SOUTH AFRICA – Enko Education, a network of African international schools, has announced the closing of its US$5.8 million Series B round.
The project is led by Adiwale Partners and followed by the Steyn Capital family office as well as existing institutional investors Proparco, Investisseurs et Partenaires and Liquid Africa, and prominent figures in international education and entrepreneurship in Africa.
This Series B round, which closed on April 30, validates Enko Education’s innovative educational model.
Founder and CEO, Eric Pignot, said Enko Education has become the first network of schools offering the International Baccalaureate programme on the African continent.
“This new round of financing will allow us to accelerate our growth through acquisitions and by selling our know-how in managing schools,” added Founder and Chairman, Cyrille Nkontchou.
Since the opening of its first school in 2014 in Yaoundé, the group has developed a network of 13 African international schools that welcome more than 3 500 students in 9 sub-Saharan African countries.
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.
Managing Partner of Adiwale Partners, Jean-Marc Savi de Tové, 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,” de Tové said.
Enko Education aims to become the leader in international education in Africa. The group has developed 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,” Pignot said.
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.
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