum 10 accounting clerks.
• Monitored the Order-to-Buy and inventory aging and turns and recommended recovery actions.
• Involved in heavy day-to-day of an extreme busy finance and retail operations environment.
Website: http://www.extrastores.com/
The Sultan Center, or TSC, is a dynamic organization based in Kuwait that incorporates a diverse portfolio of successful companies. TSC is publicly listed on the Kuwait Stock Exchange under the ticker “SULTAN”, and employs approximately 3, 500 staff. TSC is Kuwait’s largest independent retailer and a leading supplier of supermarket items, perishables, and general merchandise in the Middle East. TSC operations also encompass restaurants and catering, trading, fashion, telecommunications, security, and investments. TSC has embarked on a successful expansion program throughout the Middle East and also operates successful retail stores and restaurants in Oman and Jordan. TSC has ambitious expansion plans in Lebanon, United Arab Emirates, Bahrain, Qatar, Saudi Arabia, Egypt and North Africa.
Summary of major responsibilities:
• Relocated to Egypt to head our expansion plans in Egypt, Sudan and North Africa.
• Report to the Group Managing Director, Retail Managing Director.
• Conducting entry strategies, market researches and economic social indicators for the region.
• Establishing legal entities for all our operations in the region.
• Responsible for identifying strategic mergers, acquisions, and joint venture opportunities within the region.
• Conducting feasibility studies on targeted real estate properties and sites for our operations.
• Building real estate properties and locations data bank that meet our operational expansions.
• Establishing high contacts with all governmental bodies related to our projects in the region.
• Establishing contacts with banks, financial institutions, investment banking firms, audit firms, corporate law firms, real estate firms and real estate developers to support our expansion projects in the region.
Website: http://www.sultan-center.com/
Safeway is a multi-million dollar pioneer retail company in Jordan, supplying the best quality of local and foreign imported products with high range of varieties. Safeway is specialized in Supermarket, Perishables and Home Center products with high and effective customer service. Safeway is 100% owned by The Sultan Center. Summary of major responsibilities: • Relocated from “The Sultan Center” - Sultanate of Oman. • Report to the Group CFO & Safeway Jordan COO. • Strategic development & improvement: identifying, analyzing, interpreting and preparing evaluations on wide ranges of business scenarios and opportunities, & preparing financial & operational feasibility study models. • Develop & implement a vision and strategy for Finance, which is in line with the overall Company’s strategy and supports objectives of the business. • Review viability of new investment projects, potential acquisitions and divestments. • Participate in company negotiations, and in particular oversee all financial aspects of significant commercial real estate transactions including funding, structuring and financial modelling/feasibility analysis. • Full financial presentations and analysis for the whole company divisions’ performance with full measurement to the company’s standard KPI’s and industry benchmarks using exception reports for management review. • Establish banks’ facilities as overdrafts, short, and long term loans, with project and working capital financing facilities. • Implement efficient & effective financial accounting policies and procedures. • Maintain strong yet smooth financial internal control environment. • Treasury, Cash flow management & optimization, and financial statements projections. • Legal and non legal contracts’ negotiations. • Tax Planning; supervise sales tax (VAT) and income tax calculations and filing periodical returns. Website: http://www.safeway.com.jo/
Designation: Accounting Manager (started as Chief Accountant)
The company is the region’s most successful retailer in FMCG in Oman that started its operations in May 1999. The company in Oman is fully owned by one of the most Gulf region successful retailers in State of Kuwait
Summary of major responsibilities:
• Report to the Group CFO.
• Prepare and analyze periodically Financial Statements.
• Anticipate in preparing the company business plans & its compilation with the company budgets.
• Anticipate in preparing and analysing the company annual budget.
• Establish banks facilities with excellent communication skills with bank officers.
• Review all legal contracts with corporate lawyers.
• Ensure that all financial transactions are complying with the company policies and procedures.
• Report any non-compliance of any transaction with company budget to the CFO & the Managing Director.
• Manage and oversee day-to-day accounting functions.
• Initiate all kinds of Insurance Policies.
• Update Fixed Assets maintain its computerized Register and process periodically depreciation.
• Review & reconcile MIS Reports.
• Process & supervise Periodically Payroll transactions.
• Develop different types of Management reports for management review.
Special Assignments:
• Acting Human Resources Manager.
• Acting Administration & Governmental Affairs Manager.
Website: http://www.sultan-center.com/
AL EZZ STEEL REBARS CO. S.A.E. as a member of (Ezz Group Egypt) is one of the biggest & leading company in Middle East in the field of manufacturing Steel Rebars, Steel Raw Billtets, Flat Steel, and other Steel products.
* JOB DESIGNATION:
- Deputy Accounting Manager (Previously as Senior Accountant)
* DUTIES & RESPONSIBILITIES:
- Reporting to the Accounting Manager, Treasury Manager and the Financial Controller.
- Member of “Oracle Implementation Committee” for the implementation of Accounts Payable & General Ledger Modules.
- Preparing & following up Banks’ Daily Cash Flow Positions for overdrafts & long term loans and reporting them to Treasury Manager & other top management.
- Registering & following up Banks’ Maturities & Loans’ instalments in due dates.
- Issuing Letter of Credits & Letters of Guarantees & preparing monthly status master file for it to follow up its expiration.
- Preparing monthly Cost Center Analysis by project.
- Preparing Sales Tax Returns.
- Prepare Pricing Sheets for main Raw Materials (Billets & Scrap).
- Preparing Quarterly Deduction & Additive Tax Reports (40 & 41 Forms).
*Major Achievements & Contributions With Al Ezz Steel Rebars:
- Oracle Financials Package Implementation:
Member of the Oracle Financial implementation Committee & was responsible for the successful implementation of AP & GL Modules.
Website: http://www.ezzindustries.com/
Diamant Boart Middle East (DBME) is multinational company specialized in the production of Hard Rock Saw Blades with many branches in Egypt, Jordan, Syria, Saudi Arabia, Lebanon, and Yemen.
* JOB DESIGNATION:
- UNIT (Branch) Accountant - JORDAN
* DUTIES & RESPONSIBILITIES:
- Reporting to the Financial Controller.
- Recording all the general Ledger transactions for Jordan Branch.
- Costing & Inventory Control.
- Preparing monthly Bank Reconciliation.
- Recording & Updating Sales & Accounts Receivable.
- Preparing Weekly report for Sales Aging & Clients Exposure.
- Preparing Monthly Payroll.
- Auditing Unit’s Monthly Expenses.
- Controlling Fixed Assets Register & preparing monthly depreciation.
- Preparing Monthly Analysis for all P&L Accounts.
- Preparing Monthly Profit & Loss, and Balance Sheet.
Website: http://www.diamant-boart.com/
Website: http://www.snig-me.com/
* ORGANIZATION PROFILE:
IDSC is one of the most reputable Governmental Organization in Egypt, specialized in Information Services and Decision Support for the Cabinet (Ministers’ Council). Which was under the managment of His Excellency Dr. Atef Ebeid the ex Prime Minister and His Excellency Dr. Ahmed Nazif the current Prime Minister of Egypt.
* JOB DESIGNATION:
- Assistant Planning & Following Up Director for Documentation
* DUTIES & RESPONSIBILITIES:
- Reporting to the Planning & Following Up Director.
- Responsible for the documentation of all IDSC’s documents and information, since it was established on the Documents Handling System (DHS).
- Assisting P&F Director in following up the IDSC’s projects progress against targets designed according to the requirements of the Cabinet.
Website: http://www.idsc.gov.eg/
Certified Director from the Institutional Shareholder Services in the United States in collaboration with the International Finance Corporation and the Egyptian Institute of Directors. Accordingly I became a member of the newly established Certified Directors Forum of Egypt which will be responsible for promoting and implementing the Corporate Governance worldwide best practices in the MENA region. Please check the following Links: http://issproxy.com/index.jsp http://www.eiod.org/files/pdf/members/english/1_en.pdf
* Degree: - Bachelor of Commerce (B.Com) from Faculty of Commerce, Cairo University. * Major: - Accounting * Graduation: 1993 * Grade: Good