Sherif Megahed

From Crisis to Growth in Uncertain Times

Sherif Megahed

Director - Corporate Finance,

National Energy Center

Sherif Megahed has forged a remarkable career by tackling complex financial challenges in high-risk markets. A standout moment came in North Africa when he successfully negotiated one of the world’s largest tax liabilities for Schlumberger (SLB) in Libya, demonstrating his strategic leadership under pressure. As CFO for 5 countries in Central Asia and 37 countries in Sub-Saharan Africa, Sherif faced underperforming markets head-on. He swiftly implemented rigorous financial controls, accurate forecasting, and strategic planning, stabilising operations across the region. His adaptability to diverse regulatory environments and skill in executing operational turnarounds became hallmarks of his leadership style. In Central Asia, he led negotiations for a multibillion-dollar joint venture, further highlighting his exceptional negotiation abilities. Sherif’s success is rooted in his commitment to building cohesive, high-performing teams. His cultural adaptability and focus on team alignment have enabled him to unite diverse groups globally, fostering collaboration and trust. This leadership approach has consistently driven financial transformations in some of the world’s most challenging environments. Currently, as Director of Corporate Finance at the National Energy Centre, Sherif leverages over 25 years of expertise in corporate finance, treasury management, and strategic planning to drive innovation and growth in the evolving energy sector. In a conversation with TradeFlock, he elaborated on his financial strategies and achievements.

What inspired your path into finance?

As a child, I was always curious, often taking apart household gadgets to figure out how they worked, sparking my early interest in engineering. However, during high school, my focus shifted when I realised the importance of finance in turning ideas into reality. I became fascinated by how engineering projects were funded, managed, and executed. This growing curiosity led me to pursue a career in finance, seeing it as a powerful tool for driving innovation and business success.

What major challenges have you faced as CFO, and how did you overcome them?

As CFO, I’ve faced significant challenges, especially regarding regulatory compliance and geopolitical risks. A standout experience was in North Africa, where I navigated complex tax regulations in Libya. Leading high-stakes negotiations to resolve substantial tax liabilities, I collaborated with government officials to secure favourable agreements while ensuring compliance with international laws. This enhanced my negotiation skills and underscored the importance of cultural sensitivity, easing our financial burden and positioning us for growth. In Central Asia, I encountered a volatile political landscape and fluctuating oil prices. By conducting thorough risk assessments and fostering open communication, I ensured our agility and responsiveness amid uncertainties.

How do you manage financial complexities and drive growth amid energy sector volatility?

To navigate volatility in the energy sector, I use a multifaceted strategy centred on sustainability and financial prudence. Since 2014, we have continuously reassessed our business models to align projects with long-term sustainability goals while ensuring financial viability. A robust risk management framework allows us to evaluate potential projects and forecast returns effectively. By maintaining a strong foundational business covering 70–80% of our needs, we can invest 20–30% in innovative, higher-risk initiatives. Engaging with industry partners keeps us attuned to market trends, positioning us as leaders in sustainability and growth.

As a CFO, what worries you most? What challenges keep you awake at night?

As CFO, cash flow management is my top concern in today’s volatile economic landscape. Unpredictable market conditions impact liquidity, while rising interest rates increase financial strain. I prioritise aligning our financial strategies with sustainability initiatives, balancing short-term performance with long-term green investments. Additionally, attracting and retaining top talent in the competitive finance sector is crucial, as fostering a positive work environment drives growth and engagement.

What key experiences stand out in your corporate finance career?

Reflecting on my corporate finance career, several pivotal experiences have shaped my perspective. Early in banking, I learnt how financial institutions evaluate businesses and assess risk, laying a strong foundation. However, joining Schlumberger (SLB) marked a transformative phase, allowing me to navigate significant industry changes in the energy sector. A key experience was leading the financial restructuring of Sub-Saharan Africa during a market downturn. This role required in-depth financial analysis and effective team management, reinforcing the critical importance of leadership in fostering resilience and transparency in challenging times.

What are two key lessons from your career journey?

Two key learnings from my career are the importance of relationships and cultural adaptability, bearing in mind that one size doesn’t fit all, along with the need for a solutionoriented mindset. Building genuine connections and understanding local cultures are essential for achieving business objectives and fostering trust. Additionally, staying calm during challenges allows for clearer analysis and better decision-making. This approach promotes a resilient, collaborative team culture, enhancing overall effectiveness in finance.

How do you maintain consistency in your financial strategy across diverse Asian markets?

Managing finance across diverse Asian markets demands a strategic approach. I develop detailed country profiles to highlight local laws, regulations, and cultural nuances, enabling effective navigation of minor differences. Upon entering new regions, I prioritise research and collaboration with local legal and financial experts. Strong communication with local finance teams fosters insight sharing. To ensure consistency, we create standardised reporting frameworks that align with local regulations and corporate standards, reinforced through regular training sessions.

How do you manage liquidity and cash flow?

Effective treasury management is vital for financial stability in the energy sector due to unpredictable cash flow. I adopt a conservative liquidity strategy, ensuring adequate cash reserves for operations and investments. Regular forecasting, supported by advanced analytics, allows us to anticipate needs and identify shortfalls early, securing favourable credit terms and streamlining operations.