The Clap
EFG Hermes’ (HRHO) educational arm “GEMS” captured a new investment in a huge university campus in Sheikh Zayed City.
The deets
The new campus was developed by “Hayah” company, which was acquired by Hermes’ educational arm, to include 1,700 students.
The educational platform, which includes 10 schools in Cairo and Alexandria, got into an agreement with The Sovereign Fund of Egypt and “Mobica” company, to manage and operate two new schools in the 6th October district with a capacity of 5,000 students in, which will be developed later.
The platform, which taps more investments either through acquisition or through developing new schools, plans to close two investments by the end of this year.
Moreover, EFG Hermes’ net income rose by 12% during 2021 to reach EGP 1.5 billion.
