Mohamed Helal on governance, boardroom credibility and the evolving role of finance leaders in MENA
Mohamed Helal
Group CFO, Al Watania for Industries
When people feel ownership rather than obligation, resistance turns into commitment, and change becomes sustainable.
In this Finance Leadership conversation, Mohamed Helal reflects on transforming finance into a strategic business partner, the governance culture required for IPO readiness and the qualities that build credibility in the boardroom. He also explains why sustainable transformation depends on people—and which capabilities will distinguish the most successful finance leaders across the MENA region.
1. You’ve built your career around transforming finance into a driver of business performance. What is one decision you made that had a lasting impact on the organization?
One of the most impactful decisions I made was transforming the finance function from a traditional reporting and control role into a strategic business partner. Rather than measuring success solely by the accuracy of financial reports, we embedded finance into operational and commercial decision-making. This change enabled management teams to make faster, data-driven decisions, strengthened accountability across business units and improved visibility over profitability, cash flow and working capital. The lasting impact was the creation of a culture where finance became a driver of business performance, value creation and sustainable growth rather than simply a recorder of results.
2. Having led IPO-readiness and transformation initiatives, what is one aspect of organizational readiness that companies often underestimate?
Many organizations underestimate the importance of governance culture and organizational discipline. While companies often focus on financial statements, compliance requirements and regulatory readiness, successful IPO preparation goes far beyond the numbers. Public companies must operate with transparency, accountability, consistent decision-making processes and strong internal controls. In my experience, the organizations that are most successful in their IPO journeys are those that begin building governance frameworks, management accountability and reporting discipline well before they enter the listing process. An IPO is not simply a financial transaction; it is a transformation of how the organization operates.
3. From your board-level experience, what qualities do you believe make a finance leader truly effective in the boardroom?
An effective finance leader in the boardroom combines financial expertise with strategic thinking, business acumen and the ability to communicate complex issues with clarity. Board members are looking for more than financial analysis. They need insights into opportunities, risks, future scenarios and the strategic implications of key decisions. A successful CFO must be able to challenge assumptions constructively, maintain independence and provide balanced recommendations that support long-term value creation. Most importantly, credibility is essential. When boards trust a CFO’s judgement and objectivity, finance becomes a key contributor to governance, strategy and enterprise-wide decision-making.
4. What has been the most difficult leadership lesson you’ve learned while managing transformation, uncertainty or resistance to change?
The most important lesson I have learned is that transformation is ultimately about people, not systems or processes.Many organizations invest heavily in technology expecting change to happen automatically. However, sustainable transformation occurs only when people understand the purpose of the change, trust leadership and feel they are part of the journey. Throughout my career, I have learned that listening, communication and stakeholder engagement are often more important than technical solutions. When people feel ownership rather than obligation, resistance turns into commitment, and change becomes sustainable.
5. Looking at the next five years, what capabilities will distinguish the most successful finance leaders in the MENA region?
Over the next five years, the most successful finance leaders in the MENA region will be those who can combine financial expertise with digital leadership, strategic thinking and business-transformation capabilities. As artificial intelligence, advanced analytics and automation continue to reshape organizations, CFOs will increasingly serve as architects of enterprise transformation. Their role will extend beyond financial stewardship to driving operational efficiency, growth, risk management and strategic decision-making. Additionally, as the region continues its ambitious economic transformation, finance leaders will need strong stakeholder management, governance and change-leadership capabilities. Those who can successfully integrate technology, people, strategy and financial discipline will be best positioned to create sustainable value for their organizations.
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