TAQA Arabia, the leading energy distribution company based in Cairo and led by Egyptian executive Pakinam Kafafi, has demonstrated robust financial performance throughout the first nine months of its fiscal year 2023, achieving a noteworthy profit milestone of $12 million.
Despite challenges posed by escalating production costs and operating expenses, TAQA Arabia’s profits for the first nine months of 2023 reached EGP364.4 million ($12 million), marking a moderate 6 percent rise from EGP343.38 million ($11.1 million) in the same period of 2022, reinforcing its status as one of Egypt’s most profitable businesses.
TAQA Arabia remains resilient under Pakinam Kafafi despite escalating operating costs
According to the recently published financial results, the company’s revenue experienced a notable surge, climbing 28 percent from EGP7.65 billion ($247.6 million) in 9M 2022 to EGP9.78 billion ($316.5 million) in 9M 2023.
Despite the positive financial outlook, TAQA Arabia faced challenges from escalating production costs and growing operating expenses, impacting the profit margin. Nevertheless, the company’s strategic expansion efforts, under the leadership of Pakinam Kafafi, have contributed significantly to its overall growth.
TAQA Arabia, recognized as Egypt’s foremost energy and utility provider, currently serves over 1.7 million individuals and businesses, meeting their daily energy requirements. The company is renowned for its expertise in the construction and operation of energy infrastructure nationwide, along with offering water treatment and desalination services to a diverse clientele.
Pakinam Kafafi’s strategic brilliance propels TAQA’s expansion across Africa
Kafafi, a prominent figure in North Africa’s business landscape, has played a pivotal role in TAQA’s remarkable trajectory. Under her visionary leadership, the company successfully acquired and integrated major gas distribution firms, including BG, ENI, Edison, and AMEC.
In a move to strengthen its presence across the African continent, TAQA Arabia, under Kafafi’s leadership, has launched the first integrated Compressed Natural Gas (CNG) refueling station and conversion center for vehicles in Tanzania.
This initiative, undertaken by TAQA Dalbit Company, marks the beginning of a series of 12 stations to be inaugurated in the coming years, with a total investment estimated at $10 million.
