Breaking news

Multi-Million Euro Deal In Paphos: Old American Academy Transformed Into British-Owned Educational Institution

In a significant development for Cyprus’ educational landscape, the historic American Academy in Paphos has been sold and will be transformed into a British-owned educational institution. This multi-million euro deal marks a pivotal moment for the local education sector, promising to elevate the standards and reputation of Paphos as a hub for high-quality international education.

The American Academy, a landmark institution in Paphos, has long been revered for its commitment to academic excellence and community service. Its transformation under British ownership is set to introduce a new era of educational innovation and international collaboration. The acquisition by British interests underscores the growing appeal of Cyprus as a destination for international education investment, driven by its strategic location, favourable climate, and robust educational framework.

The new British educational institution will benefit from substantial investments aimed at upgrading and expanding the existing infrastructure. These enhancements will include state-of-the-art classrooms, modern science laboratories, advanced sports facilities, and comprehensive digital learning environments. The focus will be on creating a holistic educational experience that combines academic rigour with extracurricular development, ensuring that students are well-prepared for the challenges of the globalised world.

The institution will offer a diverse curriculum designed to meet international standards, providing students with opportunities to pursue the International Baccalaureate (IB), A-Levels, and other globally recognised qualifications. This curriculum will not only attract local students but also appeal to the expatriate community and international students seeking high-quality education in a supportive and multicultural environment.

One of the key aspects of this transformation is the emphasis on fostering strong ties between the educational institution and the local community. The British owners are committed to maintaining the legacy of the American Academy by continuing its tradition of community engagement and social responsibility. This includes partnerships with local businesses, cultural organisations, and government bodies to promote educational initiatives and community development projects.

The investment in the Paphos educational sector is expected to have a broader economic impact, generating employment opportunities for local educators, administrative staff, and support services. It will also attract families and professionals to the region, boosting the local economy and contributing to the socio-economic development of Paphos.

Furthermore, the presence of a high-calibre British educational institution in Paphos will enhance the city’s reputation as a centre for academic excellence and innovation. It will draw international attention, positioning Paphos as a competitive destination for educational tourism. This is particularly significant in the context of the global education market, where parents and students are increasingly seeking schools that offer a blend of rigorous academics, cultural exposure, and holistic development.

The transformation of the American Academy into a British-owned institution reflects the broader trends of globalisation and international collaboration in education. It signifies a commitment to providing students with a world-class education that equips them with the skills, knowledge, and values necessary to thrive in a rapidly changing world.

Bank of Cyprus And Wealthyhood Launch Digital Investing Platform For Cyprus

The Bank of Cyprus and Wealthyhood have launched a co-branded investment platform aimed at making investing more accessible in Cyprus, with the service available to all residents regardless of whether they are customers of the bank.

Marking the first major milestone in the strategic partnership between the two companies, the launch follows the Bank of Cyprus’ role as lead investor in Wealthyhood’s €6 million funding round earlier this year.

A Platform Designed To Expand Access

Combining Wealthyhood’s digital investment infrastructure with the Bank of Cyprus’ customer reach, the new Wealthyhood x BoC mobile app and web platform is designed to broaden access to investing across the island.

Although open to all residents of Cyprus, Bank of Cyprus customers will benefit from a simplified onboarding process. By linking their bank accounts, users can complete identity verification more quickly, transfer funds seamlessly and begin investing with fewer steps.

Additional features and customer benefits are expected as integration between the two companies continues to evolve.

Strengthening Digital Investing In Cyprus

For Wealthyhood, the partnership represents far more than a funding relationship. Co-founder and Chief Executive Alexandros Christodoulakis said the bank’s decision to partner with the company validates the technology it has spent years developing.

“Our partnership with the Bank of Cyprus is far more than a capital investment. It is enterprise-level validation of the infrastructure we have spent years building.”

Rather than investing significant time and resources in developing its own platform, the bank chose to partner with an established wealthtech provider, allowing it to bring a digital investment solution to market more quickly. Christodoulakis also emphasised that the platform is intended to promote disciplined, long-term investing rather than speculative trading.

“We are not here to launch another speculative day-trading gimmick. We are here to bridge the financial literacy gap for Millennials and Generation Z across Cyprus, giving them the tools, transparency and structure they need to take control of their financial future with confidence.”

Addressing A Gap In The Local Market

According to Christos M. Ioannou, Head of Private and Affluent Banking at the Bank of Cyprus, the partnership was created to address growing demand for a modern, accessible investment platform.

“Recognising a gap in the Cypriot market for a modern and accessible digital investment platform, the Bank of Cyprus entered into a strategic partnership with Wealthyhood to make investing more accessible to a wider audience.”

Available to everyone in Cyprus, the platform is intended not only for existing Bank of Cyprus customers but for anyone looking to begin investing. That approach, Ioannou said, reflects the bank’s broader commitment to improving financial literacy and encouraging wider investment participation across the country.

He added that the initiative is designed to help younger generations and first-time investors start building wealth in a simple, responsible and secure way.

Tools For Every Type Of Investor

Among the platform’s features are a financial literacy hub with more than 50 educational guides, a financial glossary, daily market updates and analyst insights tailored to local users.

Investors will also gain access to international markets, including fractional share investing from as little as €1, while trades will be available with zero commission fees.

To accommodate different investment styles, the app combines self-directed investing with an AI-powered portfolio builder and robo-advisory tools. Autopilot enables users to automate recurring investments and portfolio rebalancing, while an AI Co-Pilot, currently under development, will allow users to ask questions about markets and portfolios, manage accounts and execute investment orders through a conversational interface.

Investment Risk Still Applies

As with any investment product, the companies reminded users that investments can rise or fall in value.

Investment services are provided exclusively by Wealthyhood Europe AEPEY. The Bank of Cyprus does not provide investment services or investment advice and is not responsible for the services offered through the platform.

eCredo
Uol
The Future Forbes Realty Global Properties
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter