Synergy Capital and Nawy Now close EGP 633M fund issuance

Synergy Capital, via its asset-management arm Misr for Financial Investments (MFIC), and Nawy Now have closed a second issuance of a Shariah-compliant, Ijarah-based fixed-income fund at EGP 633 million. This brings the total capital raised under the five-year, EGP 5 billion programme to over EGP 1 billion in less than one year.

The programme utilizes a lease-to-own model, which is the first of its kind for a fixed-income securities fund in Egypt and the Middle East. The fund offers returns backed by real-estate mortgage receivables. The second issuance saw increased participation from a diverse investor base, including the first involvement of non-governmental, non-profit organisations in this type of issuance in Egypt.

Quarterly distributions for the second issuance are expected to begin in September 2026. The success follows the first issuance, which closed at EGP 443 million and has distributed approximately EGP 118 million to holders. According to the Financial Regulatory Authority, the first issuance achieved cumulative returns of approximately 12.9% in Egyptian-pound terms during the first half of 2026.