EFG Hermes to acquire minority stake in Kenzi Wealth


June 12, 2024

On May 21, 2024, EFH Hermes announced that it acquired a minority stake in Kenzi Wealth.

EFG Hermes (“EFG”) announced on May 21, 2024, that it acquired a minority stake in Kenzi Wealth (“Kenzi”). As part of the deal, EFG plans to incorporate Kenzi Wealth’s technology to enhance its trading platform, EFG Hermes ONE. Further terms of the transaction were not disclosed.

EFG, based in Cairo, Egypt, is a subsidiary of EFG Hermes Holding S.A.E. (“EFG Holding”) and an investment bank in the Middle East and North Africa region providing financial services, including advisory, asset management, securities brokerage, research, and private equity. EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a holding company operating within three distinct verticals — the Investment Bank (EFG), Non-Bank Financial Institutions (EFG Finance), and Commercial Bank (aiBANK). As of March 31, 2024, EFG Holding had approximately EGP 228.9 billion in assets under management.

Kenzi, based in Copenhagen, Denmark, is an AI-powered digital wealth manager providing asset management, risk management, and tax planning services.

To read the press release: please click here.

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