· The Sovereign Fund of Egypt (TSFE) has committed LE250 million to the EFG Hermes Education Fund’s third close.
· Both the organisations have also signed a memorandum of understanding to develop and operate two premium national schools in western Cairo.
The Sovereign Fund of Egypt (TSFE) has committed LE250 million to the EFG Hermes Education Fund’s third close. Both the organisations have also signed a memorandum of understanding to develop and operate two premium national schools in western Cairo. The proposed school to be built over 30,000 sqm will be constructed on TSFE-owned land and will have a capacity of 2,500 students each.
Over the last two years the fund injected investments amounting to almost LE1.6 billion. The investment TSFE’s first in Egypt’s education sector is in tune with the state’s strategic priorities, which are aligned with its political leadership’s vision said the Minister of Planning & Economic Development and Chairperson of TSFE Dr. Hala El Said said. Education is central to Egypt’s Vision 2030 for the development of future generations, especially through the use of technology. He added that TSFE’s focus on these investments will assist in meeting multiple objectives of utilizing idle assets and creating educational capacities while generating sustainable returns on investment.
CEO of TSFE AymanSoliman remarked that the partnership between TSFE, EFG Hermes, and GEMS Egypt will set a benchmark in the sector and will reflect the national curricula through a school model that also focuses on the development, sports, interpersonal skills, and technological integration. It plans to develop a modern curriculum that is in sync with Egypt’s future vision for education.
