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Mohamed Gamal Abdel Kader ElGarhy has joined the board of EFG Holding as a representative of ElGarhy Group for Investment and Development, as part of the company’s newly formed board for a three-year term.

The appointment comes as ElGarhy Group continues to strengthen its position within EFG Holding’s ownership structure. The group recently increased its stake to exceed 5% of the company’s share capital, reinforcing its strategic presence in one of Egypt’s leading financial institutions.

As part of this move, ElGarhy Group acquired approximately 1.75 million shares in EFG Holding at an average price of EGP 24.99 per share, with a total transaction value of around EGP 43.7 million.

According to transaction data, the total ownership of related parties rose to approximately 11.311%, up from 6.297% prior to the deal, reflecting a significant increase in the group’s consolidated stake.

Earlier in January, the Egyptian Competition Authority approved the acquisition request submitted by ElGarhy Group alongside Egyptian Steel Company and Egyptian Iron and Steel Products Company, as well as individual investors including Amal Ezzat Rabie Mohamed ElGarhy and Dalia Gamal Abdel Kader ElGarhy, for a 5.02% stake in EFG Holding.