Egypt’s Minister of Planning, Rania A. Al-Mashat, and Chairperson of the National Investment Bank (NIB), recently convened with the leadership teams of NI Capital and NI Consultations, both subsidiaries of NIB. The meeting focused on enhancing their roles in advancing public-private partnerships and driving economic growth.
Al-Mashat highlighted NI Capital’s pivotal role in advancing the government’s economic vision. She noted that the firm is instrumental in expanding non-banking financial services, attracting investments in traded securities, and optimizing returns on state-owned assets.
Mohamed Negm, Deputy Chairperson of NIB, praised NI Capital as a prime example of the bank’s successful investments. He underscored its vital function in maximizing investment returns and cultivating collaborations with both domestic and international private sectors.
Mohamed Metwally, CEO and Managing Director of NI Capital, reported impressive growth since the company’s inception. By the end of 2023, assets under management had surged to EGP 14.7 billion, reflecting a remarkable compound annual growth rate (CAGR) of 97% over the past four years. The company’s consolidated revenues reached EGP 329 million, achieving a CAGR of 72% during the same period. Metwally also pointed out that 79% of the company’s total 2023 revenues were generated from transactions with private sector entities and individuals.
In recent discussions, Al-Mashat met with Ahmed Saad, Managing Director of NI Consultations. Saad detailed the company’s contributions in consulting services, project management, capacity building, data analysis, and institutional development for both public and private sectors.
Al-Mashat also received an update on the bank’s comprehensive digital transformation project, including the development and automation of its accounting system.
Further, Al-Mashat held a meeting with Osama Saleh, Chairperson of Ayady for Investment and Development. During this session, she emphasized Ayady’s role in fostering public-private partnerships and driving investment into priority sectors.
She highlighted the Ministry’s efforts to stimulate the private sector through various programs, policies, and governance frameworks aimed at aligning investment spending with government priorities and expanding the private sector’s role in development. Al-Mashat also introduced the Ministry’s new Hub for Advisory, Finance, and Investments for Enterprises.
