Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Chairperson of the Board of Directors of the National Investment Bank (NIB), met with the leadership of NI Capital and NI Consultations, NIB subsidiaries, to discuss their role in promoting public-private partnerships and driving economic growth.
Al-Mashat emphasised NI Capital’s critical role in supporting the government’s vision for fostering economic growth by developing non-banking financial services, encouraging investments in traded securities and direct investments, and maximising returns on state-owned assets.
“NI Capital represents a leading example of the bank’s investments,” said Mohamed Negm, NIB Deputy Chairperson, stressing the importance of the company’s role in maximising returns on the bank’s investments and fostering partnerships with both local and foreign private sectors.
Mohamed Metwally, CEO and Managing Director of NI Capital, highlighted the company’s significant progress since its inception. Assets under management for private sector clients and state-owned enterprises reached EGP 14.7bn by the end of 2023, with a compound annual growth rate of 97% over the past four years. Consolidated revenues reached EGP 329m by the end of the previous year, representing a compound annual growth rate of 72% over the same period.
Metwally emphasised that 79% of the company’s total revenues in 2023 came from transactions with private sector companies and individuals.
