(Ecofin Agency) - Private Equity firm AfricInvest made a new investment in Morocco’s education sector. The investor has acquired jointly with the Tunisian businessman Tawhid Chtioui, 80% of the Moroccan Higher Institute of Applied Engineering (ISGA).
Shares were acquired from the Diouri family which was until now the majority shareholder of the ISGA group. The operation was announced by several local media in September but no details were given about the buyer. With this participation, AfricInvest commits to support the development plan of the private education group over the next five years.
Let’s note that other Moroccan private education groups, such as the International Institute for Higher Education (IHEM), have been sold in recent years. The education industry as a whole in the country, and North Africa, has also experienced a strong dynamic.