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Johannesburg - ADvTECH [JSE:ADH] has acquired a majority stake in University of Africa.
ADvTECH, said in a statement it is Africa's largest private education provider and is pleased about the acquisition of a 51% stake in the University of Africa ("UoA").
Following the International Finance Corporation's (IFC) investment in the group in 2016 to support its expansion strategy, this acquisition represents the group's first tertiary partnership outside of South Africa.
A private distance-learning university based in Zambia, UoA has a rapidly growing student base from across the continent and an expanding portfolio of qualifications. The university has more than 2000 students and offers 22 Bachelors, eight Masters and a Doctoral degree. The staff complement of 145 academic and administrative support employees are expected to grow rapidly as operations expand.
Founded in 2006, UoA students reside across Southern Africa, including Zambia, Zimbabwe, Uganda, the DRC and Swaziland. The transaction further consolidates ADvTECH's leadership position in the burgeoning private education sector in line with the group's continued growth and expansion strategy.
With the addition of UoA to the ADvTECH stable, its tertiary division will now comprise of ten brands across 26 sites in sub-Saharan Africa.
Peter Kriel, general manager of The Independent Institute of Education (The IIE), which is responsible for ensuring academic excellence at ADvTECH's tertiary brands, has been appointed to the UoA Council. The IIE will help benchmark the UoA's degree and diploma programmes against international best practice, thus assisting to ensure academic excellence.
ADvTECH is the holding company of The IIE. The IIE's brands include Vega School of Brand Leadership, Rosebank College, Varsity College and The Design School of Southern Africa. The IIE, through its brands, offers more than 90 qualifications, from higher certificates to post- graduate degrees.
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