Tana Africa Capital exits Ethiopian school group
Tana Africa Capital has sold its stake in Flipper International School to ADvTECH Group.
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Private equity firm Tana Africa Capital has sold its stake in Flipper International School in Addis Ababa, Ethiopia, to South African private education company ADvTECH Group.
The school was founded in 1998 by Menna Selamu Bekele and Serkaddis Seifu Yeteshawork. The founders' commitment to developing the Ethiopian education sector, and enhancing the country’s internationally-focused education options, led to the creation of a globally competitive school in the Summit area of Addis Ababa.
The Saham Group and Tana Africa Capital made funding available to complete the Summit facility and bring about enhancements in technology, academics, governance and human resources. This helped boost the strong growth of Flipper International School over the last five years.
Commenting on the acquisition, ADvTECH CEO Geoff Whyte said: “We are delighted to welcome Flipper International Schools to the ADvTECH Group and remain committed to its founding ethos. Furthermore, the acquisition positions us well to grow our presence in the Ethiopian market, as well as expand our scale across the continent.”
Flipper International School’s five campuses are located in Beklobet in the centre and Summit in the east of Addis Ababa. The city is experiencing rapid urbanisation, leading to increased demand for high-quality education.
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