Kaf Insurance, a joint venture between EFG Finance, an EFG Holding company, and GB Corp, Egypt’s fastest-growing tech-enabled insurance company, is expanding its suite of corporate solutions with an innovative pension product. This new offering combines competitive investment returns with advanced reporting capabilities, all delivered through a truly customer-centric digital interface. Recognizing the vital role of human capital, the company has leveraged technology to provide a dual-platform solution that makes saving for retirement simple, transparent, and rewarding. This innovative approach enables both employers and employees to easily monitor their pension plans, facilitating the construction of a secure financial future.
In a market where health and life insurance have traditionally formed the foundation of employee benefits, pensions are an equally essential component for long-term financial well-being. As a valuable addition to employers’ benefits packages, private pensions not only strengthen employee retention but also play a crucial role in bridging Egypt’s retirement income gap, empowering individuals to plan confidently for a secure future.
Recognizing the gap in Egypt’s private pension sector, Kaf has developed a pioneering pension app to drive interest among both employers and employees. The user-friendly interface enables employees to view their pension account savings transparently and seamlessly, track both personal and employer contributions, review investment returns, and monitor vested amounts. They can also top up their savings across multiple asset classes, including money market funds, fixed income, equities, USD-based funds, and a specialized gold fund without any hidden fees.
On the corporate side, the HR dashboard provides employers with complete, real-time control over pension investments, seamless onboarding for new employees, and efficient fund disbursement. This B2B approach enables companies to strengthen their employee value proposition while effectively managing pension strategies.
Sohail Ali, CEO of Kaf Insurance, commented: “The transformative potential of pensions to enhance financial security is known and understood the world over, and we’re delighted to have captured the imagination of employees and employers through the introduction of interactivity and transparency to this arena.
For too long, employees have seen their company’s pension provision as a negative (a deduction on their monthly payslip). Our tool, by applying some principles from gamification, turns this dynamic on its head and boosts employee engagement, motivation, and appreciation of this valuable benefit.
While we anticipated strong interest, the market’s enthusiasm and rapid adoption of our solution have far surpassed our expectations. We are proud to have already onboarded several major corporations in our first year of the offering, a clear testament to the success and impact of our approach.
We’re delighted by the feedback from our clients’ HR departments, who tell us that, since moving their pension arrangements to Kaf, their employees have never been so engaged and appreciative of this benefit.”
Since launching the product last year, Kaf’s pension assets under management (AuM) have exceeded EGP 500 million, with over 14,000 subscribers enrolled—underscoring the platform’s strong performance, distinctive value proposition, and ability to meet the financial security needs of both companies and individuals. The program has delivered market-beating investment returns ranging from 24% to 37% across various funds in the 12 months ending June 30, 2025, outperforming the market by as much as 10%. These results highlight Kaf’s customer-centric approach, unwavering commitment to transparency, and success in leveraging cutting-edge technology alongside attractive investment strategies.
Youssef Shokeir, Deputy CEO of Kaf Insurance, added: “We are only at the beginning of this journey, and we are excited about what’s ahead. Our focus remains on continuously enhancing our pension proposition and introducing new features that will help establish retirement solutions in Egypt as a priority employee benefit. With the strong momentum we are seeing, we foresee our assets under management surpassing EGP 1 billion by the end of 2025, further cementing our role as a leader in shaping the future of financial security”.
Underlying Kaf’s pension proposition are exclusive partnerships with EFG Hermes Asset Management and Azimut Asset Management, providing clients with access to expertly managed investment portfolios and top-tier asset managers. These collaborations enable employers to develop customized investment plans that cater to the unique needs of their workforce. Further, this enables Kaf to offer diverse investment options, such as Gold and USD-backed funds, which provide valuable portfolio diversification and ensure long-term investment preservation. This unique offering distinguishes Kaf as the only corporate pension provider in Egypt with a focus on optimizing pension investments.
The partnership with EFG Hermes Asset Management stands out for its breadth and flexibility, providing Kaf clients with the ultimate investment solutions. This allows them to work with Kaf and EFG Hermes to design customized portfolios aligned with their corporate goals and employee needs. This flexibility, combined with EFG Hermes’ expertise, helps maximize returns while effectively managing risk.
About Kaf Insurance:
Kaf is an Egyptian insurance company licensed to offer life, savings, and health insurance products. Established in 2021 as a collaboration between EFG Finance, EFG Holding’s Non-Bank Financial Institutions (NBFI) platform, GB Capital, and Tokio Marine, Kaf is committed to building a meaningful local insurance platform to drive value for individuals and businesses in the life, savings, and medical arenas for the segments of society that have low insurance penetration. The company aims to constantly provide innovative insurance solutions to boost demand in the retail and corporate markets and bridge the ‘insurance gap’ in Egypt.
Learn more about us at: www.kaf.com.eg
About EFG Holding:
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a cornerstone of the financial sector in the MENA region, boasting a legacy of excellence spanning over 40 years across seven countries and two continents. Built on a foundation of innovation and trust, the company operates through three core verticals: the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and the Commercial Bank (Bank NXT). Together, these divisions deliver a comprehensive suite of groundbreaking financial products and services, meticulously designed to cater to the diverse needs of individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria
