CIRA and The Sovereign Fund of Egypt Strike a Partnership to Establish Two New Schools in West Cairo
Posted on 11/29/2021
The Sovereign Fund of Egypt (TSFE) signs a partnership agreement with CIRA to invest in the education sector. The Sovereign Fund of Egypt (TSFE) was established in 2018 to attract private investments to Egypt and promote and co-invest in state-owned assets to maximize their value and efficiency for the Egyptian economy. Its goal is to maximize the value of sate-owned assets and to manage them in a manner that prioritizes returns for the state and for future generations of Egyptians — all in partnership with the domestic and international private sector. It operates through unique legislation that allows it to operate with a private-sector mindset and according to private-sector laws and regulations. Its goals include investing in transactions that create jobs and give incentives to the private sector to participate in the Egyptian economy. CIRA is the largest integrated provider of education services in the Egyptian private sector. As of November 2021, CIRA operates 21 schools with 28.5K students and Badr University in Cairo (BUC) with a total student body of 13.2K in 16 different faculties.
The partnership’s initial project is launching two new schools in the Cosmic Village with a total investment of 350 million EGP. The two schools only stamp the beginning of an ongoing partnership between all sides within the strategic alignment of bringing this type of education to the different governorates all over Egypt. The two schools that will be established are, Futures Tech- one of Egypt’s top national schooling brands, and Regent British School – a brand that proved an immense success in British education. The two schools are expected to start operations by September 2023.
