Re-introducing Act Financial’s Wilzy: Act Financial has rebranded its subsidiary Act Holding to Wilzy, marketing it as a digital investment platform that provides individual investors with access to advanced analytical and advisory tools, Managing Director and Co-Founder of Act Financial Mostafa Abdel Aziz said during a presser attended by EnterpriseAM yesterday.

The official launch of Wilzy will happen later this year, he said, adding that Act Financial is in the process of appointing its executive management.

The details: Wilzy plans to offer between 20 and 30 investment products — some of which will be new to the local market — over a five-year period, Abdel Aziz told EnterpriseAM on the sidelines of the press conference. Some of the products may be launched in collaboration with other companies. Wilzy has plans to secure up to ten licenses from the Financial Regulatory Authority before the end of the year, he added.

Expansion into brokerage and asset management: Wilzy owns two subsidiaries, Act Brokerage and Act Asset Management, however they are yet to kick off operations despite Wilzy securing the required licenses. There are plans to have both firms launch operations before the end of the year.

Fresh faces to join Wilzy shareholder structure this year: Act Financial aims to sell off a 10% stake in Wilzy to a strategic investor this year through a capital increase, Abdel Aziz told us, adding that the subsidiary’s current capital stands at EGP 150 mn. Act Financial owns 90% of Wilzy, while the remaining 10% belongs to an undisclosed local strategic investor, he explained.

Apart from Wilzy, what’s in the pipeline for Act Financial? The company is in the process of obtaining credit facilities of at least EGP 1 bn from a non-banking institution, according to Abdel Aziz. With this new financing, Act Financial aims to increase its own investment volume in the local market to at least EGP 4.5 bn during the current year, up from EGP 3.5 bn at the moment.

Act Financial is eyeing a stake in an undisclosed company, he said, noting that the company is currently looking into a list of companies to invest in — three of which are EGX-list and six are unlisted. At the moment the company is prioritizing listed companies seeing as their valuation is cheaper, Abdel Aziz said.

REMEMBER- Act Financial last year completed its IPO, offering some 32% of the company to investors.

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