Contact Financial Holding announced on Wednesday the appointment of Manal Abdel Razek as Chairperson of its Board of Directors, effective 28 April, succeeding Hazem Moussa.
Abdel Razek brings more than three decades of leadership experience across Egypt’s financial services sector, as well as the public and private spheres. She currently serves as Executive Chairperson of New City Housing & Development (formerly Orascom Housing Communities) and as Senior Advisor to TCI Sanmar, one of the region’s leading industrial groups.
Her track record includes founding and chairing eFinance, Egypt’s leading electronic payments platform, and serving as Chairperson of Tamweel Mortgage Finance. She has also held board positions at Misr Iran Development Bank and Arab Investment Bank, underscoring her extensive expertise in governance and financial services.
Abdel Razek previously chaired Orascom Development Egypt, where she led the transformation of El Gouna into a carbon-neutral city. The initiative earned the UNEP-sponsored Global Green City Award and positioned El Gouna as a regional benchmark for sustainable development.
Prior to her private sector roles, she spent more than two decades in government, including as Deputy Minister of Finance and Deputy Minister of Foreign Trade, contributing to key economic and policy reforms.
Commenting on the appointment, John Saad, Group CEO, said: “Abdel Razek’s appointment comes at a defining moment in Contact’s evolution. As we accelerate our transformation into a fully integrated, digital-first financial platform, her depth of experience across governance, financial services, and large-scale institutional leadership will be instrumental in guiding the next phase of our growth. Her perspective brings both strategic clarity and long-term value to the Board.”
For her part, Abdel Razek said: “I am pleased to join Contact Financial Holding at such a pivotal stage in its journey. The Group has built a strong foundation and is well-positioned to expand access to finance and drive financial inclusion in Egypt. I look forward to working closely with the Board and management team to support the Group’s continued growth and transformation.”
Hazem Barakat, Co-Founder and Chairperson of B Investments, added: “We are pleased to welcome Abdel Razek as Chairperson of Contact. With an extensive track record spanning senior leadership roles in the financial sector, she brings deep expertise in corporate governance, investment strategy, and business transformation. This appointment reflects the Board’s strong confidence in her leadership, experience, and strategic vision.”
Ashraf Zaki, Founder and Managing Partner of Lorax Capital Partners, said: “Contact is one of the most strategically positioned non-banking financial platforms in Egypt, and the work done over the past year has put it on a much stronger footing. Abdel Razek brings the governance depth and institutional credibility this stage of the Group’s development calls for.”
The appointment comes as Contact advances its transformation strategy, with a focus on digitalisation, operational efficiency, and expanding access to financial services. The Group is strengthening its platform through portfolio optimisation, enhanced underwriting frameworks to improve asset quality, and investments in digital and AI-enabled infrastructure.
Anchored around four strategic pillars—Digital Value Creation, Value Maximisation, Business Optimisation, and Organisational Agility—Contact is positioning itself as a next-generation financial platform aimed at delivering sustainable growth and long-term value.
