Egypt aims to fuel growth by becoming a regional hub
Egypt is undergoing sweeping reforms not only to attract foreign investment, but also to realise its ambition of becoming a regional hub for business and finance. These ambitions are driving demand for accountancy services, especially as regulatory and digital changes reshape the local market. For firms navigating inflation, currency devaluation and a skills shortage, the opportunities are real—but so are the pressures.
Earlier this year, Farid Lawandy, managing partner of Cairo-based MGI member firm Integral, shared his insights with the International Accounting Bulletin (IAB) on how accounting firms are adapting to support businesses during this period of transformation and economic volatility.
Regulatory push and digital shift
A raft of reforms, including tighter anti-money laundering (AML) rules, e-invoicing mandates and tax digitisation, are reshaping compliance expectations. Local firms are also feeling pressure to meet international standards, particularly as demand grows for IFRS-compliant audits, IPO readiness, and enhanced governance. This is driving demand for assurance, risk and restructuring services—especially from multinationals and private equity–backed businesses.
Fee pressure and talent strain
Ongoing inflation and sharp currency devaluation have pushed firms to raise fees, but many clients remain price-sensitive. The economic environment has also fuelled staff turnover, as professionals leave for better-paying roles abroad, particularly in the Gulf. Firms are responding by investing in training, flexible work policies and career development to retain talent.
Consolidation and competitiveness
The growing complexity of regulation and client expectations has led some smaller firms to seek mergers or international network affiliations to stay competitive. Though consolidation remains modest, it is gaining pace in key cities like Cairo and Alexandria as firms pool resources to scale up digital, advisory and ESG offerings.
Tech, sustainability and advisory in focus
Firms are increasingly helping clients adopt digital payments, integrate cloud solutions and prepare for new ESG disclosure rules. Farid notes rising demand for efficiency-focused outsourcing and governance advisory:
“In the coming year, the accounting profession in Egypt is expected to experience enhanced regulatory compliance that will require firms to adapt their practices,” he says.
“The adoption of advanced technologies for accounting and auditing processes is now vital, while firms also need to increase their efforts to attract and retain skilled professionals. These developments will shape the landscape of the accounting industry in Egypt, presenting both opportunities and challenges for firms.”
Looking ahead
Despite economic headwinds, Egypt’s accounting sector is preparing for growth as wider reforms take hold. With the government focused on creating a more investment-friendly climate and driving regional connectivity, firms that embrace change are well placed to thrive in 2025 and beyond.
To read the full article in the IAB, members can click HERE (login to the MGI Worldwide member portal will be required).
Click the link for more information about our contributing member firm, Integral.
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