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CI Capital to acquire stake in Reefy

Africa Global Funds
Oct. 12, 2017, 10:46 a.m.
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CI Capital Holding has reached an agreement with Gemini Egypt Holding for Financial Investments, an investment vehicle owned by Naguib Sawiris, to acquire Gemini’s majority stake in Reefy.

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CI Capital Holding has reached an agreement with Gemini Egypt Holding for Financial Investments, an investment vehicle owned by Naguib Sawiris, to acquire Gemini’s majority stake in Reefy.

Reefy is Egypt’s first licensed microfinance player, serving more than 300,000 clients through 38 branches across Egypt.

CI Capital will work closely with the existing shareholders of Reefy on enhancing the strategic value and growth initiatives.

CI Capital aims to integrate Reefy onto its platform of non-banking financial services, which includes Corplease, Egypt’s market leader in financial leasing.

“Upon obtaining regulatory approval and the successful completion of the Reefy transaction, CI Capital will consolidate its position as one of the largest non-banking financial institutions in Egypt ranked by both portfolio and asset size, in addition to its market leading investment banking, securities brokerage, research, and asset management franchises,” CI Capital said in the statement.

CI Capital is an Egyptian firm that specialises in diversified financial services.

Through its headquarters in Cairo and offices in New York and Dubai, the company offers a wide range of financial services to a diversified client base that includes individual, high-net-worth people, and institutional investors and corporate clients. 

The firm offers its services across five core business lines: investment banking, securities brokerage, research, asset management, and financial leasing.

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Africa Global Funds (AGF) is a monthly magazine for asset management professionals and institutional investors worldwide interested in the African continent. AGF was created as a relevant and engaging resource that can provide readers with an insight of what is going on in the African asset management space. Drawing on an intense dialogue with a constantly expanding group of key decision-makers in the industry, we cover traditional and alternative asset classes of African asset management. From this dialogue we work hard to produce a compelling blend of hard news, incisive commentary, detailed sector and regional reports, exclusive interviews and proprietary data.

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