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Thursday, 3 October 2019

Egypt imposes 20% cap on foreign ownership of private schools

Egypt imposes 20% cap on foreign ownership of private schools: Education Minister Tarek Shawki imposed a 20% cap on foreign investor ownership of private schools, according to a decree seen by the press. The cap applies to all foreigners, including dual-passport holders, funds, entities and authorities. Investors will need to present documents outlining their ownership and won’t be allowed to sell any shares without prior approval. A similar cap was imposed on international schools last month, prompting concerns among school owners that the move would stifle investment. Private school owners have asked that both decrees be suspended pending dialogue between the ministry and industry stakeholders, and suggested discussions between the ministry and industry stakeholders.

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