NI Capital

What NI Capital does

NI Capital is an Egyptian financial services holding company founded in 2015 and headquartered in Cairo, operating as the investment arm of the state-owned National Investment Bank (NIB). The company runs three integrated business lines: asset management, brokerage, and private equity/advisory. Its asset management division offers six investment funds covering money market (Siula, Makaseb Islamic), fixed income (15/30), equity (Sahmy, Sahmy 70 EGX70 tracker), and charitable education (Education for Life). Brokerage is delivered through Arabeya Online (AOLb), a wholly-owned subsidiary acquired in January 2021 with 17 years of operating history, providing electronic trading via website, mobile app, and Bloomberg integration with T+0/T+1 settlement and margin financing. The private equity arm manages Ayady for Investment & Development, holding approximately EGP 1 billion across nine portfolio companies in non-bank financial services, media, healthcare, and education. The company recently divested Tamweely Microfinance for over EGP 2.5 billion in September 2024.

NI Capital generates revenue through four primary streams: recurring asset management fees on AUM (subscription/recurring model), professional services fees from investment banking advisory mandates (government IPOs, M&A, restructuring), brokerage commissions through Arabeya Online (transaction fees with 6.8% Egyptian market share as of September 2023), and private equity returns via carried interest and investment gains. Pricing varies by product: money market funds (Siula, Makaseb) offer daily subscription and redemption with tax-exempt returns, equity funds charge management fees on AUM, and brokerage operates on commission-based pricing with bank partner margin lending facilities. The company distributes products through direct sales for institutional and government clients, the Arabeya Online retail platform with 13+ branches across Egypt, and third-party distribution partnerships with Egyptian Company for Investment Services and major banks (Misr Bank, Bank of Cairo, Abu Dhabi Commercial Bank, MIBank, National Bank of Kuwait).

The company serves a diversified Egyptian customer base spanning government entities and ministries (IPO mandates, restructuring), institutional investors (banks, insurance companies, pension funds), high-net-worth individuals (mutual funds, Sharia-compliant products), retail investors (brokerage accounts via Arabeya Online), and MSMEs (via portfolio companies). With 101-250 employees and a quasi-governmental status through NIB ownership, NI Capital occupies a distinctive position in the Egyptian financial services market, combining government-backed mandate access with private sector management expertise. The company has received consecutive awards for fastest-growing investment banking and Islamic asset management from International Finance Magazine and Cambridge Islamic Funds Awards between 2018-2025.

Name

NI Capital

Legal name

NI Capital Holding for Financial Investments S.A.E

Website

https://nicapital.com.eg

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

NI Capital is an Egyptian financial services holding company founded in 2015, operating as the investment arm of the state-owned National Investment Bank. It provides integrated investment banking advisory, asset management (six mutual funds), and brokerage services through wholly-owned Arabeya Online to government, institutional, HNW, and retail clients across Egypt.

Ownership category

akta.pro rank

Product category

Investment Banking & Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), All Other Financial Investment Activities (52399), Other Financial Vehicles (52599)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211), Investors, Nec (6799)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Large-Cap Equity (Active) (FSAAAIAA), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI)

Keywords

• Investment banking advisory
• Asset management
• Private equity
• Securities brokerage
• Investment funds

Headquarters

HQ city

Cairo

HQ country

Egypt

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: Management fees from managing investment funds including money market funds (Siula, 15/30, Makaseb), equity funds (Sahmy, Sahmy 70), and charitable education fund (Education for Life). Fee-based recurring revenue from AUM.
2. Investment Banking Advisory: Advisory fees for government IPO programs, M&A transactions, restructuring services, and corporate finance mandates.
3. Brokerage Commissions: Commissions from securities trading through Arabeya Online brokerage subsidiary. Arabeya Online ranks among top Egyptian brokerage firms with market share of 6.8% in September 2023.
4. Private Equity Returns: Carried interest and investment returns from private equity portfolio including Tamweely, Inmaa Finance, One Finance, and other portfolio companies. Total investments of approximately EGP 1 billion across 9 companies.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

NI Capital is an Egyptian financial services holding company that delivers investment banking advisory (M&A, IPO execution, government restructuring), asset management through six investment funds (money market, fixed income, Sharia-compliant, equity, EGX70 index-tracker, and charitable endowment), securities brokerage via its wholly-owned Arabeya Online platform, and private equity investment management. It serves government, institutional, corporate, and individual clients across Egypt through an integrated platform anchored by its National Investment Bank parentage.

Product overview

NI Capital is a leading Egyptian financial services holding company operating three core business lines: Private Equity, Asset Management, and Brokerage. The Asset Management division offers six investment funds: Siula (daily yield money market), 15/30 (fixed income with semi-monthly redemption), Makaseb (Sharia-compliant cash fund with GIG Takaful), Sahmy (equity fund with daily redemption), Sahmy 70 (EGX70 index tracker), and Education for Life (charitable education fund). The Brokerage division operates through Arabeya Online (AOLb), a wholly-owned subsidiary providing electronic trading, margin financing, and investment fund distribution. The Private Equity division manages Ayady for Investment and Development with investments across non-bank finance, media, healthcare, industry, and education sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Siula Money Market Fund Daily-yield money market fund denominated in Egyptian pounds that invests in liquid short-term financial instruments including bonds, treasury bills, bank deposits, and certificates of deposit. Targeted at individual and institutional investors seeking daily liquidity and competitive tax-exempt returns.
• 15/30 Fixed Income Fund Fixed-income securities fund denominated in Egyptian pounds offering daily purchase with semi-monthly redemption on the 15th and 30th of each month. Invests in government debt instruments, treasury bills, bank savings certificates, money market funds, corporate bonds, securitization, and Islamic sukuk. Targeted at investors seeking periodic liquidity and diversified fixed-income exposure.
• Makaseb GIG Takaful Cash Fund Sharia-compliant cumulative cash fund managed for GIG Egypt Life Takaful, offering daily cumulative return, tax exemption, and a life insurance benefit for first-issuance subscribers. Invests in Islamic-compliant short and medium-term instruments including treasury sukuk, bank deposits, and repurchase agreements. Targeted at investors seeking Sharia-compliant daily-liquidity products with insurance upside.
• Sahmy Equity Fund Egyptian equity fund launched in December 2022 offering daily subscription and redemption, targeting capital growth through investment in Egyptian securities. First equity fund in Egypt to offer daily redemption, achieving over 126% cumulative return from launch through April 2025. Targeted at investors seeking equity market exposure with daily liquidity.
• Sahmy 70 Fund First investment fund in Egypt tracking the EGX70 equal-weight index, providing exposure to 70 mid-cap Egyptian companies with equal weighting. Offers daily subscription and redemption, high liquidity, and automatic diversification across sectors. Targeted at investors seeking mid-cap Egyptian equity exposure with daily liquidity.
• Education for Life Charitable Fund First national charitable investment fund for education development in Egypt, structured as a nonprofit waqf (endowment). Invests interest funds to develop education initiatives and institutions with long-term sustainable impact. Distributed through Misr Bank and Bank of Cairo. Targeted at socially motivated investors seeking ethical educational impact.
• Arabeya Online Brokerage (AOLb) Wholly-owned subsidiary providing electronic trading services across Egypt. Offers online trading platform, mobile app, account management, same-day (T+0) trading, margin trading through partner banks, and investment fund subscription services. Held 6.8% Egyptian brokerage market share as of September 2023. Targeted at retail and institutional investors seeking electronic securities trading.
• Investment Banking Advisory Services Advisory services including M&A execution, IPO program management, restructuring services, and corporate finance mandates. Targeted at the Egyptian government, ministries, state-owned enterprises, and corporate clients.
• Private Equity Services Private equity division investing in non-bank financial institutions, media, healthcare, industry, and education sectors through Ayady for Investment and Development. Approximately EGP 1 billion deployed across 9 portfolio companies including Tamweely, Inmaa Finance, One Finance, EVCC, Ergo Media, Film Clinic, Future Healthcare, and AMD. Targeted at portfolio companies and co-investment partners in Egypt.
• Asset Management Services Discretionary and non-discretionary asset management of investment funds and segregated portfolios for private and government financial institutions, public and private sector companies, and high-net-worth individuals across diversified asset classes including equities and fixed income securities. Targeted at institutional and high-net-worth clients.

Quantifiable outcome

• 126% cumulative return on Sahmy equity fund since December 2022 through April 2025
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core, strategic, supporting and former portfolio.

• GIG Egypt Life TakafulcoreStrategic or Co-development Partner · 12 February 2025Partnership for Makaseb GIG Life Takaful Islamic money market fund. GIG Egypt provides insurance component and co-branding for Sharia-compliant fund product.
• Ministry of Education and Technical EducationstrategicStrategic or Co-development Partner · 26 October 2023MoU for establishing Egypt Biotechnology School for Applied Technology through Education for Life Fund, managed by NI Capital.
• Egypt's Company for Biotechnology Industries (MTBI)strategicStrategic or Co-development Partner · 26 October 2023Partner in establishing Egypt Biotechnology School for Applied Technology under Education for Life Fund initiative.
• Arabeya Online (AOLB)coreOthers · 1 January 2021Wholly-owned brokerage subsidiary acquired by NI Capital in January 2021. Provides electronic trading platform and branch network across Egypt.
• Misr Bank and Bank of CairosupportingChannel Partner/ Reseller/ Distributor · 18 December 2019Distribution channels for Education for Life Fund through major Egyptian banks.
• Ayady for Investment & DevelopmentcoreStrategic or Co-development Partner · 1 August 2017Joint venture partner in Tamweely microfinance and other investments. Ayady is managed by NI Capital and affiliated with National Investment Bank.
• Post for InvestmentcoreStrategic or Co-development Partner · 1 August 2017Joint venture partner in Tamweely microfinance and other investments through Egypt Post distribution network.
• Tamweely Microfinanceformer portfolioOthers · 1 August 2017Former portfolio company - microfinance provider serving MSMEs. Sold to international consortium including SPE Capital, EBRD, TCV, and BII for EGP 2.5+ billion in September 2024.
• National Investment Bank (NIB)coreOthersParent company relationship. NI Capital is the investment arm of National Investment Bank, the investment vehicle of the Egyptian government.
• Schneider Electric EgyptstrategicStrategic or Co-development PartnerPartner in Elektromisr School for Applied Technology under Education for Life Fund, supporting technical education development.
• IECD (European Institute for Cooperation and Development)strategicStrategic or Co-development PartnerPartner in technical education initiatives through Education for Life Fund.

Scale indicators10 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• EFG Hermes: Largest Egyptian investment bank offering investment banking, asset management, brokerage, and private equity. Directly competes with NI Capital across all three core lines and serves similar institutional, government, and retail clients in Egypt.
• Beltone Financial: Egyptian investment bank with investment banking, asset management, brokerage, and research capabilities. Comparable integrated platform targeting Egyptian institutional and government clients, including IPO advisory mandates.
• CI Capital (now part of Madinet Nasr Holding): Egyptian financial services group with investment banking, asset management, and securities brokerage. Competes head-to-head with NI Capital for government IPO mandates and institutional asset management mandates in Egypt.
• HC Securities & Investment: Egyptian investment bank offering brokerage, investment banking, and asset management. Notably, NI Capital's current CEO Mohamed Metwally was previously Deputy CEO at HC Securities, and the firm competes for similar institutional and high-net-worth clients.
• Pioneers Holding: Egyptian financial services holding company with investment banking, securities brokerage, and asset management divisions. Competes with NI Capital for retail brokerage flow and institutional mandates in Egypt.
• Pharos Securities: Egyptian investment bank with research, brokerage, asset management, and investment banking capabilities. Targets similar institutional and high-net-worth clients and competes for Egyptian ECM mandates.

Broad incumbents

• Commercial International Bank (CIB Egypt): Largest private-sector bank in Egypt with investment banking and asset management capabilities. Offers integrated financial services including brokerage through CIB's wealth platform, competing with NI Capital's institutional and HNW segments.
• QInvest: Qatar-based investment bank with significant Egyptian market activity, particularly in investment banking advisory and asset management. Competes for regional mandates that intersect with NI Capital's Egyptian franchise.
• Arab African International Bank (AAIB): Major Egyptian bank with investment banking and asset management divisions. Competes with NI Capital for institutional mandates, government advisory, and HNW client relationships.

Regional players

• EFG Finance Holding: Non-bank financial services arm offering factoring, leasing, and microfinance. Comparable to NI Capital's PE-backed portfolio in non-bank financial services (Inmaa Finance, Tamweely microfinance), though focused on different geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NI Capital