Egyptian private equity firm CedarBridge has backed portfolio company Tamkeen’s €100m investment to train and employ one million workers in the region in collaboration with the Government of Egypt’s Industrial Training Council.
The parties running the project will appoint industrial and services training companies from around the world to train and accredit young people enrolled in the programme to meet the demand in Egypt and other countries in the Arab world.
Agreements were signed between CedarBridge and international education companies, including Pearson, Festo, TUV Nord Egypt and Plato.
Imad Ghandour, managing director of CedarBridge said “This is a project is a milestone, where government, investors, educational institutes, and employers all work together towards creating more jobs for Egyptian youth.
“We would like to thank the Government of Egypt and the Minister of Industry for supporting us in achieving our objectives.
“We are also proud of our international partners who represent flagship names and have a successful track record in vocational training and who will bring in their experiences to fulfill the ambition of these young men and women.”
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