The Lighthouse Education platform said that Rajhi Invest has joined the platform’s investor group, with a value of EGP 75 million.
The alliance will subscribe to the first education platform fence, worth over EGP 500 million.
Rajhi Invest has been one of the largest investment entities in the Kingdom of Saudi Arabia and the Arab world since its establishment in 1929.
President of the Hossam Kabbani lighthouse said: “The membership of one of the most important regional companies to the education platform proves the attractiveness of the Egyptian education sector due to its dynamic and promising opportunities. The platform focuses on providing distinguished educational services to the middle class, which is the most important segment of the population ”.
He added that the platform will focus in the coming period on starting its investment plans after the completion of the first close.
Mohamed EL Samman, CEO of Rajhi Invest said: “The company aims to invest mainly in Saudi Arabia, with a tendency to diversify its investments in some promising foreign markets such as the Egyptian market. The education sector is at the top of the company’s goals because of its growth and potential. The company’s strategy is based on investment through partnerships with distinct entities with experience in the field ”.
Khalil El-Bawab, CEO and Managing Director of Misr Capital, welcomed the completion of the first closure of the Lighthouse platform through the accession of Rajhi Investment.
He added that the presence of the Sovereign Fund of Egypt (TSFE), Bank Misr and Misr Insurance Holding Company as investors testifies to the attractiveness of the Egyptian education sector and its ability to develop. , especially in light of the Egyptian government’s support for the sector.
Mohamed El-Sharif, CEO of Ironwood Investments and Vice President of Lighthouse, said: “With Rajhi Invest on board, this gives us a boost to start the establishment process over the next few months. The management team prepared a map that identified investment objectives that are in line with the platform’s strategy to serve middle income groups ”.
It is worth mentioning that the Lighthouse Education platform was established in the middle of this year, with a target capital of EGP 1.75 billion.