South African private education group Advtech has raised its stake in Makini Schools.
The education group raised their stake in the company from 90 percent to 94 percent and introduced the Cambridge International Curriculum.
“Makini Schools in Kenya has returned to profitability following the significant losses incurred owing to Covid-19 disruptions in the previous year
“The Cambridge International Curriculum is now being offered in addition to the national curriculum, owing to strong demand,” said Advtech in the annual report.
The firm initially bought a 71 percent stake in Makini School in 2018 from its founder Mary Okelo for KSh 967 million.
Since then, Advtech has been increasing its stake in the school in the subsequent years. For instance, it raised its ownership in 2019 to 77 percent and 90 percent in 2020.
Advtech Group, a Johannesburg Stock Exchange (JSE)-listed firm operates within the education and recruitment industries in South Africa and the rest of Africa.
The firm is Africa’s largest private education provider and the holding company of the Independent Institute of Education which operates tertiary education brands.
Advtech’s other Kenyan institution is Crawford International School which uses the Cambridge curriculum.
Besides Kenya and South Africa, Advtech operates high-end schools and tertiary institutions in Uganda and Botswana among other countries in Africa.