GCC, international funds own 45% of CIRA Education

Updated 11/8/2022 8:41:00 AM

Arab Finance: GCC funds, including the Saudi Public Investment Fund (PIF), own around 15% of Cairo Education (CIRA), while European and American funds hold 30% of the company, CIRA’s CEO Mohamed El-Kalla said in an interview with Al Mal News.

The company plans to open the first phase of the Technology University in September 2023 with investments of around EGP 700 million, El-Kalla revealed.

He noted that the company was negotiating an EGP 600 million loan with the National Bank of Egypt (NBE).

The top executive stated that the company was planning to pump EGP 200 million investments into Badr University, and build schools in a group of governorates.

El-Kalla unveiled that CIRA was considering issuing securitization bonds of EGP 800 million.

 

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