Enko Education closes its $5.8 million Series B funding to ensure its development on the African continent
Johannesburg, May 31, 2022 – Enko Education, a network of African international schools, announces the closing of its $5.8 million Series B round led by Adiwale Partners and followed by the Steyn Capital family office, existing institutional investors Proparco, Investisseurs et Partenaires and Liquid Africa, as well as prominent figures in international education and entrepreneurship in Africa. This Series B round, which closed on May 30, validates Enko Education’s innovative educational model.
Reach 10,000 students by 2025
By 2030, 750 million African youth will be of school age. To enable these young people to access the best universities, Enko Education schools offer a quality African international education. Individualized support for university admissions, the International Baccalaureate diploma and an African focus make the success of the Enko recipe. “Enko Education has become the first network of schools offering the International Baccalaureate programme on the African continent” explains Eric Pignot, Founder and CEO. Cyrille Nkontchou, Founder and Chairman, adds: “This new round of financing will allow us to accelerate our growth through acquisitions and by selling our know-how in managing schools“.
Since the opening of its first school in 2014 in Yaoundé, the Enko Education group has developed a network of 13 African international schools that welcome more than 3,500 students in 9 sub-Saharan African countries (Botswana, Burkina Faso, Ivory Coast, Cameroon, Mali, Mozambique, Senegal, South Africa, Zambia). The ambition of this new fundraising is to increase the number of students in the network to reach 10,000 students in 2025.
The group’s strategic plan is to increase the number of its schools through acquisitions and management contracts. This model allows school owners to entrust the management of their establishment to a group experienced in the operation of international schools on the continent. Jean-Marc Savi de Tové, Managing Partner of Adiwale Partners, said: “Enko Education offers thousands of young Africans who will shape the world of tomorrow the opportunity to better prepare themselves to access the best university education through quality primary and secondary education. Adiwale Fund I’s investment will allow the Group, as part of its expansion, to invest in its infrastructure, but also to strengthen its human resources and teacher training.”
The Enko Education operating model or the management of private African schools
Enko Education aims to become the leader in international education in Africa. The group has developed a strong expertise in the launch and operation of schools on the continent. “Today we are able to create, take over and manage schools offering national or international programmes, on behalf of investors as diverse as real-estate developers, NGOs, or individuals” explains Eric Pignot.
Enko Education schools share the same vision: to unlock learners’ potential across Africa by increasing access to the world’s best universities. The Enko Education model has already yielded brilliant results as the first graduates are currently studying in prestigious universities around the world, such as Yale College in the United States, Sciences Po or Ecole Polytechnique in France, the University of Toronto in Canada, the African Leadership University in Rwanda or the Capital University of Economics and Business in China.
About Enko Education
Enko Education is a fast-growing network of African international schools, increasing access to the world’s best universities for learners across Africa.
Enko Education leverages the programmes of the International Baccalaureate to offer students a holistic, learner-centered education. Furthermore, Enko schools are future-oriented and learners are supported in their higher education aspirations through our university guidance programme. With 13 schools across 9 African countries, Enko Education is the biggest IB network in Africa.
For more information, visit ww.enkoeducation.com
Press contacts:
Eric Pignot, CEO: eric@enkoeducation.com
Fanny Moral, Head of Marketing & Communications: fanny.moral@enkoeducation.com
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