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Social Impact Capital Acquires Additional 37.5% in CIRA Education

Social Impact Capital Acquires Additional 37.5% in CIRA Education
Image Source: Cira Education
  • SIC is in the process of acquiring a 37.5% stake in CIRA Education via a successful mandatory takedown offer.
  • This is through an agreement with Afaq El Elm which allowed them to finance the mandatory takedown offer.
  • With the investment,CIRA aims to head initiatives that empower students and educators across all learning stages.

Social Impact Capital

Social Impact Capital Ltd (SIC) is in the process of acquiring 37.5% stake in CIRA via a successful mandatory takedown offer (MTO). They are already the majority shareholder of 51.2% in Cairo for Investment and Real Estate Development (CIRA Education).  

This is following an agreement with Alfaq Al Elm Investment Company (Afaq Al Elm) which is a subsidiary of the Saudi Egyptian Investment Company (SEIC).  Afaq Al Elm agreed to acquire new shares in SIC in order for SIC to finance the MTO. Furthermore, this investment shows SEIC’s trust in SIC’s vision which enhances CIRA’s growth potential in the region.

Muteb Al Shathri, acting CEO of SEIC, said: “We are delighted to mark this milestone cooperation with SIC and together contribute to the growth of CIRA. This transaction is part of SEIC’s strategy to contribute to the promising sectors which are important for economic development. The strategic partnerships that SEIC is establishing with leading Egyptian companies are fundamental elements of success.”

CIRA Education

CIRA Education is the largest fully integrated education service provider in the Egyptian private sector. Their vision is to improve educational activities in Egypt and they also manage 30 schools across learning stages and varying curricula. Whilst , SEIC is a fully owned PIF subsidiary launched in 2022 to invest in promising sectors throughout Egypt. Additionally, SEIC aims to invest strategically in promising sectors in the Egyptian market in order to drive sustainable economic growth.

With the investment, CIRA aims to expand access to world-class learning. Additionally, they aim to head transformative initiatives that empower students and educators across all learning stages including higher education. The collaboration enables CIRA to pioneer partnerships with local and global institutions. Thus, they aim to address the region’s education needs and drive growth and innovation.

“This transaction represents a bold leap toward realizing our ambition of reshaping education across the region, marking a pivotal milestone in CIRA’s journey. With the partnership of SIC and SEIC, we are poised to take our vision to the next level — supporting its aspiration to become a regional leader. This partnership reflects our shared goal to contribute to the future of education and empower the next generation.”

Mohammed El Kalla, CEO of CIRA Education

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