Cairo – Mubasher: Egypt Education Development Fund, a sub-fund of The Sovereign Fund of Egypt’s (TSFE), has signed a shareholders’ agreement with and Al Ahly CIRA for Educational Services to establish a new company to develop four new international university models in Egypt.

The project includes launching a group of branches of international universities and technological universities in Egypt, according to a press release.

Al Ahly CIRA for Educational Services is a joint-venture between CIRA Education, Al Ahly Capital Holdings (ACH), the National Bank of Egypt’s private equity arm, and the Education Support and Development Authority.

The new universities will be established in partnership with global educational institutions from Canada, Switzerland, Germany, and the US.

Those partners are set to be announced upon the finalisation of the relevant cooperation agreements.

Hala El-Said, Minister of Planning and Economic Development and Chairman of the TSFE, underscored the government's dedication to education and ongoing efforts to propel the sector forward.

She emphasised that the 2024-2025 economic and social development plan aims to enhance the competitiveness of higher education by offering investment incentives tailored for the private sector.

Hassan El Kalla, CIRA Education’s Chairman, said: “By joining forces with world-renowned universities and combining our resources and expertise, we are poised to create academic institutions that meet the highest global standards while addressing the diverse needs of our students and communities.”

Ayman Soliman, CEO of TSFE, stated: “This partnership exemplifies our dedication to creating impactful public-private collaborations that enrich the educational journey of Egyptians. By partnering with Al Ahly CIRA, we are bringing world-class education to our national campuses, ensuring accessibility and affordability.”