EFG Hermes Holding, an impact driven universal bank in Egypt with the leading investment bank franchise in Frontier Emerging Markets (FEM), announced today the appointment of Aladdin ElAfifi as the new CEO of its NBFI platform effective August 1st, 2022.  With his appointment, ElAfifi will assume the overall responsibility in leading the current EFG Hermes NBFI portfolio with the exception of the Firm’s Buy-Now, Pay-Later (BNPL) fintech platform valU, where he will become a non-executive board member representing the majority shareholder. ElAfifi will also be responsible for growing the NBFI operations through the addition of new services whether organically or through acquisitions.  



Holding an MBA degree from the Wharton School of the University of Pennsylvania, Aladdin boasts a track record of over 23 years with blue chip employers including Goldman Sachs, Qalaa Holdings, and an earlier stint with EFG Hermes’s investment banking team.  His last post was Managing Director and Co-CEO for Pharos Holding for Financial Investments, where he was instrumental in the creation of Egypt’s first nano-lending fintech start-up Kashat. ElAfifi also recently co-founded the Cairo-based real estate investment management and advisory business, 46 Group.



EFG Hermes firmly believes in the growth potential the NBFI vertical holds. Having started with just leasing in 2015, the Firm has invested heavily in growing the platform to now include microfinance, factoring, mortgage, e-payments, and insurance.  With the recent acquisition of Fatura by Tanmeyah, the commitment to the business remains strong as Tanmeyah becomes prepared for a future that will be increasingly digital in nature. With a strong leadership team, ElAfifi is set to implement the Firm’s strategy while further institutionalizing the business and readying it for potential monetization when the conditions are right.  



“We are incredibly excited to be welcoming back an industry veteran like Aladdin who will be a great addition to the EFG Hermes family. I believe ElAfifi’s experience and progressive mindset will be an asset to the next chapter of growth and diversification of the NBFI platform. This vertical can witness further expansion and remarkable success through dedicated and forward-looking leadership. We are confident this trend will continue under Mr. ElAfifi’s stewardship,” said EFG Hermes Holding’s Group Chief Executive Officer, Karim Awad.