Old Mutual Alternative Investments backs education group
Old Mutual Alternative Investments (OMAI), one of Africa’s largest private alternative investment managers, through its Education Investment Impact Fund of South Africa (EduFund), has invested in Sifiso Learning Group (SLG), a private education company.
Founded in 2017 by Sizwe Nxasana and Dr Judy Dlamini, SLG provides a project-based education model which integrates new and innovative teaching and learning techniques into its curriculum. SLG’s network of independent schools aim to provide Africa-focused and technology-enabled education, preparing Africa’s youth for the digital future.
EduFund’s investment, which consists of a debt facility to a special purpose vehicle forming part of SLG, was utilised in the development of the second phase of the Future Nation Fleurhof School, situated in the Fleurhof suburb of Roodepoort. The school consists of a pre-school, primary school and high school, and currently has 790 learners, with capacity to accommodate up to 1,220 learners.
Kelly Joshua, head of education investments at OMAI commented, “SLG is an excellent first addition to our portfolio; it’s a progressive and emerging education provider with an outstanding reputation. The group has a strong focus on providing quality education that equips learners with the skills to thrive in an ever-changing environment. We are delighted to be supporting the founders in achieving their mission.”
Sizwe Nxasana, founder of Sifiso Learning Group and Future Nation Schools commented, “At Future Nation Schools, we believe that innovative, creative education has the potential to shape future generations of African leaders. The funding from OMAI has enabled us to continue to develop and strengthen our portfolio of schools, creating much-needed education opportunities for South Africa’s youth.”
Joshua added, “In establishing EduFund, our objective was twofold: to generate an attractive risk-adjusted return for our investors and to create a measurable positive impact in the education sector in South Africa. We are confident that we will continue to see strong growth in the education sector, driven by population growth, increasing demand from the emerging middle class, and a lack of capacity in existing schools and tertiary institutions.”
Edufund is OMAI’s second education-focused impact investing fund, investing across the education sector in South Africa, including schools in the affordable and middle-income market segments, tertiary education, and ancillary education services.
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