EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its Investment Banking division has successfully concluded its role as the sole financial advisor for Nawy Now, the mortgage arm of leading proptech company Nawy. The transaction involves the successful 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 (EGB), the Commercial International Bank (CIB), the Suez Canal Bank (SCB), Bank NXT, and Emirates NBD (ENBD).
The secured financing is a significant milestone for Nawy Now, enabling the company to scale its innovative mortgage solutions and support its ‘Move Now, Pay Later’ model. The funds will be deployed 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 – Debt Capital Markets at EFG Hermes, commented on the transaction, stating, “We are incredibly proud to have partnered with Nawy Now on this landmark debt advisory transaction. 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.”
Omar El Barouny, Managing Director of Nawy Now, added, “Securing this level of funding is a pivotal moment for Nawy Now. It gives us the capital we need to bring our product to more people across Egypt, helping homebuyers access ready-to-move homes with greater flexibility and confidence. This is about more than just financing; it’s about making the entire homeownership journey faster, and more seamless.” Building on this, Amr Malek, Chief Financial Officer at Nawy, noted, “The backing of 6 of Egypt’s top financial institutions speaks volumes about the strength and credibility of Nawy’s business model. 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.”
