Dubai: December 21, 2016
NBK Capital Partners has partnered with the founders of Kaumeya Language Schools (KLS or the Company) to support the school in the next phase of its growth. The Company will also be supported by financing from the European Bank for Reconstruction and Development (EBRD). KLS intends to expand its campus, upgrade its facilities and modernize its classrooms while enhancing students’ academic and personal experience.
The education sector is vital for Egypt’s future given that 32 percent of the population are under the age of 15. The city of Alexandria alone has one million students of which 20 percent are enrolled in private schools. A high quality education for all age groups and qualifications is essential for the Egyptian economy to grow, compete and create jobs. Education is key to foster the country’s talent and to create the conditions under which the country can benefit from its development.
Yaser Moustafa, Senior Managing Director of NBK Capital Partners, said: “NBKCP is committed to developing the education sector in the region and KLS marks the firm’s sixth education investment. KLS is founded on strong values and principles and has demonstrated its ability to deliver on its promise to parents and we look forward to taking the Company to the next level.”
Eiman Abdel Nasser, Head of Kaumeya Language Schools, said: “Partnering with NBK Capital Partners and receiving EBRD’s support is a major stepping stone for KLS, enabling us to advance the mission crafted by our family of empowering and equipping our students to become lifelong learners“.
Frederic Lucenet, EBRD Director for Manufacturing and Services, said: “We are pleased to support the education sector for the first time in Egypt in partnership with experienced partners. The school expansion will improve quality for more pupils within the educational programmes regulated by the Ministry of Education”.
Arqaam Capital and Alliance Law Firm acted as the financial advisor and legal advisor, respectively, for the founders of KLS. Matouk Bassiouny acted as the legal advisor for NBK Capital Partners.