AFRICA – SDG Investment Fund, A Danish fund managed by IFU, in cooperation with Finnfund from Finland and Proparco from France, have invested US$22.23m in Africa Education Holding (AEH), which offers affordable high-quality programmes in labour market relevant studies of medicine, business, IT, law and social sciences.
With this investment, the company will increase its portfolio of universities in East and West Africa, improve volume as well as quality thereby complementing public universities that can only admit around one third of all applicants.
Moreover, the number of educations has been reduced and made more labour market relevant through public accreditation and by endorsement from e.g the domestic law and medical associations.
The number of students has increased, and the two universities have doubled and quadrupled scholarships to a total of 250.
The aim of AEH is to acquire new universities, build additional accommodation capacity and renovate several campuses and offer academic programmes adapted to the needs of the target countries.
This investment is expected to enable AEH to train nearly 43,000 students over the next five years and to support more than 2,000 direct and indirect jobs.
Peter Kagunye, CEO of Africa Education Holding, said: “The new capital from the European development finance institutions will enable us to continue enhancing the quality of academic programs and student services at our existing universities and to acquire additional universities in Africa.”
“Moreover, we are committed to increasing access to high quality education by offering scholarships and reaching students in underserved countries,” he said.