EFG Holding Launches Employee Pension Scheme, Appointing Kaf Insurance for Scheme Setup

EFG Holding, a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA), has launched an employee pension scheme, reinforcing its commitment to employees’ long-term financial security and retirement planning.

EFG Holding appointed Kaf Insurance, a joint venture between EFG Finance, an EFG Holding company, and GB Capital, to oversee the scheme’s setup and administration. Under the mandate, Kaf Insurance provides the scheme’s operational framework, administration capabilities, insurance expertise, and digital infrastructure, supporting the delivery of a structured retirement savings solution for EFG Holding employees.

The appointment reflects EFG Holding’s confidence in Kaf Insurance’s pension capabilities, while also underscoring Kaf’s growing position in Egypt’s pension market. Kaf Insurance surpassed EGP 1.6 billion in assets under management and recorded EGP 600 million in pension revenues year-to-date in 2026. The company is also targeting EGP 2 billion in assets under management by year-end, reflecting the continued expansion of its pension operations.

EFG Hermes Asset Management was appointed as the scheme’s investment manager, bringing its investment management expertise to the scheme and managing employees’ retirement savings in line with the scheme’s long-term objectives.

The launch brought together EFG Holding as the scheme sponsor, Kaf Insurance as the provider responsible for the scheme’s setup and administration, and EFG Hermes Asset Management as the investment manager. By leveraging capabilities across its group, EFG Holding is offering employees a structured pension solution designed to support their financial well-being beyond their years of service.

Inji Abdoun, Group Chief Human Resources Officer of EFG Holding, commented: “Our people have always been at the heart of EFG Holding’s long-term success, and supporting their financial well-being is an important part of our commitment to them. The launch of our employee pension scheme reflects our belief that employee benefits should extend beyond the present, providing greater financial security. We are proud to leverage the expertise within our Group to offer a structured retirement savings solution that reinforces our commitment to our employees throughout their careers and beyond.”

Youssef Shokeir, Deputy CEO of Kaf Insurance, said: “EFG Holding’s decision to entrust Kaf Insurance with the setup and administration of its employee pension scheme reflects the confidence placed in our capabilities and our commitment to delivering a comprehensive pension proposition. Having surpassed EGP 1.6 billion in assets under management, we continued to build on our momentum by strengthening our operational capabilities and digital experience to serve both employers and their employees. We believed that well-structured pension schemes played an important role in supporting employees’ long-term financial well-being, while giving employers an effective way to strengthen their employee value proposition.”

Karim Zaafan, Managing Director at EFG Hermes Asset Management, said: “Managing retirement savings required a long-term perspective, disciplined investment management, and a clear understanding of the responsibilities that come with safeguarding employees’ financial futures. Through this scheme, we brought our investment management expertise into an initiative that directly supported the long-term financial security of EFG Holding’s employees. We are committed to applying our capabilities to managing the scheme in line with its objectives and supporting a sustainable approach to retirement planning.”