Al Ahly CIRA to set up four new international university models in Egypt: Al Ahly CIRA — an education investment company set up by CIRA Education and the National Bank of Egypt’s Al Ahly Capital Holding in 2021 — will develop four new international university models in Egypt under a newly-signed agreement with the Sovereign Fund of Egypt (SFE), according to a statement from the cabinet and a joint statement (pdf) from the participating parties.

International expertise: The universities will be established in collaboration with global educational institutions from Canada, Switzerland, Germany, and the US, with the specific partners set to be announced once cooperation agreements are finalized, the statement read. This collaboration will help create institutions that meet the highest global standards and address the diverse needs of Egyptian students, CIRA Education Chairman Hassan El Kalla said.

The comeback of the PPP education program? The new universities will be set up under a public-private partnership, potentially reviving the long-stalled PPP education program. It was also announced this week that the state is expected to offer 26 schools to private sector players in the next two months.

Vouching for PPPs: “This collaboration underscores the immense potential of public-private partnerships in driving sustainable development and societal progress,” El Kalla added.

Part of a wider plan: The project comes as part of the government’s economic and social development plan for the upcoming fiscal year, which aims to increase “the competitiveness of higher education through a set of incentivizing investment packages for the private sector,” as well as elevating the quality and international competitiveness of Egyptian public universities, increasing the number of tech-focused universities in partnership with the private sector, and increasing the number of international students enrolled in Egypt’s educational institutions, Planning Minister and fund chair Hala El Said said.

What they said: “This partnership exemplifies our dedication to creating impactful public-private collaborations that enrich the educational journey of Egyptians,” SFE CEO Ayman Soliman added. “By partnering with Al Ahly CIRA, we are bringing world-class education to our national campuses, ensuring accessibility and affordability,” he added.

Advisors: Al Ahly CIRA has tapped Al Tamimi & Company to represent the investment company in its partnership with the SFE, the law firm said in a statement seen by Enterprise.

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