Following the $2.2m investment put up by Proparco and I&P in August 2016, Enko Education has opened its first international school in South Africa – Enko Ferndale International School.
Enko Education is aiming to create a network of private African schools, providing first-class education for the emerging middle classes.
Its goal is to offer African students an affordable, internationally-recognized curriculum, the prestigious International Baccalaureate Diploma Programme (IBDP), which prepares pupils for the International Baccalaureate (IB) exam.
Enko Education charges schools fees which are on average a quarter of those charged by other IB schools in Africa.
Although Enko is targeting the growing African middle classes, it also aims to enroll 10%-20% of students from economically disadvantaged backgrounds in its schools through various scholarship programmes.
The investment put up by Proparco and I&P will help to finance the first years of operation of the existing schools as well as the launch of new schools in 2016 and 2017.
More generally, this funding will support the development of a quality private sector education offering for Africa’s middle classes, alongside the efforts being made by governments, assisted by AFD, Proparco’s parent company.
This initiative should eventually create over 1,300 jobs, half of which will be teaching positions for properly trained teachers.
Denis Sireyjol, Proparco South Africa’s Regional Director, said: “By supporting this initiative, we are seeking to increase access to quality education in Africa, and in South Africa in particular. This initiative speaks to the corner stone of Proparco’s strategy in South Africa and in Africa.”
“This investment is the first direct investment of Proparco in education in Sub-SaharanAfrica, top priority for Proparco. It is also the first direct investment of Proparco in venture capital, early-stage companies being now part of its new global strategy,” he added.
Enko Ferndale International School in Johannesburg will begin welcoming students from January 2017.
The new institution will start with grades 8, 9 and 10 and grow to include all learners from grades 8 to 12.
The programme will prepare grade 8 to 10 students to take the Cambridge International General Certificate of Secondary Education (IGCSE), and grade 11 and 12 students for the International Baccalaureate Diploma Programme (IBDP). Enko Ferndale International School will also offer the Enko Education university admission counselling programme, designed to help students navigate the application processes for admissions and scholarships to top universities around the world.