EFG Holding Launches Employee Savings Program with Kaf Insurance and EFG Hermes Asset Management

Tuesday 10 November 2026 11:11

EFG Holding has announced the launch of a savings program for its employees in collaboration with Kaf Insurance and EFG Hermes Asset Management. The initiative reflects the group’s commitment to improving employees’ long-term financial security and supporting their retirement planning.

Kaf Insurance to Establish and Administer the Program

EFG Holding has appointed Kaf Insurance to establish and administer the program, drawing on the company’s expertise in digital insurance solutions. Kaf Insurance will provide the operational framework, administrative services, insurance expertise, and digital infrastructure required to deliver structured savings solutions for the group’s employees.

Kaf Insurance was established through a strategic partnership between EFG Finance, a subsidiary of EFG Holding, and GB Capital.

Kaf Insurance Assets Under Management Exceed EGP 1.6 Billion

The partnership highlights EFG Holding’s confidence in Kaf Insurance’s capabilities and experience in savings programs, while reflecting the company’s growing position in Egypt’s retirement market.

Kaf Insurance’s assets under management have exceeded EGP 1.6 billion, while its retirement business has generated EGP 600 million in revenue since the beginning of 2026. The company aims to increase its assets under management to EGP 2 billion by the end of this year.

EFG Hermes Asset Management to Oversee Investments

EFG Hermes Asset Management will be responsible for managing the program’s investments, leveraging its expertise in investment management and employee retirement savings to support the initiative’s long-term objectives.

Under the arrangement, EFG Holding will sponsor the program, Kaf Insurance will establish and administer it, and EFG Hermes Asset Management will oversee its investments. The collaboration brings together the group’s capabilities to provide structured retirement savings solutions and support employees’ financial well-being during and after their careers.

EFG Holding Executives Highlight Employee Financial Security

Engy Abdoun, Head of Human Resources at EFG Holding, said employees have been central to the group’s success over the years, adding that supporting their financial stability and well-being remains a key commitment.

She noted that the new program reflects the group’s belief that employee benefits should extend beyond their employment years, providing greater long-term financial security through the combined expertise of its subsidiaries.

Youssef Shokair, Deputy CEO of Kaf Insurance, said EFG Holding’s decision to appoint the company to establish and administer the program demonstrates confidence in its capabilities and integrated savings solutions.

He added that Kaf Insurance continues to strengthen its operational capabilities and develop its digital services to meet the needs of companies and their employees. He also emphasized the role of well-designed savings programs in supporting employees’ long-term financial stability.

Karim Zaafan, Executive Director in EFG Hermes’ Asset Management division, said retirement savings management requires a long-term investment vision, a disciplined approach, and a clear understanding of the responsibility involved in protecting employees’ financial futures.

He added that EFG Hermes Asset Management will draw on its investment management expertise to manage the program’s portfolio in line with its objectives and support sustainable retirement planning.