Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, has acquired a minority stake in  Copenhagen-based fintech Kenzi Wealth, according to a press release.

The Danish digital wealth manager uses advanced AI-powered asset management technologies and investment risk analytics to enable investors to construct and rebalance their portfolios.

The acquisition aligns with EFG Hermes’ commitment to driving innovation in the fintech sector and boosting access to enhanced investment solutions.

EFG Hermes will manage to secure a more efficient and personalized investment experience by integrating its client network and Kenzi Wealth’s innovative AI tools.

By deploying AI capabilities, investors will have access to an advanced way to manage their portfolios and the ability to customise their investment journey per their specific needs.

Ahmed Waly, Global Head of Brokerage at EFG Hermes, commented: “ The fusion of our acclaimed research capabilities with Kenzi Wealth's cutting-edge AI-powered digital Investment tools is part of our shared vision to introduce a truly comprehensive and unparalleled end-to-end investment experience that sets a new standard in the industry."

Mohamed El Masri, Founder and CEO of Kenzi Wealth, said: “This partnership will enable us to offer new investment tools to investors powered by technology and unrivaled research capabilities."

Waly affirmed: "We are committed to empowering our clients with the tools they need to make informed investment decisions and achieve their financial goals."

He added: "There are numerous opportunities for additional synergies based on EFG Hermes' ambitious fintech roadmap, which aims to develop a wider range of investment products and services in collaboration with Kenzi Wealth."

Last April, the investment banking division of EFG Hermes concluded the issuance of an EGP 600 million senior unsecured short-term note for the Hermes Securities Brokerage Company (HSB).