Egypt – The British University in Egypt (BUE), Egypt’s leading private British university, has announced a strategic partnership with AfricInvest, a pan-African private equity firm, to invest around $40m in the university’s expansion and transformation plan.
The investment, which is subject to regulatory approvals, will be one of the largest foreign direct investments in education in Egypt to date. The Khamis family, the founders of the university, will remain the majority shareholders after the investment.
The BUE President and Vice-Chancellor, Professor Mohamed Loutfi, said that the university is committed to providing a student-centred education and that it looks forward to working with AfricInvest to seek new synergies and leverage the investment to further develop and improve its infrastructure and learning experience.
The Chair of the Board of Trustees, Farida Khamis, said that the capital injection, along with the ongoing support from the Egyptian government, will allow the university to continue the legacy of its late founder, Mohamed Farid Khamis, by enhancing its capabilities and academic reach and ensuring its leading role among educational institutions in Egypt, the Middle East and Africa.
The BUE was founded in 2004 and offers a wide range of dual degree undergraduate and postgraduate degrees in partnership with its academic partners: Manchester Metropolitan University, London South Bank University and Queen Margaret University. The degrees are based on the British model of higher education.
The capital increase will enable the university to strengthen its position in the higher education sector in Egypt and regionally, by expanding the capacity of existing faculties, establishing new ones, diversifying its curriculum, broadening its educational offering and implementing enhanced governance tools. The university also aims to explore new opportunities outside its home market by working closely with AfricInvest to identify potential synergies and partnerships in Africa and the region.
Zilla Capital acted as the sole financial advisor for the BUE on this transaction.