The emerging markets of Europe, the Middle East and Africa (EMEA) are known more for their differences—culturally and geographically—than their similarities. But when it came to battling geopolitical uncertainties and volatility this year, some of the leading companies of the region were united in their steadfast approaches, cutting across sectors such as telecommunications, finance, healthcare and energy.
Geopolitical tensions affect the energy sector mainly through price volatility, supply chain pressures and uncertainty around security of supply, according to Georgios Stassis, chairman and CEO of PPC Group, one of the leading electricity producers and suppliers in Greece. Stassis said these challenges highlight the importance of the strategy PPC Group is already pursuing: more domestic clean energy, stronger grids, flexible generation and reduced exposure to imported fossil fuels over time.
“Europe needs an energy system that is more resilient, affordable and sustainable,” he added. “Our role is to support that transition in Greece and the wider region of Central Southeastern Europe, while managing short-term risks carefully and continuing to invest with a long-term perspective.”
In Africa, geopolitical volatility is a defining feature of the operating backdrop rather than a new phenomenon, according to Ralph Mupita, CEO of MTN Group, Africa's largest mobile network operator, and the firm has built resilience into its portfolio accordingly.
Currency fluctuations, trade policy shifts and regional instability are recurring factors that demand disciplined risk management and a diversified footprint but “global volatility reinforces, rather than undermines, Africa’s relative investment appeal: the continent’s growth trajectory to 2030 is underpinned by domestic structural reforms, urbanization and a young population, factors that are less exposed to external shocks than many other markets,” he said.
Regulatory developments in individual markets can also present hurdles, as is the case in Türkiye’s healthcare sector. This is particularly notable in licensing processes, hospital opening procedures, and physician employment regulations introduced in 2025, according to Muharrem Usta, CEO of MLP Care, one of Turkey's largest hospital groups. These changes have created a more structured framework while certain adjustment and compliance requirements continue across the sector.
Usta reported that MLP Care has already adapted to these changes and remains well positioned. “Our strong licensing portfolio and well-planned investment program provide clear visibility over our medium-term growth plans,” he said. “In recent years, we have secured a significant portion of future growth through strategic license acquisitions and greenfield hospital investments.”
With the year more than halfway over, the top CEOs of emerging EMEA are looking toward the remainder of 2026, and what opportunities remain. “We see a meaningful opportunity to translate strategic momentum into durable earnings growth,” said Vassilios Psaltis, CEO of Alpha Bank CEO, one of Greece’s top financial sector groups. “In 2026, our priority is clear: execute with discipline and convert the strength of our franchise into higher-quality, more diversified returns. Our growth is structural, not cyclical. We are building a business model that is less dependent on cyclical tailwinds and increasingly driven by deeper client relationships, capital-light fee generation and better share-of-wallet capture.”
These CEOS and their companies have all been recognized as esteemed members of Extel’s 2026 Emerging EMEA Executive Team based on the opinions from 454 investment professionals at 247 financial services firms.
Participants ranked the chief executive officers, chief financial officers and investor relations professionals at the companies in their coverage universes considering a myriad of attributes. CEOs were ranked on their credibility, leadership and communication. CFOs were ranked on their ability in financial stewardship and communication. IR Professionals were ranked on their authority, credibility and business and market knowledge. Investor relations programs were ranked on quality of meetings; quality of earnings calls; proactive communication; consistency of financial disclosure; and granularity of financial disclosure. Additionally, voters also ranked companies on the quality of investor/analyst events, company board on their tenure and board refreshment and strategy and stewardship, and ESG.
Read on to hear more from these CEOs on the themes further shaping opportunities, challenges and wins in the emerging EMEA region.
What opportunities do you see for your business for the remainder of 2026?
I look at the scale of unmet demand still ahead of us at MTN. With only a quarter of Sub-Saharan Africa's population accessing mobile internet and more than half of adults unbanked or underbanked, the structural growth runway remains substantial. My priority for the rest of 2026 is accelerating execution across our three-platform strategy: deepening data penetration and home broadband in Connectivity, scaling MoMo into a full digital financial services ecosystem, and growing Bayobab's fiber, subsea and data center infrastructure to meet Africa's rising digital and AI-driven demand. I'd also highlight enterprise as a relatively untapped opportunity, with businesses across the continent increasingly seeking solutions beyond basic connectivity.
What challenges are you currently facing?
I recognize that we operate in an environment shaped by global economic volatility, supply chain pressures and rising living costs, all of which weigh on consumer spending power across our markets. Closer to home, there's the operational discipline required to convert structural demand into delivery: closing persistent digital and financial inclusion gaps at pace, while maintaining the balance sheet discipline and capital allocation rigor investors expect. Regulatory complexity across our diverse footprint adds further intricacy. I see these as the ordinary, manageable challenges of operating Africa's largest mobile network, rather than threats to the underlying investment case.
How are geopolitical tensions affecting your business?
Geopolitical volatility, for me, is a defining feature of the operating backdrop rather than a new phenomenon, and we've built resilience into our portfolio accordingly. I'd point to currency fluctuations, trade policy shifts and regional instability as recurring factors that demand disciplined risk management and a diversified footprint. At the same time, I believe global volatility reinforces, rather than undermines, Africa's relative investment appeal: the continent's growth trajectory to 2030 is underpinned by domestic structural reforms, urbanization and a young population, factors that are less exposed to external shocks than many other markets.
What are you proudest of over the last year?
I'd cite the successful transition from Ambition 2025 to Ambition 2030 as a standout achievement, built on a track record of delivering shareholder returns ahead of peers and surpassing the 300-million-subscriber milestone. I'm particularly proud of our ability to simplify our strategic narrative around three platforms, Connectivity, Fintech and Digital Infrastructure, while sharpening focus on customer experience and operational excellence. Above all, I'd highlight the resilience and commitment of MTN's people across our African footprint, who continued to deliver the Group's digital and financial inclusion agenda through a demanding macroeconomic year.
