Former Egyptian billionaire Ahmed Ezz returns to public life with industry board bid

After years away from the spotlight, Egyptian steel magnate and former billionaire Ahmed Ezz is stepping back into public life with a move that could reshape the country’s industrial politics.

Ezz, chairman of Ezz Steel Group and once one of Egypt’s most polarizing business figures, has submitted his candidacy for the board of the Chamber of Metallurgical Industries at the Federation of Egyptian Industries. Elections are scheduled for October 29, with his entry sparking speculation that the steel baron could be positioning himself for an even bigger prize: the presidency of the Federation itself.

A contested return

Ezz’s return comes at a time when Egypt’s industrial groups are facing leadership transitions and heightened competition. Mohamed al-Sewedy, the current president of the Federation, is expected to step down, creating a vacuum that could see new power brokers emerge.

This is the first round of elections to be held under the Federation’s new law, which mandates open contests for the posts of president and vice presidents — a shift from the consensus-driven approach that previously dominated.

For Ezz, 65, the timing is notable. He has been absent from front-line politics since the aftermath of Egypt’s 2011 uprising, when he was convicted on corruption-related charges linked to steel licenses. Though he later won appeals and reached settlements, his once-dominant role in business and politics receded.

His decision to re-enter now suggests both a personal comeback and a bid to reassert influence in an industry he helped shape. Ezz Steel remains Egypt’s largest steelmaker, supplying construction and infrastructure projects across the region.

Tough race ahead

The Chamber of Metallurgical Industries is bracing for one of the most competitive elections in its history. Several high-profile names are on the candidate list, with insiders saying there is little chance of a consensus outcome.

The Legal Committee overseeing the Federation’s 2025–2029 election cycle has already finalized preliminary lists of candidates, allowing a week for appeals. The voting marathon will stretch from October 15 to November 12, beginning with the Chamber of Grain Industries and rolling through 21 different industrial chambers.

Each chamber’s general assembly will elect 12 board members, split evenly across large, medium, and small companies. Three additional members will be appointed by the Minister of Industry, bringing each board to 15. Those boards will then select representatives to the Federation’s General Assembly, which in turn will elect the Federation president and two deputies.

Analysts say the new process will likely produce sharper contests than in the past, especially with prominent figures like Ezz rejoining the fray.

Legacy in steel and politics

Ezz’s prominence has always gone beyond metallurgy. His rapid rise in the 1990s and 2000s — when he expanded a modest operation into a steel empire — made him both admired and resented. At his peak, he controlled more than half of Egypt’s steel market and served as a senior official in the then-ruling National Democratic Party.

After the 2011 revolution, Ezz became a symbol of the crony capitalism many Egyptians felt had dominated the Mubarak era. He was tried and sentenced on multiple charges but later cleared of several and reached financial settlements in others.

Since then, he has kept a relatively low profile, focusing on stabilizing his steel businesses. His re-entry into the Federation of Industries election cycle is the clearest sign yet that he is ready to reassert his presence in public life.

A broader shake-up

The elections will also mark the end of eras elsewhere. Notably absent this year is Mohamed al-Marshady, who led the Chamber of Textile Industries for 33 years. In the food sector, one of the standout candidates is Seif Safwan Thabet of Juhayna Food Industries, another signal that major family-owned companies are seeking greater influence in industrial policymaking.

Observers say Ezz’s candidacy changes the dynamics across the board. His resources, name recognition, and proven ability to mobilize support could give him an advantage, though his history remains controversial.

“This is not just about one chamber,” said a Cairo-based industrial analyst. “Ezz’s move is about regaining influence at the very top of the Federation. If he succeeds, it would mark a dramatic return for one of Egypt’s most powerful businessmen.”

For now, all eyes are on October 29 — and whether Ahmed Ezz, once sidelined by politics, can once again become a central figure in shaping Egypt’s industrial future.