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ADVTECH LIMITED - ADvTECH acquires majority stake in University of Africa

Release Date: 30/01/2017 10:00
Code(s): ADH     PDF:  
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ADvTECH acquires majority stake in University of Africa

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH         ISIN: ZAE000031035
("ADvTECH” or “the Group”)

ADvTECH acquires majority stake in University of Africa

ADvTECH, Africa’s largest private education provider, is pleased to announce the acquisition of a
51% stake in the University of Africa (“UoA”). Following the International Finance Corporation’s
(“IFC”) investment in the Group in 2016 to support its expansion strategy, this acquisition represents
the Group’s first tertiary partnership outside of South Africa.

A private distance-learning university based in Zambia, UoA has a rapidly growing student base from
across the continent and an expanding portfolio of qualifications. The University has more than 2000
students and offers 22 Bachelors, eight Masters and a Doctoral degree. The staff complement of 145
academic and administrative support employees is expected to grow rapidly as operations expand.

Founded in 2006, the UoA has established a strong brand as a leading distance education provider
and has been acknowledged for its role in providing access to quality higher education in rural
communities where access would otherwise be constrained. Its students reside across Southern
Africa, including Zambia, Zimbabwe, Uganda, the DRC and Swaziland.

The transaction further consolidates ADvTECH’s leadership position in the burgeoning private
education sector in line with the Group’s continued growth and expansion strategy. With the
addition of UoA to the ADvTECH stable, its Tertiary division will now comprise of 10 brands across 26
sites in sub-Saharan Africa.

Peter Kriel, General Manager of The Independent Institute of Education (The IIE), which is
responsible for ensuring academic excellence at ADvTECH’s tertiary brands, has been appointed to
the UoA Council. The IIE will help benchmark the UoA’s degree and diploma programmes against
international best practice, thus assist to ensure academic excellence. It will also advise on future
appointments of qualified and experienced lecturers and academics, develop work-focused curricula
created in conjunction with industry experts, and assist with teaching and delivery methods that are
constantly innovated in line with global advancements.

ADvTECH is the holding company of The IIE, South Africa’s largest and most accredited private higher
education institution. The IIE’s brands include Vega School of Brand Leadership, Rosebank College,
Varsity College and The Design School of Southern Africa, and its qualifications and graduates are
highly sought after in the workplace.

The IIE, through its brands, offers more than 90 qualifications, from higher certificates to post-
graduate degrees.

30 January 2017
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

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