LUMINUS EDUCATION

Our Story
June 2021
THE CHALLENGE
WHAT WE ARE UP AGAINST
Nearly one-third of the Jordanian population lives under the poverty line, with an
average GDP per capita of USD 4,130.

51% *
14%
Youth unemployment Female workforce participation

25% 63%
Unemployed University Grads Unskilled labor

23 1.4 million
Median Age Refugees

* Jordanian Dept. of Statistics - 2016

REGIONAL CHALLENGE
The MENA region has similar challenges.

48% If our youth population is unemployed

Unemployment rate for and unequipped for the future, what is
women in MENA
our outlook as a region?

31%
Youth unemployment in
MENA – highest in the world
DIGGING DEEPER
The conventional system of preparing youth needs to be challenged

• University graduates doubled in the period 2000-2010.

• Mismatch between the skills being taught in classrooms and the needs
of private sector employers!

o Graduates are often unprepared for the workplace

o Most universities don’t assist with job placement

Education for Employment: Realizing Arab Youth Potential. 2011. International Finance Corporation and the Islamic Development Bank Group.
 “Tackling youth unemployment
directly supports the primary pillars
of social protection, economic
growth and private sector
development.”
EMPLOYMENT CHALLENGES

Theoretical vs
Practical

Inadequate
Unspecialized
advice to
Programs
women

Links with
Soft Skills
Private Sector
LUMINUS EDUCATION
LUMINUS EDUCATION
Luminus is tackling these challenges head-on…and succeeding!

• High-quality, market-oriented degrees and qualifications that equip Arab

youth for the job market.

• For good – for profit.

• With a focus on competency based learning, Luminus is a champion of

the Education for Employment (E4E) initiative led by the World Bank.

• Focus: Low-middle income families, vulnerable Jordanians & refugees.

MARKET DRIVEN APPROACH
Purpose-designed schools mimic on-the-job spaces and situations.
• Job market demand approach – employment hub helps in the placement of
students into jobs, as well as in the creation of new programs.
• Target job placement rate 75%.
• Programs for self-employment: Shamal Start, SAE, Coding.
• Keys: 1) employer partnerships; 2) immersive experience, 3) life skills.
Examples of Schools & Dedicated Programs
Creative Media (SAE) School of Hospitality
School of Advanced Computing (Code Fellows) Quick Service School (M-Academy)
Hair & Beauty (Laval) Construction School
Automotive School (BOSCH) Dental & Healthcare
IMPACT FOOTPRINT

11,500+ Students 6,000 Students 80%

Expected FY2022 2+ year programs Job placement 2020

>50% >USD 80m 50

Disadvantaged Students Total Scholarships Accredited Programs

• Luminus has tripled its student population since 2014, enrolled in short courses,
national and international 2-year diplomas, and market driven bachelors programs.
• Over 50 programs across 12 areas of specialization, including Hospitality, Creative
Media, Business, Information Technology, Engineering, Automotive, Advanced
Computing, Applied Arts, and Medical Professions.
EMPLOYMENT PARTNERS
GENDER IMPACT

42% • Highest rate of female participation in TVET.

Women @ LTUC
• 6 years ago, female participation in
hospitality was only 5%.
73% • 73% of applied art students are women.
Applied Art
• 50% discount for women enrolling in
Automotive Technology school.
30% • Engaging with employers ultimately
Hospitality changes workplaces to cater to women.

Figures as of January 2021.

REFUGEE IMPACT

>2,000 • During the Syrian refugee crisis, Luminus

Refugee graduates sought to empower displaced Syrians.
• Lobbied government & donors to train
Syrians – economic opportunity for both the
>3,500 country and the refugees.
Refugee scholarships
• Luminus became part of the solution.
• Connected with UNHCR, UNESCO, USAID.
+20%
Of our students are • Continued lobbying to loosen restrictions on
refugees! allowable sectors for Syrians.
DONORS & SPONSORED STUDENTS
A blended finance model.
• Approximately 30% of LTUC revenues were from sponsored students
in 2020.

• Over USD 80 million in donor funding in the past 5 years:

• Refugees & low income families

• Partnership with government for vulnerable Jordanians.

• Currently performing scholarship contracts of over USD 25 million,

with another USD 20 million in the pipeline for the coming 1-3 years.

• Although this helps us with our enrollment prospects, we are always

targeting a healthy mix of sponsored and self funded students in order
to mitigate revenue concentrations.

• Student financing products developed by our team are a good bridge

for affordability.
DONORS & IMPACT PARTNERS
STUDENT GROWTH & IMPACT
More than doubled our students served between 2016-20.
Luminus Education 2016A 2017A 2018A 2019A 2020A 2021F 2022F 2023F 2024F 2025F 2026F 2027F
Number of Students Served 2,990 5,543 8,876 9,780 10,334 8,894 11,460 12,301 12,916 14,075 15,038 15,665
Graduated Students 1,375 2,517 1,897 4,232 5,392 3,608 5,741 6,819 6,696 7,103 7,688 8,108

Student Growth • Grew from serving c. 3,000 to c.

18,000 10,000 students in the period 2016-
16,000
14,000 2020.
12,000
10,000
8,000
• Campuses in Amman and Irbid, as
6,000 well as employer based centers.
4,000
2,000
-
• Students served are expected to
2016F 2017F 2018F 2019F 2020F 2021F 2022F 2023F 2024F 2025F 2026F 2027F growth from c. 10,000 in 2021 to c.
Number of Students Served Graduated Students
16,000 by 2027
STUDENT OUTLOOK
Students Outlook 2019A 2020A 2021F 2022F 2023F 2024F 2025F 2026F 2027F
Beginning Number of Students 2,903 3,128 3,393 4,779 4,922 4,608 5,283 5,923 6,206

Total Additions - Self Funded Students 1,691 3,011 2,456 2,308 2,857 3,334 3,522 3,555 3,596
Total Additions - Sponsored Students 4,900 2,394 3,043 4,361 4,430 4,856 5,124 5,382 5,655
Total Additions 6,591 5,405 5,499 6,669 7,287 8,190 8,646 8,937 9,251

Total Students Served 9,494 8,533 8,892 11,448 12,209 12,798 13,929 14,861 15,457

Detail of Students Additions

Degree Additions - Self Funded Students 1,614 2,987 2,452 2,305 2,854 3,331 3,519 3,552 3,593
Degree Additions - Sponsored Students 738 81 934 328 39 41 43 45 47
Total Degree Students Additions 2,352 3,068 3,386 2,633 2,893 3,372 3,562 3,597 3,640

Short Courses Additions - Self Funded Students 77 24 4 3 3 3 3 3 3

Short Courses Additions - Sponsored Students 4,162 2,313 2,109 4,033 4,391 4,815 5,081 5,337 5,608
Total New Short Courses Students 4,239 2,337 2,113 4,036 4,394 4,818 5,084 5,340 5,611

• 1,237 new self funded students enrolled in degree programs during Fall 2020/2021; and an additional 1,221
enrolled in the spring. This compares to 2,987 new students in degree programs during FY20.
• Strong donor contracts driving expectations of JOD 10.5 million of sponsored revenues in 2022. Sponsored
students expected at c. 4,361 for FY 2022, of which 328 in degree programs and 4,033 students in short
courses.
• We expect to grow the number of students served from 8,892 student in 2021 to 15,457 students by 2027.
MANAGEMENT TEAM
MANAGEMENT TEAM
IBRAHIM AL SAFADI – FOUNDER & CEO
Ibrahim is a trailblazing Jordanian entrepreneur who is passionate about helping young
people improve their lives. He started his entrepreneurial journey by taking over the
family business in 1999 as a Palestinian refugee from Gaza. His own experience as a
frustrated student by the educational system in the Arab world has shaped his journey in
promoting the Education‐for‐Employment (E4E) model.

Ibrahim’s vision has been driven by his “for‐good, for profit” philosophy that aims to elevate the potential of
the youth and improve their quality of life.

Over 20 years, Ibrahim succeeded in turning a small college of 150 students and 30 employees into the
largest private sector TVET provider in the region, employing more than 600 employees.

More importantly, Ibrahim’s efforts have directly affected the lives of around 100,000 learners. Ibrahim has
been featured as a success story for the IFC, Endeavor, and the World Economic Forum. He continues to
lead the organization into the future.
KEY EXECUTIVE STAFF
Dr. Ayman Maqableh – Dean LTUC Amanda Kelleher – International Ed
Dr. Ayman has a PhD in Mechanical Engineering from Amanda has over 24 years of academic and
the University of Nottingham, UK. He has extensive commercial experience in the MENA and SE Asia
experience in workforce development, technical and regions. She was the Middle East & North Africa
vocational education and public-private partnerships. Regional Manager for City & Guilds, where she
He is currently the Dean of Al-Quds College, successfully built the regional business. She has
managing more than 500 academic and also worked for Dubai University and Dubai
administrative employees. Aluminum.

Ahmad Jarrar – CFO Hamed Masri – Group CFO

Ahmad has been the CFO of Luminus since 2011. He
was the Chief Financial Officer for Kulacom and Over 15 years of experience in corporate finance
Senior Manager at Ernst & Young Consulting. advisory and investment banking. Managing Partner
Ahmad holds a Finance MBA from Cardiff Business at Sequence Advisory Labs, heading Growth Capital
School/University of Wales, UK and a BA in Business and Strategy. Experience with UBS and Dubai World.
Administration from the American University of Beirut. BSc of Economics from the Wharton School at the
University of Pennsylvania.

Aoife O'Loughlin – CPO Mohammad Khanfar – CTO

Over 20 years of experience across government, Over 12 years of experience in the Education sector
non-profit and private sector organizations. Having leading IT strategy, operations, and projects. Holds a
worked in Europe, Asia, Africa and the Middle East BSc in Computer Science and MSc in Engineering
she has developed a specialty in leading change Systems and Management from the American
management in organizations. More recently, Ms. University of Sharjah. He was previously the
Aoife was Director of Operations at the Abdulla Al Operations and IT Executive Director at Laureate
Ghurair Foundation for Education. Vocational Saudi Arabia..
KEY BOARD MEMBERS
Scott Featherston – Chairman Andre Wagner – SPE Capital
Andre Wagner is Managing Partner of
Scott Featherston has extensive experience in SPE Capital, a private equity firm
finance, education and emerging markets. From focused on the Middle East and Africa.
2005 to 2015, Scott worked at the International Wagner has led a number of investments
Finance Corporation, the private investment arm for SPE Capital with a particular focus on
of the World Bank, where he invested in consumers, industrials, education and
education and health businesses in emerging wellness. Andre holds an MBA from
markets in all regions. INSEAD and an MA from the Graduate
He is a partner at Caerus Capital and he sits on the Advisory Board of Institute, Geneva.
LINC Education. Scott has also been an adjunct professor in finance at
John Hopkins University’s School of Advanced International Studies in Amit Garga – Line Education
Washington DC. He currently resides in Australia and is Chief
Financial Officer at George Health.
Amit Garga has extensive experience in
the education industry working with senior
management teams of leading global
education providers and with the largest
PE and VC investors in education.

As partner and Managing Director at Parthenon-EY, the world's

largest management consulting firm for the education sector, Amit
has seen the industry evolve rapidly over the last ten years and is
keen to make a difference to how education is delivered and
received.