Social Impact Capital Ltd. (SIC), already the majority stakeholder in Cairo for Investment and Real Estate Development (CIRA Education) with a 51.2% share, has announced that it is in the process to acquire an additional 37.5% stake through a successful mandatory takeover offer (MTO). CIRA, Egypt’s largest private-sector, fully integrated education service provider, is listed on the Egyptian Stock Exchange under CIRA.CA.
This acquisition is part of a strategic partnership with Afaq Al Elm Investments Company, a subsidiary of the Saudi Egyptian Investment Company (SEIC). Afaq Al Elm has agreed to subscribe to new SIC shares via a capital increase, with the proceeds earmarked to fund the MTO. SEIC, fully owned by the Saudi Public Investment Fund (PIF) and established in 2022, focuses on investments in promising Egyptian sectors.
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.”
Mohammed El Kalla, CEO of CIRA Education, said: “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. Together, we will continue to innovate, expand and deliver world-class education to students across the region.”
This investment positions CIRA to expand its impact, forming collaborations with local and international institutions to meet evolving educational needs and foster growth and innovation. The initiative underscores a shared commitment to empowering future generations and advancing the education sector across the region.