The deal comes as part of CI Capital’s expansion strategy to foster its platform of non-banking
financial services in Egypt
CI Capital Holding (“CI Capital”), Egypt’s leading diversified financial services group, announces
today that it has reached an in principle agreement with Gemini Egypt Holding for Financial
Investments (“Gemini”), an investment vehicle owned by businessman Naguib Sawiris, to acquire
Gemini’s majority stake in Microfinance Enterprise Services – Reefy. Reefy is Egypt’s first licensed
microfinance player, serving more than 300,000 clients through 38 branches across Egypt. CI
Capital will provide its full support to the highly skilled and experienced management team that is
leading Reefy today, and will work closely with the existing shareholders of Reefy on enhancing
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. CI Capital recently announced the
acquisition of an additional stake bringing its total shareholding up to 86% in Corplease.
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 assets size, in addition to its market leading investment banking,
securities brokerage, research, and asset management franchises.