Back to the complete issue
Tuesday, 18 August 2020

GEMS to invest EGP 1 bn to add four schools to its Egypt portfolio

INVESTMENT WATCH- GEMS to invest EGP 1 bn to add four schools to its Egypt portfolio: Private-sector education provider GEMS has earmarked EGP 1 bn to build two new schools and to purchase two existing facilities over the coming year, GEMS CEO Ahmed Wahby announced at a presser yesterday to unveil its new partnership with ValU. The company is already going ahead with the new-build schools, with one facility in West Cairo and one in Rehab. GEMS’ current portfolio includes operating three schools in Madinaty and one in Al Rehab.

Background: GEMS, which operates in Egypt in a joint venture with EFG Hermes, yesterday signed an agreement with EFG Hermes’ e-finance platform ValU to provide tuition fee payment solutions to parents. These include low-interest bridge loans that would give parents breathing space to pay tuition fees in installments.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.