Enko Education Investments Funds Private Education In South Africa

Enko Education Investments (EEI) today announced the closing of its first South African investment,in Amazing Grace Private School.

Located in the city of Randburg, a Johannesburg neighbourhood, Amazing Grace Private School covers grades1 through12.The school delivers high quality education, based on rigor and discipline, at a price affordable to the middle class.“The learner population is very international: half of our learners are from across Sub-Saharan Africa; the diversity enhances the learning experience of every child ”says Sylvester Apaloo, principal and founder of the school.“

We believe that the school has tremendous potential, given its solid foundations and the unmet demand for high quality affordable education in the neighbourhood», adds Eric Pignot, co-Founder and Chief Operating Officer of EEI.”EEI’s investment will help the school improve learning conditions, increase capacity and strengthen its administrative and management processes”.“

Between 2008 and 2011, the number of learners in South-African private schools increased 30%,from 367,000to 480,000. Over the same period, enrolment in public schools decreased 1%”, highlights Cyrille Nkontchou, Founder and Chairman of EEI. “Private education is booming in South Africa, especially in urban areas. The private education opportunity is huge, as it currently represents only 4% of all learners, compared to an average of 15% in the whole of Sub-Saharan Africa”. South Africa spends 6.4% of its GDP on education, much more than the worldwide average of 4.7%. However, its education system does not compare favourably with education systems in similar developing economies :the World Economic Forum’s competitiveness index for 2012-2013 ranks South Africa’s overall education system at 140 out of 144 countries. Shortage of skilled teachers, teacher absenteeism, overcrowded classrooms, poor governance are well-publicized problems faced by the public schools. Private investments therefore has a critical role to play to complete public effort and offer a high quality education at an affordable price for the middle classes.

About Enko Education Investments
Enko Education Investments is a management and investment company focusing on education in Sub-Saharan Africa. EEI aims to democratize affordable, high quality education, by building one of the largest networks of private schools in the region. EEI’s business model is to invest in high-potential, existing private schools and help them achieve their full potential. The company presently operates in Cameroon and South Africa.

Contacts
Eric Pignot, Chief Operating Officer and co-Founder,eric@enkoeducation.com
Cyrille Nkontchou, Chairman and Founder, cyrille@enkoeducation.com

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