Contact Financial Holding, a leader in non-banking financial services, has announced the appointment of Dr. Manal Hussein Abdel Razek as its Chairperson, effective April 28, 2026. She will be succeeding Hazem Moussa. This move comes as the company undergoes a strategic restructuring phase, while also continuing to implement its plans to transform into an integrated financial platform powered by digital solutions. The goal is to boost operational efficiency, expand access to financial services, develop its business portfolio, improve underwriting frameworks to support asset quality, and invest in AI-powered digital infrastructure. Dr. Manal Hussein brings over three decades of leadership experience from both the public and private sectors in Egypt. She currently serves as the Chairperson of New City Real Estate Development (formerly Orascom Housing Communities) and is a Senior Advisor to the TCI Sanmar Group. Her impressive career includes founding and chairing e-Finance, one of Egypt's leading electronic payment platforms. She also chaired Tamweel Mortgage Finance and served on the boards of financial institutions like MIDBANK and Arab Investment Bank (now known as BANK NXT), giving her extensive expertise in governance and the financial sector. Additionally, she led Orascom Development Egypt, where she spearheaded the project to transform El Gouna into a carbon-neutral city. This project earned her the Global Green City Award, sponsored by the United Nations Environment Programme (UNEP), making El Gouna a regional model for sustainable development. For over 20 years, Dr. Manal held leadership positions in the Egyptian government, including Deputy Minister of Finance and Deputy Minister of Foreign Trade, contributing to the formulation and implementation of several economic and political reforms. John Said, CEO of Contact Financial Holding Group, stated that Dr. Manal's arrival comes at a pivotal moment for the company as it accelerates its transformation into an integrated digital financial platform. He emphasized that her expertise in governance, financial services, and leading major institutions will be a significant asset in supporting growth during the upcoming phase. For her part, Dr. Manal Hussein expressed her eagerness to work with the Board of Directors and the executive management team during this important stage of the company's development. She affirmed that Contact has built a strong foundation, positioning it to enhance financial inclusion and improve access to financial services in Egypt, while continuing its path of growth and transformation. Hazem Barakat, Co-founder and Chairman of B Investments, commented that Dr. Manal's selection to chair the board reflects confidence in her extensive experience in governance, investment strategies, and business transformation, as well as her ability to lead the company through its next growth phase. Ashraf Zaki, Founder and Managing Partner of Lorax Capital Partners, highlighted Contact as one of Egypt's most prominent non-banking financial platforms. He noted that the new Chairperson's experience will help achieve sustainable long-term value for shareholders. This appointment comes as the company continues to execute its transformative strategy, which is built on four main pillars: maximizing digital value, maximizing returns, improving business efficiency, and enhancing institutional flexibility. This strategy aims to transform Contact into a next-generation financial platform capable of achieving sustainable growth and long-term value.
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