Enko Education Raises $24M to Expand Its Network of African International Schools

Johannesburg, January 22, 2025 – Enko Education, a group of African International Schools, announces the closure of a $24M equity investment from Africa Capitalworks (ACW) and returning investor Adiwale Fund I (Adiwale), to execute its large-scale acquisition strategy across the continent and triple its student body to reach 20,000 learners by 2029.

A Critical Milestone to Support Africa’s Education Ecosystem

While many young people across the continent aspire to pursue higher education, access remains a significant challenge, with only 9% of African students advancing to tertiary education compared to a global average of 40%.

Enko Education’s African International Schools bridge the gap by offering primary and secondary education that prepares learners for university admission. The group has pioneered its African International School of Choice model, delivering progressive education based on three core pillars: Africa, the World, and the Future. Since the launch of its first school in 2014 in Cameroon, Enko Education has built a network of 16 African International Schools, welcoming over 7,000 students across 10 countries in sub-Saharan Africa. This approach has yielded remarkable outcomes: Enko Education’s 1,700 graduates have gained admission to more than 500 prestigious universities worldwide, including Yale College in the United States, Sciences Po and École Polytechnique in France, the University of Toronto in Canada, the African Leadership University in Rwanda, and the Capital University of Economics and Business in China.

“We are thrilled to collaborate with ACW and continue our partnership with Adiwale to accelerate Enko Education’s growth. With this support, we aim to increase access to quality education for a growing number of learners in Africa and pave the way for their admission to the world’s top universities,“ says Cyrille Nkontchou, co-founder and non-executive Chairman of Enko Education.

20,000 Students Across Africa by 2029 Through an Ambitious Acquisition Strategy

Eric Pignot, co-founder and CEO, states: “With the investment from ACW and Adiwale, we will focus our strategy on acquisitions to expand our family of schools. Enko Education has become the ideal partner for school owners in Africa who wish to entrust their institutions to a group that respects their vision and legacy while providing the resources needed for growth and success.”

The group’s growth strategy relies on the acquisition of schools having the potential to become African International Schools of Choice. Enko Education has already demonstrated its ability to integrate a diverse range of schools while maintaining high academic standards, as evidenced by the recent integration of École Bilingue Avenir in Senegal and Cours Lumière in Togo. 

“ACW is committed to supporting Enko Education’s ambitious large-scale buy-and-build strategy. Our investment reflects our goal of backing high-growth, high-impact companies on the continent.” shared Grégoire Fredet, Partner at ACW. 

“Our support will help the company’s aim to consolidate the fragmented market of K12 schools on the continent, by developing the largest buildup of international schools in Africa. We are proud to contribute to this ambitious educational project, combining economic performance with social impact”, declared Jean-Marc Savi de Tové, Managing Partner at Adiwale.

With this new funding, the group is determined to continue its growth across the continent, consolidating its presence in existing markets and expanding into countries with strong potential.

About Enko Education

Founded in 2013 by Eric Pignot (France, MIT Sloan’13, CEO) and Cyrille Nkontchou (Cameroon, HBS’97, Chairman), Enko Education is a network of African International Schools increasing access to the world’s best universities for learners in Africa.

Enko Education launched its first school in September 2014 in Cameroon, which became the first IB-authorised school in Central Africa. Since then, Enko Education became the largest group of IB schools in Sub-Saharan Africa, 16 schools located in Cameroon, Côte d’Ivoire, Senegal, Mali, Burkina Faso, Togo, Zambia, Botswana, Mozambique and South Africa. More than 80% of Enko Education graduates enrolled in more than 500 universities across the world.

For more information, visit www.enkoeducation.com

About Africa Capitalworks

Africa Capitalworks is a permanent capital vehicle that focuses on mid-market companies in Sub-Saharan Africa, excluding South Africa. ACW combines patient capital with a strong partnership approach to foster growth and development. ACW is a member of the Capitalworks Group, a prominent independent alternative asset manager specialising in emerging markets. Capitalworks manages over USD 1 billion for a diverse range of investors, including high quality international institutional investors, commercial banks, insurance companies, pension funds, family offices and high net worth individuals.

For more information, visit www.capitalworksip.com

About Adiwale Partners 

Adiwale Partners is an independent private equity fund manager founded in 2016 and based in Abidjan, Côte d’Ivoire. It manages Adiwale Fund I, a EUR 60 million fund. Adiwale Fund I offers growth capital and operational support to mid-size companies looking to strengthen their core activities and expand in West Africa and beyond. The fund invests primarily in consumer goods and services, business services and manufacturing.

For more information, visit www.adiwale.com

Press Contacts:

• Oti Bosila, CEO’s Chief of Staff: [email protected]
• Fanny Moral, Head of Communications: [email protected]