NI Capital Management represented by Hazem Kamel, Managing Director of Private Equity, took part in a signing ceremony between Enmaa, one of Ayady’s portfolio Companies, The Saudi Development Fund, and the Ministry of Investment and International Cooperation.
Ayady for Investment and Development and NI Capital, the investment arm of the National Investment Bank and investment Manager of Ayady, have established Creative Media Ventures (Ebda3) LLC, a media technology fund, with 250 million Egyptian Pounds as seed capital. The company will invest in the digital and media tech sector as well as traditional media to enhance Egypt’s position in the media.
“Creative Media Ventures aims to invest in the media sector in order to develop the sector and contribute to increasing the economic returns of media sector in the national GDP.” said Osama Saleh, Chairman of Ayady for Investment and Development. He added that the introduction of technology to the sector and investment in its pioneers will restore Egypt’s position in the media to its previous glory.
“Creative Media Ventures will focus on investing in emerging and fast-growing companies in the technology media sector, which has significant growth opportunities in line with the global trend of investments.” said Ashraf Ghazaly, CEO and Managing Director of NI Capital.
NI Capital and Ayady Award The Creative Media Ventures “Ebda3” $10,000 prize at El Gouna Film Festival (GFF)
NI Capital and Ayady awarded Egyptian film Abu Zaabal 1988 the Creative Media Ventures “Ebda3” $10,000 prize at the CineGouna Springboard awards ceremony at El Gouna Film Festival (GFF). Ebda3 is a $14m Ayady media venture capital fund managed by NI Capital with a primary focus on investing in media and media tech startups and fast-growing businesses.
Ayady for Investment and Development, NI Capital, the investment arm of the National Investment Bank, and Post for Investments have joined forces to establish Tamweely for Microfinance with an issued capital of EGP 50mn and an authorized capital of EGP 500mn. Tamweely for Microfinance offers full-fledged financial products and services backed by technology solutions to channel finance to individuals and micro-enterprises, thus promoting financial inclusion and contributing to job creation in line with Egypt’s Vision 2030.
Taweely for Microfinance is led by a strong group of renowned board members comprised of shareholder representatives and independent members. Independent board members include Amr Abo El Azm, Board Member at SME Development Authority and The International Council for Small Business (ICSB), Moataz El Tabaa, Ex Chairman of the Egyptian and the Global Microfinance Network, and Ayman Ismail, Founder of AUC Venture Lab, and Chairman of a financial technology company. These members bring extensive experience in the fields of microfinance, banking, social impact and financial technology to the company.
Ayady for Investment and Development Chairman, Ossama Saleh said, “Taweely for Microfinance aims to support and finance high potential micro-business prospects with a focus on upper Egypt and delta. Tamweely is a promising addition to Ayady’s investment portfolio aiming to invest in economically viable projects which have developmental impact on job creation, access to finance and financial inclusion”
NI Capital Chief Executive Officer and Managing Director, Ashraf Ghazaly said, “Tamweely for Microfinance is an important milestone in our non-banking financial services platform. We are committed to providing and developing finance and capital channels with an aim to support the growth and development of the Egyptian economy.”
Post for Investment (PFI) Chief Executive Officer said, “Post for Investment is one of the most important investment arms of the Egyptian Postal Authority and we are keen to optimize the usage of our wide spread unique modeling network of geographic distribution post offices in Egypt to bring Tamweely for Microfinance to the largest number of clients and beneficiaries with ease especially in the Delta and Upper Egypt.”
NI Capital signs an agreement with Ministry of Investment and International Cooperation, Flat6Labs and Egypt Ventures to support and encourage innovation and Entrepreneurship