Saturday, April 20, 2019 UTC

AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
  • Subscribe Download
News > Private Equity > Deals

Investec makes foray into SA education sector

Anna Lyudvig
Oct. 18, 2018, 9:46 p.m.
999

Word count: 368

Investec Asset Management, through its African Private Equity capability, has acquired a controlling stake in Richfield Holdings, one of the leading private sector tertiary education providers in South Africa.   Founded 28 years ago, Richfield has more than 20 000 students enrolled across more than 40 campuses in South Africa, and a fast-growing distant learning offering to students from across Southern Africa. 

Receive ONE magazine and TWO locked articles of your choice for FREE when you register an account
Share:

Investec Asset Management, through its African Private Equity capability, has acquired a controlling stake in Richfield Holdings, one of the leading private sector tertiary education providers in South Africa.
 
Founded 28 years ago, Richfield has more than 20 000 students enrolled across more than 40 campuses in South Africa, and a fast-growing distant learning offering to students from across Southern Africa. 

It offers courses through a number of specialist education brands, including Richfield Graduate Institute of Technology (RGIT) and the recently acquired AAA School of Advertising.
 
The business offers a wide range of accredited Higher Education degrees, diplomas and certificates as well as technical and vocational training (TVET) courses focused on matching the skills needs of industry with education, to promote employability. 

RGIT is positioned as the most affordable provider of quality tertiary education in the market, enabling increased access to students, and Richfield’s pioneering use of technology integration into blended learning has been a critical part of its ability to deliver this.
 
Investec Asset Management is partnering with an experienced management team led by CEO Jay Ramnundlall to expand Richfield’s course offerings, open new sites, grow the blended model of distance learning and expand into the rest of Africa.
 
Nick Marsh, Investment Principal at Investec Asset Management, said: “We view the access to affordable vocational and higher education as a critical driver of development for the continent.” 

“Jay and his team have built a business with deep academic strength and a brand which is well respected by students, parents and employers. We believe the business is well positioned to capitalise on the growing demand for quality education that delivers the skills needed by employers.”
 
Since inception, Richfield has educated over 250,000 students and won numerous national and international awards, including the South African National Business of the Year Award last year.

Jay Ramnundlall, CEO of Richfield, said: “The need for high-quality affordable tertiary education in South Africa and beyond represents a huge opportunity for Richfield to expand its footprint and course offerings. I believe our partnership with Investec Asset Management will enable us to further expand to provide many more students with the opportunity for a quality tertiary education.”

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration