Egypt’s sovereign sub-fund for education will launch an investment and management company in the education sector within days, according to Minister of Planning and Economic Development, Hala El-Said who spoke to Asharq Bloomberg.

This company will be launched in cooperation with the Ministry of Higher Education, a foreign university, and a private sector company.

El-Said Pointed out that this company will manage 3 government-owned buildings in Cairo, one of which is affiliated with a private university in downtown.

She explained that 42% of government investments this year will be directed to education and health sectors.

Additionally, the rate of government spending on education during 2024 increased by 55%, El-Said added.

Earlier in June, Egypt's Sovereign Fund has successfully acquired a notable stake of approximately 20% in Care Pharmacies for a sum of EGP 75 million in a collaborative effort with E-Z International. This transaction was facilitated through the Sovereign Fund's specialized healthcare subsidiary.

As part of this acquisition, the Sovereign Fund has taken ownership of 45 pharmacies, which constitute a significant portion of the total 220 branches operated by Care Pharmacies throughout Egypt.