- Al-Mashat: The government is committed to advancing partnerships with the private sector and encouraging both domestic and foreign investments.
- CEO of NI Capital: 97% Growth in Assets Under Management to Reach EGP 14.7 Billion Over 4 Years
As part of her meetings with entities affiliated with the ministry, H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Chairperson of the Board of Directors of the National Investment Bank, met with the leadership of NI Capital. Attendees included Mr. Mohamed Metwally, CEO and Managing Director, Mr. Hazem Kamel, Managing Director of the Direct Investment Sector, and Mr. Mohamed El-Nabarawy, Managing Director and Head of the Asset Management Services Sector.
The meeting also was attended by Mr. Ashraf Negm, Vice Chairman and Managing Director of the National Investment Bank, and Mrs. Dalia Mostafa, Assistant Managing Director for Investment and Resources and Supervisor of the Financial Affairs and Final Accounts Sector.
During the meeting, H.E. Dr. Rania A. Al-Mashat emphasized the critical role of NI Capital, a subsidiary of the National Investment Bank, in enhancing and supporting the government's vision for promoting partnerships between the public and private sectors. This includes fostering economic growth across various sectors by developing and expanding non-banking financial services, encouraging investment in traded securities, and direct investments, thereby improving the performance of the Egyptian economy, enhancing its competitiveness, and attracting both domestic and foreign investments, as well as maximizing returns on state-owned assets.
In this context, Mr. Ashraf Negm noted that NI Capital represents a leading example of the bank's investments, stressing the importance of supporting the company's role in maximizing the returns on the National Investment Bank’s investments and fostering partnerships with both local and foreign private sectors.
Mr. Mohamed Metwally, CEO and Managing Director of NI Capital, highlighted the significant progress the company has made since its inception, reflected in a substantial increase in assets under management for private sector clients and state-owned enterprises, reaching EGP 14.7 billion by the end of 2023, with a compound annual growth rate of 97% over the past four years. The company also achieved a notable increase in its financial results, with consolidated revenues reaching EGP 329 million by the end of the previous year, representing a compound annual growth rate of 72% over the same period. He noted that 79% of the company's total revenues in 2023 came from transactions with private sector companies and individuals, including asset management, financial brokerage, and distribution of dividends and returns from investments.
The team reviewed the direct investment portfolio managed by NI Capital on behalf of Ayadi for Investment and Development since its establishment. The company has invested approximately EGP 700 million in 10 companies across various sectors and has managed both full and partial exits from 3 companies over the past three years.
The team also discussed the outstanding performance of the funds created and managed by NI Capital, including the Cash Liquidity Fund and the Equity Fund for investing in listed stocks. Additionally, the company has provided financial consulting services to numerous companies in the energy, industrial, and real estate development sectors and has acted as an advisor in several primary and secondary offerings on the Egyptian Stock Exchange, including the initial offering of eFinance and secondary offerings for Eastern Tobacco Company, Abu Qir Fertilizers, and Telecom Egypt, with a total value of approximately EGP 13.5 billion.
In a related matter, the Minister of Planning, Economic Development, and International Cooperation also met with Mr. Ahmed Saad, Managing Director of NI Consultations, a subsidiary of the National Investment Bank. He outlined the company's role in providing consulting services, project management, capacity building and training, data analysis, and institutional development for both the public and private sectors.