The Clap
Private equity fund “AfricInvest” is close to acquiring 25% of the British University in Egypt for the equivalent of EGP 1 billion, according to sources speaking to Asharq.
What
The deal would be executed in US dollars, meaning that the 25% stake would increase if the EGP is devalued again.
So What
There’s a shortage of higher education options in Egypt, something the government acknowledges & is working to improve according to the Minister of Education.
Now What
The funds from the deal will reportedly go toward the university’s expansion plans.
