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Casablanca - TPG/Satya, the partnership between TPG Growth and Satya Capital, focused on investment in Africa, announced on Thursday a definitive agreement to invest in Ecoles Yassamine, the largest private school network in Morocco.
The minority investment will provide growth capital and allow Ecoles Yassamine to expand and improve the quality of the education they provide, and to export their know-how to other African countries. The investment in Ecoles Yassamine marks the first African investment from the recently-formed partnership of TPG Growth and Satya. Terms of the transaction were not disclosed.
“Morocco is one of the faster-growing economies in Africa, and with that comes a demand for increased access to quality education. By investing in Ecoles Yassamine, we have found a partner that is uniquely positioned to meet that growing demand,” said Tsega Gebreyes, managing partner of TPG/Satya.
“Our investment in Ecoles Yassamine represents the first step in capitalising on the immense growth opportunity for companies across Africa,” said Bill McGlashan, founder and managing partner of TPG Growth.
“Working with Satya, we are focused on finding opportunities to help grow exciting companies like Ecoles Yassamine that are in a unique position to benefit from the macro/micro and long-term approach of our partnership.”
According to Mo Ibrahim, founding chair of Satya, access to quality education is undoubtedly what has pushed some of the most powerful economies forward.
"I’m very enthusiastic about what Ecoles Yassamine’s expansion means for Morocco, as well as the larger effect it can have on the expansion of education throughout all of Africa,” said Ibrahim.
