Cairo – Mubasher: EFG Hermes, a unit of EFG Holding, has successfully concluded its role as the sole financial advisor for Nawy Now, the mortgage arm of leading proptech company Nawy, according to a press release.
Its Investment Banking division led the arrangement of EGP 1 billion in bilateral facilities from a consortium of six leading banks, including the National Bank of Egypt (NBE), the Egyptian Gulf Bank, the Commercial International Bank (CIB), the Suez Canal Bank, Bank NXT, and Emirates NBD.
The secured financing marks a milestone for Nawy Now, enabling the company to expand its innovative mortgage solutions and support its ‘Move Now, Pay Later’ model.
It will utilize the funds to provide flexible and accessible homeownership options to a broader segment of the Egyptian market, streamlining the often-complex process of property acquisition.
Maie Hamdy, Managing Director of Debt Capital Markets at EFG Hermes, commented: “The successful closing of this EGP 1 billion financing is a testament to the strong confidence that leading financial institutions have in Nawy's business model and its potential to revolutionize the Egyptian real estate market.”
“This transaction further solidifies EFG Hermes' position as a trusted advisor for innovative companies seeking to access diversified funding sources to fuel their growth and expansion,”
Amr Malek, Chief Financial Officer at Nawy, noted: “This financing not only supports the growth of Nawy Now but also reinforces our ability to scale the wider ecosystem responsibly, sustainably, and with long-term capital efficiency.”
EFG Hermes recently advised on Jamjoom Fashion Trading Company’s initial public offering (IPO) and listing on the Parallel Market (Nomu) of the Saudi Exchange.
