ADVTECH LIMITED - ADvTECH Acquires Top Kenya School Group, Further Grows East Africa Offering

Release Date: 03/04/2018 11:28
Code(s): ADH
 
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ADvTECH Acquires Top Kenya School Group, Further Grows East Africa Offering

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

ADvTECH ACQUIRES TOP KENYA SCHOOL GROUP, FURTHER GROWS EAST AFRICA
OFFERING

ADvTECH continues to grow its position as the leading provider of quality private education in Africa, with
the announcement of its further expansion into Kenya and Uganda. The acquisition adds 9 schools, 5
campuses, boarding facilities and approximately 4100 students to its portfolio.

ADvTECH’s expansion follows the acquisition by the group of Scholé Ltd, which has managed various
schools throughout Sub-Saharan Africa since 2012. Structures are in place to expand into the rest of
Africa and to further explore opportunities with various schools in the region. The acquisition will strive to
acquire schools across the continent and build a network of institutions known for their academic
excellence in the mid-fee segment.

In Kenya, ADvTECH is acquiring, subject to the fulfilment of conditions, the prestigious Makini group of
schools, founded in 1978 by the highly acclaimed Dr Mary Okelo. Makini is well-known for unparalleled
academic excellence in the region, has 8 schools on 4 campuses in Nairobi and Kisumu and caters to
3200 students from Kindergarten to Grade 12.

In Uganda, the partners will continue to manage Kisubi High School, a co-ed mid-fee boarding school in
Kampala, which provides a child-centred learning experience for its more than 900 students. Scholé has
managed the school since 2015.

Douglas says it was important to identify partners who know and understand the local markets, with
extensive experience in operating schools throughout East Africa.

“We have been diligent in our investigations to ensure we find the right business partners who can help
us sustainably grow our mid-fee offering, to increase access to affordable education in the rest of Africa
without compromising on quality or academic excellence,” he says.

“As a result, we are confident that we have assembled the best team possible, with an unparalleled track
record in the management of schools, improvement strategies and expansions throughout Africa.”

Johannesburg
3 April 2018
Sponsor: Bridge Capital Advisors Proprietary Limited

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