CIRA Education sees net income, revenues rise at start of fiscal year

Our friends at CIRA Education saw their normalized net income nearly double in 1Q FY 2025-2026, rising 95% y-o-y to EGP 354.3 mn, according to the EGX-listed education provider’s latest earnings release (pdf). The jump was supported by a 38% y-o-y increase in revenues during the quarter to EGP 1.4 bn with growth across all of CIRA’s platforms.

Higher education remained the company’s main growth driver, with revenues climbing 44% y-o-y to EGP 990.3 mn and normalized net income up 37% y-o-y to EGP 491.3 mn, backed by a “significant increase in enrollments” at existing universities and the launch of Saxony Egypt University.

Looking ahead: “Key milestones on the horizon include the launch of Canada’s Seneca campus in East Cairo and the development of the Advanced Sci-Tech International Hub in Damietta, both targeted to commence operations by September 2027. These initiatives keep us firmly on track toward our long-term ambition of reaching 100k enrolled students across our platforms by 2030,” CEO Mohamed El Kalla said.

IFC to extend USD 220 mn in green financing to Banque Misr

The IFC is set to provide a USD 220 mn green and sustainability-linked financing package to Banque Misr, to bolster climate-friendly lending and support small businesses, according to a project summary from the World Bank body. The package features a USD 150 mn three-year senior loan earmarked for climate assets, alongside a MSME-focused component that requires a 20% carve-out specifically for women-owned enterprises.

Abwaab acquires Apex Education to scale elite college admissions

Jordanian edtech powerhouse Abwaab has acquired local education startup Apex Education, to expand its services into high-end college advisory and admissions preparation, according to a company statement. The move allows Abwaab to integrate Apex’s expertise in placing students into Ivy League and top-tier global universities like Harvard and Oxford into its existing tutoring and test-prep ecosystem. Apex founder Leila Hassan will continue to lead the college admissions function at Abwaab as the firm scales its personalized guidance across the MENA region.

Jameel Finance wraps up second securitization issuance

Jameel Finance closed a EGP 470 mn securitized bond issuance, according to a statement from counsel Dreny & Partners. The issuance is the second of a broader three-year, multi-issuance program worth a total of EGP 4 bn. The bond was backed by a receivables portfolio originated by Jameel Finance and came in three tranches, which received tenors ranging from P1 to A+ by the Middle East Ratings and Investors Service.

ADVISORS- Beltone Investment Banking acted as financial advisor and lead arranger, while Suez Canal Bank acted as custodian, underwriter, and bookrunner. Baker Tilly served as the official auditor.

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