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Reading: Planning Minister, NI Capital CEO discuss company’s major activities in Q2 of 2020/21
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Dailynewsegypt > Blog > Business > Planning Minister, NI Capital CEO discuss company’s major activities in Q2 of 2020/21
Business

Planning Minister, NI Capital CEO discuss company’s major activities in Q2 of 2020/21

Daily News Egypt
Last updated: 2021/01/04 at 2:49 PM
By Daily News Egypt 4 Min Read
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Minister of Planning and Economic Development Hala El-Said
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Egypt’s Minister of Planning and Economic Development, Hala El-Said, has met with Mohamed Metwally, CEO and Managing Director of NI Capital for financial services, to discuss the state-owned company’s most important activities.

During the meeting, El-Said was briefed on the company’s activities during the second quarter (Q2) of fiscal year (FY) 2020/21, as well as its acquisition of the Arabeya Online for securities brokerage. NI Capital represents the investment arm of the state-owned National Investment Bank (NIB).

The two sides also discussed plans to develop NI Capital’s activity, alongside the plans to expand its asset management activity. It includes the launch of new investment funds in a matter of days, which is expected to attract more local and foreign investors.

This came in addition to discussing the company’s activities in the coming period, and the outstanding performance of the National Investment Charity Education Fund. Alongside this, the two officials reviewed Ayady for Investment and Development’s business services portfolio, and other stock and bond portfolios belonging to the company. Ayady was founded to motivate local development and boost employment by investing in economically viable projects; thus facilitating the growth and development of existing SMEs as well as contributing to the establishment of new ones.

During the meeting, the efforts made by NI Capital’s employees in providing non-banking financial services to the private sector were also reviewed, in addition to the activities being implemented in terms of government mandates.

El-Said, who is also Chairperson of the NIB, said that NI Capital is expanding its activity in terms of promoting IPOs and managing investment assets. This aims to contribute to the financial inclusion programme, allowing citizens and local and foreign institutions to invest in the domestic stock market.

At the same time, it will allow participants to obtain a lucrative return, with Egyptian companies having access to the needed capital with which they would be able to expand and create new job opportunities, with the NIB’s full support.

El-Said added that NI Capital provides a comprehensive range of investment banking services, investment management services, and financial advice in the Egyptian market.

The minister noted that the company manages the government offering programme, to attract local and foreign investments to the Egyptian Exchange (EGX). It also diversifies sources of income for the government, and expands the ownership base, whilst providing financial advice and promoting private propositions for private sector companies.

NI Capital is a leading Egyptian company in providing an integrated package of investment banking services. Each of these services aim to meet the needs and aspirations of various clients, whether from individual investors or institutions from the private sector or the government.

The company was established in 2015 as an independent financial services company, managed with the thinking and experience of the private sector. It aims to contribute effectively to achieving the desired economic development of the Egyptian market, through a banking team that includes the best competencies. The team has extensive experience gained at major investment banks, and local and international companies.

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TAGGED: Ministry of Planning and Economic Development, NI Capital
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