From the trading floor

From the trading floor

Cairo for Investment and Real Estate Development (CIRA): Egypt's largest provider of educational services has acquired a 51 per cent stake in the nursery operator Innovette for Education.

CIRA, which operates 21 schools nationwide and owns Badr University in Cairo (BUC), plans to invest some LE50 million to expand Innovette's activities with plans to start 25 nurseries within five years. The first three will operate under the Steamulation Hub and KidzGround brands and will commence operations in different governorates in May this year, being dedicated to offering high-quality education, a nurturing environment, and innovative learning methods at affordable prices to higher and middle-income groups, according to a CIRA press release.

Innovette was founded in 2020 by Dina Abdel-Wahab, who has been active in investing and operating early childhood nurseries like The Baby Academy, Indimaj, and Camp-O-Mania. This is CIRA's first foray into the nursery and pre-school segment. 

Cleopatra Hospitals Group (CHG): The group expects 20 per cent growth in its revenues in the fourth quarter of the current fiscal year, bringing 2020 revenue growth to more than 10 per cent.

In a recent company webinar, group executives said that CHG had seen very strong performance in 2020 as patient