This paper examines the impact of financial flexibility (FF), measured by low debt and excess cash dimensions on the investment ability of the Egyptian firms using a panel data set of 75 Egyptian listed corporations of EGX100 through 2007-2020. GMM results show that Egyptian firms that seek FF either by maintaining low debt or excess cash policy enhanced their investment ability, because the analysis shows a significant positive relationship between FF and future investments measured by the increase in capital expenditures. Robustness tests using firm specific characteristics and two macroeconomic factors (GDP and inflation rate) were conducted and confirmed the results that financially flexible firms can boost their future investments higher than non-financially flexible firms. By understanding how FF works in an emerging economy like Egypt, financial managers should intentionally consider preserving high cash level and maintain low debt level. This should enhance their ability of sustaining their growth, capturing future investments, and eventually enhancing firm's value. Investors should be inclined to invest in firms that pursue FF to build their wealth based on capital gains resulted from these high growth financially flexible firms.