Cairo – Mubasher: EFG Hermes on Sunday announced that it has entered into a partnership with the prominent provider of education services GEMS Education to launch a new education-focused platform focused on Egypt.
Upon the partnership, EFG Hermes will establish an investment fund to be directly managed by its private equity arm to finance the joint venture’s projects in order to provide a unique educational experience for students from kindergarten to twelfth grade, the company added in a statement.
The joint venture with GEMS Education will allow investors to invest in largest education markets in the Middle East and North Africa, as with over 20 million enrolled students in Egypt’s main education sector, head of Asset Management and Private Equity at EFG Hermes Karim Moussa said.
EFG Hermes aims to benefit from this partnership in maximising value while creating a sustainable future for next generations, Moussa continued.
For his part, CEO of GEMS Education Dino Varkey said that Egypt has the largest education system in the MENA region, in terms of student population.
GEMS Education seeks to provide distinguishable educational options for families in Egypt based on a 50-year experience.
