Hala El-Said, Minister of Planning and Economic Development and Chairperson of The Sovereign Fund of Egypt (TSFE), has witnessed the laying of the foundation stone for two schools in the Cosmic Village.
The project will be executed by TSFE and Mobica within the framework of the Fund’s plan to exploit movable assets and support education.
According to the agreed partnership model, GEMS Egypt will manage the two schools for an administrative fee.
Minister El-Said said the project reflects the Egyptian state’s intention to invest in untapped assets to achieve the highest possible returns, and that investment in education related to modern technologies is consistent with the national program for structural reforms and supports improving the quality of the human element in the labour market.
She added that this step supports the provision of the best educational services, with a quality that takes into account international standards, and at an appropriate cost for middle-income families in Egypt.
Al-Saeed explained that investing in providing distinguished education at a reasonable cost is the first step in achieving sustainable development and strengthening the opinion of the Egyptian human capital with qualifications that fit the requirements of the times.
Ayman Soliman, CEO of TSFE, confirmed that the fund is proceeding according to a strategic plan through its subsidiary funds to maximize returns on state assets, through innovative partnership models, where part of the land of the global village will be used to establish two schools in partnership with a national financial investor, and under the management of a specialized international company.
He added that the appropriate equation has been achieved in this partnership, which is represented in an untapped land, an ambitious national investor, and a professional global management, to achieve good financial returns suitable for the average returns of professional investment companies.
Soliman added that the education sector in Egypt is one of the promising sectors that achieve good and stable returns at the same time, which represents an attraction for local and international capital, as well as the provision of our distinguished national curricula in accordance with the best international standards, which constitutes support for the middle class in the face of phenomena such as waiting lists, the burdens and difficulties of private lessons, and that these schools will provide distinguished educational services at moderate prices to address the broad base of the Egyptian people and increase competitiveness, which pushes the pioneers of this sector to provide better educational services at moderate costs.
Mohamed Abdel Moneim, Chairperson and CEO of Mobica, said that the partnership with the Sovereign Fund of Egypt to establish I-Learn (Intelligent learning), which aims to provide students with the technological skills needed by the global market to enable them to work in those fields at a young age. It will lead to achieving a distinguished investment model that achieves good returns for all parties, and our entry into the education sector reflects the huge potential opportunities for the sector in Egypt.
Abdel Moneim added that his company seeks to invest in the field of high-quality education and make this level available to a larger segment of Egyptians, because the targeted financial returns for the sector are consistent with the national duty to develop human capital and create a platform that can expand and spread this experience at the level of the Republic to upgrade the education system while providing students with the various skills they need for the job market at the moment.
Ahmed Wehbe, CEO of GEMS Egypt, confirmed that the partnership with TSFE and Mobica in the field of education is a promising and distinguished step to provide educational content appropriate to the trends of the times with national curricula, and it is also the beginning of joint projects in the future, in Greater Cairo and geographically in other governorates through the fund’s assets that are being exploited, and to complement the journey of the Egypt Education Platform – Eduhub, by providing the best educational services and to complement its national goal.
