Tiba Group was founded in 1990 by Dr. Seddick Afifi and is one main private education players in Egypt. It has some 20,000 students, from primary to high school, and is made up schools (Thebes International Schools, TIS), two higher technical education centers (Integrated Thebes Academy, ITA) and a university. Abraaj Group acquired 75% of the capital in 2015, via its fund dedicated to North Africa.
Proparco’s direct investment in Tiba Group has been made alongside the ANAF II fund, which is now managed under the supervision of the provisional liquidator of Abraaj Group. In this context, Proparco and its co-investors are continuing their strategy to institutionalize Tiba Group and contribute to its growth in order to strengthen private education provision in Egypt.
This information is given at the time of signature, without prejudice to any developments in the operation/project