Planning Minister meets private sector representatives to discuss the replication of Cosmic Village’s School Complex model
30 November 2023
H.E. Dr. Hala El-Said, Egypt’s Minister of Planning and Economic Development who is acting as Chairperson of The Sovereign Fund of Egypt (TSFE) met with representatives from the private sector to discuss the replication of the Cosmic Village’s School Complex model in partnership with TSFE.
The meeting witnessed the presence of Kamal Nasr, Assistant Minister for Technical Office Affairs, Dr. Mohamed Al-Maghrabi, Supervisor of the Human and Social Development Sector, and Ihab Rizk, Executive Director of the Egypt Sub-Fund for Education, Nutrition and Agriculture.
During the meeting, Dr. Hala El-Said asserted the success of the Cosmic Village’s School Complex experiment as a model of partnership between TSFE and the private sector to provide educational services that apply international standards and at a reasonable cost to middle-income families.
El-Said reviewed the investments directed to the Educational Buildings Authority, estimated at approximately EGP 11 billion.
El-Said also referred to the high density of classes in primary education, explaining that class density is highest in Giza and Alexandria, so work must be done on the densest governorates and centers, stressing that the issue of education is a top priority for the Egyptian state.
For his part, Ihab Rizk explained that TSFE focuses on providing a different educational model through participation with the private sector.
This is done by providing TSFE with unexploited lands or buildings, stressing that exploiting these unexploited assets creates an investment return for the state.
The private sector attendees presented their vision for re-implementing the Cosmic Village’s School Complex model in several Egyptian governorates, to provide the best educational services at a reasonable cost.
The meeting was attended by Dr. Hassan Al-Kalla, Chairman of the Board of Directors of Seera Educational Investments Company, Mr. Mohamed Al-Rashidi, CEO of Taaleem Management Services, Mr. Mohamed Khalifa, Director of the Egyptian Education Fund at EFG Hermes, Mr. Haitham Sabry, CEO of Elsewedy Capital Holding Group and Mr. Amr Al-Sajini, CEO of Tanweer Educational Services Company.