{"id":709449,"date":"2026-06-11T00:00:00","date_gmt":"2026-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=709449"},"modified":"2026-06-11T12:23:50","modified_gmt":"2026-06-11T12:23:50","slug":"nbe-invests-egp-250-mn-in-new-education-platform-targeting-100-schools-in-27-governorates","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/11\/nbe-invests-egp-250-mn-in-new-education-platform-targeting-100-schools-in-27-governorates\/","title":{"rendered":"NBE invests EGP 250 mn in new education platform targeting 100 schools in 27 governorates"},"content":{"rendered":"

Good afternoon, friends, and kudos to you for making it to the weekend. <\/strong>It\u2019s been a busy week both at home and beyond, and we\u2019ve got the latest for you below. To send you off into the weekend, we\u2019ve got a somewhat light \u2014 albeit lengthy \u2014 issue this afternoon, with Apple under the spotlight. We break down the latest announcements from the 2026 Worldwide Developers Conference and check out Apple TV\u2019s latest thriller brought to life by Martin Scorsese and Steven Spielberg.<\/p>\n

First up, the news\u2026<\/strong><\/p>\n

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THE BIG STORY TODAY-<\/p>\n

\ud83d\udccd NBE puts EGP 250 mn into a new <\/strong>education platform targeting 100 schools across Egypt\u2019s governorates: <\/strong>The National Bank of Egypt (NBE) acquired a 20% stake in the Egyptian Alliance for Education<\/a> \u2014 an initiative bringing together CIRA Education, NBE, and 10 other companies \u2014 raising the platform\u2019s total capital to EGP 1.25 bn, according to a press release<\/a>. The alliance, founded by CIRA Chairman Hassan El Kalla, seeks to establish more than 100 new schools across the 27 governorates, \u201cbringing quality education at a grassroots level with affordable fees,\u201d CIRA CEO Mohamed El Kalla tells EnterpriseAM. The first four schools are slated to open this year in Qena, Kafr El Zayyat, and Alexandria, El Kalla adds.<\/p>\n

ALSO- Korra Energi makes its EGX debut:<\/strong> Shares of Korra Energi closed up 19.5% at EGP 3.55 on its first day of trading today, according to market data. Some 269.7 mn shares changed hands, generating EGP 977.9 mn in turnover. The energy solutions firm floated an 11% stake<\/a> valued at EGP 735 mn in what marked the EGX\u2019s second IPO of the year \u2014 following Gourmet\u2019s blockbuster February debut \u2014 and the first since the Iran war broke out.<\/p>\n

Active contracts currently stand at EGP 15 bn, with a pipeline exceeding EGP 40 bn<\/strong>, Ayman Korra, the company's founder and CEO, told EnterpriseAM at this morning's bell-ringing ceremony. \u201cThere is strong momentum on the EGX and high demand for serious companies,\u201d he said, adding that his decision to float only 11% of the company was a deliberate signal. \u201cMy confidence in the company is why I chose not to offer 30% or 40%; I prefer to retain a large portion.\u201d<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

\ud83c\udf10 Regional tensions remain the dominant force across the digital front pages this <\/strong>afternoon as the US and Iran continue exchanging fire. <\/strong>After the US launched a fresh wave of attacks on Iran last night, resulting in retaliatory strikes by Tehran on US bases in the region \u2014 in Bahrain, Kuwait, and Jordan \u2014 Iran\u2019s new Strait Authority announced that the Strait of Hormuz \u201cwill be closed until further notice,\u201d citing the US attacks. The announcement came shortly after an Iranian official accused the US of attacking a cargo ship in the Gulf of Oman earlier today.<\/p>\n

Progress is reportedly being made on an agreement, according to Iranian sources with knowledge of the matter cited by Reuters.<\/strong> Meanwhile, three Indian sailors who were reported missing earlier this week were confirmed dead following an attack on an oil tanker earlier this week, India\u2019s shipping minister Sarbanada Sonowal wrote on X.<\/p>\n

^^ Read more on: CNN<\/a>, BBC<\/a>, The Guardian<\/a>, Reuters<\/a>, and Financial Times<\/a>.<\/p>\n

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** <\/strong>CATCH UP QUI<\/strong>CK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n