Arab Finance: Al Ahly Capital Holding, the investment arm of the National Bank of Egypt (NBE), has signed an agreement to acquire El Sewedy Education's 40% stake in Cairo Egypt for Educational Establishments, as per an emailed press release.
The acquisition covers 30 million shares, representing Elsewedy’s entire stake in the company. Egypt-based education provider Cairo for Investment and Real Estate Development (CIRA Education) will retain its 60% shareholding.
The Egyptian Competition Authority (ECA) has approved the transaction. Execution and share transfer procedures are underway in accordance with applicable regulations, with completion expected before the end of 2026.
Karim Saada, Managing Director and CEO of Al Ahly Capital Holding, signed the agreement alongside Ahmed Elsewedy, Chairman of Egypt-based investment firm Elsewedy Capital Holding, representing Elsewedy Education Services Holding Limited, and Mohamed El Kalla, CEO of CIRA Education.
The ceremony was attended by Mohamed El Etreby, CEO of NBE and Chairman of Al Ahly Capital Holding; Hassan El Kalla, Chairman of CIRA Education; and Soha El-Turky, Deputy CEO of NBE and Board Member of Al Ahly Capital Holding, together with senior executives and representatives of the participating parties.
A central project associated with the transaction is the Advanced Sci-Tech International Hub (ASTIH), planned on a 58-feddan site in New Damietta City. The development will bring together three independent universities, with 19 faculties offering 91 fields of study and capacity for approximately 30,000 students. Its first phase is scheduled to open in the 2027/2028 academic year.
ASTIH is designed to provide advanced education and applied learning in science, technology, engineering, mathematics, and emerging technologies, with programs aligned with international academic standards and labor market requirements.
"The acquisition also represents another step in strengthening our successful partnership with CIRA Education and building on what we have achieved together through Al Ahly CIRA for Educational Services. We look forward to combining our investment and financial expertise with CIRA's operational capabilities to support the development of Badr University in Damietta, maximize the project's investment value, and help expand access to high-quality university education beyond Greater Cairo," Saada said.
The agreement builds on the partners’ existing joint venture, Al Ahly CIRA for Educational Services. Through the additional investment, they aim to support its growth, strengthen its market presence, and develop further higher education projects while expanding Al Ahly Capital Holding’s portfolio and generating long-term investment value.
“The acquisition marks a new chapter in our successful strategic partnership with CIRA Education, allowing us to deepen and expand our collaboration while building on the achievements of Al Ahly CIRA for Educational Services,” El Etreby said.
Meanwhile, El-Turky said: "The agreement also builds on previous initiatives undertaken by Al Ahly CIRA to support the education sector, which plays a vital role in driving economic growth. I’m really thrilled for this type of coordination among all partners to effectively achieve the agreement’s objectives and deliver a tangible impact on Egypt’s education market, drawing on the combined expertise and talent of the participating organizations.”
For Elsewedy Capital, the sale follows a collaboration with CIRA Education that has delivered schools serving families in Greater Cairo and laid the foundations for the Damietta development.
Elsewedy expressed confidence that Al Ahly Capital Holding has the capabilities to advance the project into its next phase and help develop the technical talent needed by the Egyptian economy. He also welcomed opportunities to pursue further joint projects with CIRA Education.
Moreover, Hassan El Kalla thanked Elsewedy Capital for backing ASTIH from its inception, emphasizing the importance of giving students in Damietta and the wider Delta access to advanced science and technology education without having to leave their regions.
"Bringing three universities together on one campus will give students access to an extensive and diverse range of academic disciplines, representing an unprecedented addition to the region's educational landscape. I also welcome this new chapter in the longstanding strategic partnership between Al Ahly Capital and CIRA, which has grown considerably in just a few years. This latest investment is a strong vote of confidence in the future of our collaboration," El Kalla added.
For his part, Mohamed El Kalla remarked: "Our relationship with the El Sewedy family extends well beyond this transaction, and we look forward to renewing our collaboration through future projects. At the same time, we are pleased to further strengthen our alliance with Al Ahly Capital by expanding our partnership to include a second joint education investment platform. This will make our alliance the largest of its kind in Egypt's education sector. We will continue developing a diversified, high-quality portfolio of schools, universities, and educational facilities, establishing the partnership as a leading specialized education investment platform in Egypt."
Their broader plans include accelerating existing projects, exploring opportunities to establish new institutions, and introducing specialized programs that reflect international standards and changing labor market needs. The cooperation aims to combine CIRA Education’s educational and operating experience with Al Ahly Capital Holding’s investment capacity to support sustained sector growth and develop skills needed by the Egyptian economy.
Egypt-based advisory firm Grant Thornton Egypt provided financial advisory services and conducted financial due diligence for Al Ahly Capital Holding. KPMG handled tax advisory services and tax due diligence.
