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Free school billionaire Peje Emilsson has reported that not a single tax kroner has gone into his school investments in the Middle East.
But Aftonbladet’s review shows that Kunskapsskolan invested Swedish students’ school money in the Saudi school – and may also owe the arms manufacturer Saab 75 million kroner.
– Regarding the loans, it is precisely loans that must be paid back to Saab, says Mattias Rådström, press manager at Saab.
Saab and Kunskapsskolan entered into a secret agreement on major school investments in the Middle East. Aftonbladet has been able to show how the schools would function as pawns in arms deals with dictatorships such as Saudi Arabia and the United Arab Emirates.
But today there is uncertainty about the millions that disappeared into their joint company Kedtech Holding. The company is behind the gender-segregated school Nün Academy in Saudi Arabia and has been losing money every year, minus 18 million in 2022. Thanks to the owners pumping in generous loans of a total of 75 million, Kedtech has still not collapsed. According to Kunskapsskolan, the money has gone to develop digital tools and teaching materials for the Saudi school, as well as to buy shares in a Saudi company.
Saab wants to get the money back
But according to Peje Emilsson, owner of Kunskapsskolan, it is the company Saab that lent the entire amount. He himself should not have laid a penny.
– No Swedish school money goes into this, he recently told Aftonbladet.
Kunskapsskolan’s CEO, Cecilia Carnefeldt, believes that the loan of 75 million from Saab can be converted into a “shareholder contribution” in the future. If the subsidiary Kedtech cannot pay back, Kunskapsskolan does not need to contribute money to settle the loan, according to her.
But Saab firmly claims that they will get the 75 million back.
– As far as the loans to Kedtech are concerned, it is precisely loans that must be repaid to Saab, according to Saab’s press manager Mattias Rådström.
Confidentiality Agreement
Regarding the agreement between them, he says:
– The shareholder agreement between Saab and Kunskapsskolan is confidential and therefore nothing we comment on in the media.
Aftonbladet’s review shows that the companies’ cooperation in the Middle East started in 2014.
But even before that, Kunskapsskolan Education AB sent five million kroner to Kedtech. It took place in the form of the transfer of an educational project that was adapted to “Saudi conditions” and entirely financed by the School of Science, and thus with Swedish school money.
Within the framework of the project, business contacts were also developed with partners in Saudi Arabia, documents we have seen show.
The knowledge school’s income largely consists only of tax funds, various municipal and state grants. This means that Peje Emilsson’s words that no school money or tax funds went into the Middle East investments are not true.
Aftonbladet has repeatedly contacted Peje Emilsson with questions about the investments, but has not received an answer.