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Abraaj North Africa Fund II invests in Egypt’s Tiba Group

Image Credit: Nahda University

Making its second investment in Egypt’s education sector, leading private equity investor The Abraaj Group is backing Tiba Group, the owner of seven private educational institutions catering to 20,000 students. The deal is being done through Abraaj’s second generation North Africa fund, ANAF II, which held a final close at $375 million in late August this year. Additionally, Abraaj announced the establishment of Education Management Company, a new venture in partnership with Tiba that provides management support services to educational institutions in Egypt.

In 2014, Abraaj invested CIRA, the largest K-12 private schools group in Egypt operating under the Future Schools brand. Demand for private education in Egypt is expanding, driven by favorable demographics and a growing class of aspirational consumers eager to invest in high quality education for their children. At 87 million, the country has the largest population in the Middle East and North Africa, of whom 20 million were estimated to be enrolled as students in the last academic year.

Tiba was founded in 1990 with Thebes School, a K-12 institution, and has expanded since then into the higher education and university sectors. The Thebes Schools Group caters to children aged three to 18 years and consists of schools offering national education as well as American and British education curricula.  The Thebes Academy consists of three academies in Cairo and Giza, offering engineering, computer science, information technology, business management and financial markets courses to approximately 14,000 students with a focus on affordable high quality education. Nahda University was established in 2007 and is the first private university in Upper Egypt.

Terms of the deal were not disclosed.

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  1. Weekly Wrap, October 5th, 2015; Abraaj, Capitalworks, Harith and others make private capital news last week | Africa Capital Digest

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