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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.

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