Finance

Adiwale Partners acquires minority stake in Enko Education

Tuesday, 31 May 2022 18:32
Adiwale Partners acquires minority stake in Enko Education

(Ecofin Agency) - The financing is Adiwale Partners’s second investment this year and its first ever in the education sector. Its investment will support Enko Education and prepare it to capitalize on the boom in private education in Africa.  

Abidjan-based private equity firm Adiwale Partners, announced, Monday (May 30) the acquisition of a minority stake in Enko Education, a network of African international schools. 

The US$5.8 million Series B financing was provided through Adiwale Fund I, Adiwale Partners' first €60 million investment fund focused on West African companies. It will allow Enko Education to accelerate its African expansion and increase the number of its learners to 10,000 by 2025.  

“We intend to make acquisitions and sign partnerships with schools that will be managed by Enko Education, making those schools more competitive and impactful than on a standalone basis,” indicated Cyrille Nkontchou and Eric Pignot, Enko Education’s co-founders. 

The series B financing is the second investment made by Adiwale Partners this year.  The first investment was made in West African drilling services provider IDC, through minority stake acquisition. 

With Enko Education, the private equity firm founded in 2016 by Jean-Marc Savi de Tové and Vissého Gnassounou is moving into a sector with great potential. Indeed, in Africa, private education is booming. By 2030, 750 million young Africans will be of school age and Enko Education wants to capitalize on it by investing in infrastructure and developing its human resources. Currently, the education group serves more than 3,500 students in nine African countries. 

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