National Bank of Egypt Joins Egyptian Education Alliance to Support Development of More Than 100 Schools Nationwide
The National Bank of Egypt (NBE), CIRA Education, and ten additional corporate and institutional partners have signed a shareholders’ agreement governing the newly established Egyptian Education Alliance, a strategic initiative aimed at expanding access to high-quality education across Egypt through the development of more than 100 new schools in 100 districts nationwide.
The agreement reflects a shared vision to support Egypt’s educational development agenda by creating modern schools equipped with advanced learning systems and curricula designed to meet the evolving demands of the future labor market. The initiative also underscores the growing role of collaboration between the banking sector and private investors in supporting sustainable development and investing in human capital.
The signing ceremony was attended by Dr. Hussein Eissa, Deputy Prime Minister for Economic Affairs; Dr. Ahmed Rostom, Minister of Planning, Economic Development and International Cooperation; Dr. Akram Hassan, Assistant Minister of Education for Presidential Initiatives; and Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI).
Under the agreement, NBE will participate in a capital increase of EGP 250 million, raising the company’s issued capital to EGP 1.25 billion from EGP 1 billion. The investment will grant the bank a 20% equity stake in the Egyptian Education Alliance.
The partnership combines NBE’s financial strength, institutional capabilities, and investment expertise with the operational and educational experience of CIRA Education, one of Egypt’s leading education providers serving more than 70,000 students. Together, the partners aim to establish a scalable and sustainable educational model capable of delivering quality learning opportunities to future generations.
Mohamed El-Etreby, Chief Executive Officer of the National Bank of Egypt, described education as one of the most strategic investments for building a sustainable future, emphasizing that the bank’s participation stems from its strong belief that human development is the foundation of comprehensive economic and social progress.
“Eliminating educational gaps and expanding access to quality learning opportunities are essential components of Egypt’s long-term development strategy,” El-Etreby said. “This investment reflects our commitment to directing capital toward sectors that generate tangible developmental impact, with education standing among the most promising and influential sectors in the country.”
He added that the partnership would contribute to delivering a distinguished educational model capable of meeting the needs of Egyptian families while supporting the government’s efforts to expand educational services and enhance their quality in line with Egypt’s Sustainable Development Vision.
For her part, Soha El-Turky, Deputy CEO of the National Bank of Egypt, said the agreement aligns with the bank’s strategy of investing in high-value sectors that generate sustainable social and economic returns. She noted that extensive studies conducted by the bank identified education as one of Egypt’s most promising investment sectors, driven by population growth and increasing demand for educational capacity.
“The Egyptian Education Alliance represents a powerful investment platform that combines financial strength with operational expertise,” El-Turky said. “This creates a solid foundation for sustainable growth, long-term returns, and measurable developmental impact across Egypt’s governorates.”
Meanwhile, Dr. Hassan El-Qalla, Founder and Chairman of the Egyptian Education Alliance, welcomed NBE’s entry as a strategic shareholder, describing the move as a significant milestone in the expansion journey of CIRA Education.
“The combination of CIRA’s accumulated educational expertise and NBE’s institutional and investment capabilities will create a successful model for scaling high-quality national education across Egypt,” El-Qalla said.
The Egyptian Education Alliance aims to play a pivotal role in addressing growing demand for quality education while supporting Egypt’s broader efforts to develop human capital, enhance educational accessibility, and prepare future generations with the skills needed for a rapidly evolving economy.