Synergy Capital and Nawy Now have closed a second issuance of a Sharia-compliant fixed-income fund, raising EGP 633 million and taking total capital raised under the program to more than EGP 1 billion in less than a year.
The issuance was completed through Synergy Capital’s asset management arm, Egypt Financial Investments (MFIC), and Nawy Now, the mortgage finance arm of Nawy. The five-year program has a total target of EGP 5 billion and is backed by mortgage finance receivables linked to real estate assets.
The closed-ended fund is supervised by Egypt’s Financial Regulatory Authority, with quarterly distributions for the second issuance scheduled to start in September 2026. It targets institutional and qualified investors and is designed to offer Sharia-compliant fixed-income exposure.
The second issuance attracted new institutions, including non-governmental and non-profit organizations. According to company data, all investors from the first issuance also participated in the latest round.
The first issuance closed at EGP 443 million in October 2025 after demand exceeded its target. It has since distributed nearly EGP 118 million across three payment cycles, with no reported delays or defaults. Financial Regulatory Authority data showed returns of 6.63% in the first quarter of 2026 and 6.25% in the second quarter, for cumulative first-half returns of about 12.9% in Egyptian pounds.
Synergy Capital and Nawy Now said they plan additional issuances as Nawy Now’s financing portfolio grows, with potential expansion to Gulf and other international markets through licensed placement partners.
Source: EntArabi
