Egyptian investment bank EFG Hermes has entered into an exclusive partnership agreement with Global Education Management Systems (GEMS Education) to jointly establish an investment platform worth USD 300 mn, targeting the basic education sector in Egypt, Invest-Gate reports.
EFG Hermes says that the platform will be directly managed by its private equity arm to finance the joint venture’s projects alongside GEMS Education, providing “high-quality” education for Egypt’s kindergarten to twelfth grade (K-12) education sector, the company says in a statement.
EFG Hermes’s 50/50 joint venture with GEMS Education will allow investors to invest in Egypt’s large education market which has over 20 mn enrolled students, Head of Asset Management and Private Equity at EFG Hermes Karim Moussa explains.
“We will target replicating GEMS Education’s success in the United Arab Emirates and elsewhere, introducing the international education standards that GEMS Education delivers, to a highly underserved education sector in Egypt,” he adds.
GEMS Education is one of the world’s leading providers of private English-language education for students enrolled in the K-12 sector.