Dubai: Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, has announced US$ 20 million direct investment into Africa Crest Education Holdings [ACE] – an investment company promoting quality education across the African continent.
The investment will fund development of SABIS® operated schools in Africa, with an initial target pipeline of projects in Kenya, Egypt, South Africa, Uganda and Morocco. Dubai Investments subsidiary Al Mal Capital advised DIC on its investment in ACE. Al Mal Capital will also continue to manage the investment in ACE on DIC’s behalf. Investbridge Capital arranged and advised on behalf of Africa Crest Education.
Dubai Investments will join founding investors: Investbridge Capital (IBC), an independent alternative asset management and advisory firm based in Dubai International Financial Centre; Centum – a leading East Africa’s Investment Company listed on Nairobi and Uganda Securities Exchanges; and SABIS®, a 130+ years’ global school operator educating over 70,000 students across five continents in the project.
The initial project in Kenya, The SABIS® International School – Runda, is currently under construction and now accepting applications for its opening in September 2018. The school will be located on a state-of-the-art campus of 80,000 m² within Runda neighborhood in Nairobi providing outstanding, non-selective, co-educational English-medium education serving local & international communities.
Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “Dubai Investments is pleased to partner with ACE and SABIS on this project. This is part of the Company’s continued efforts to boost its investments in the education sector and making a foray into the African continent. SABIS has a long-standing history of offering quality schooling and is a respected name in global education landscape and this partnership will go a long way in opening school doors to millions across Africa.”
Mark DeSario, Co-Founder and Chief Executive Officer of Investbridge Capital and Board member of ACE, says: “Having Dubai Investments join the Founding Shareholders is a welcomed event and one we believe adds great value to ACE. Dubai Investments is the largest listed diversified investment company listed on the Dubai Financial Market with a market cap of c. US$ 3 billion. Their investment in ACE confirms that strong and robust business execution strategies in the education sector, based on the fundamentals, matched with deeply experienced partners and a well-structured project pipeline will attract the very best institutional investor base.”
Johnny Harb, the CEO of ACE, said: “Africa Crest Education with its strong ties to SABIS® is looking at expanding its school network across the African continent. With a young and growing population, the demand for private education in Africa is increasing, and we are glad that Dubai Investments decided to join ACE making a positive impact through the delivery of a top notch educational system. The upcoming period is auspicious for ACE’s growth; as we benefit from DI’s deep experience and exposure to real estate investments.”
About Dubai Investments
Dubai Investments PJSC is a leading diversified investment company listed on the Dubai Financial Market with over 19,800 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the company has grown exponentially with investments in a number of businesses across three core sectors – real estate, manufacturing & industrial and financial investments across the UAE and the Middle East. With prudent use of capital and sound management skills, Dubai Investments has acquired over 70 companies and made profitable exits from some of them in the last 20 years. Dubai Investments currently owns over 40 subsidiaries and joint ventures across a wide array of industries and continues to seek new investment opportunities in new sectors, locally and internationally, as part of its strategic expansion plans.
About Africa Crest Education
Africa Crest Education Holdings (‘ACE’) is SABIS®’ exclusive African education platform that aims to establish for-profit SABIS® private K-12 international schools in attractive locations across the African continent. ACE was established in 2016 in the DIFC – UAE, and is currently present in 3 countries; Egypt, Kenya, and South Africa, with ongoing school development.
About Investbridge Capital
Investbridge Capital is a privately-owned, DFSA regulated independent provider of alternative asset management and corporate advisory solutions covering emerging growth markets. IBC provides dynamic advice and insight to its principals and clients and has advised and transacted on deals in excess of US$ 6 billion. It is backed and supported by a number of prominent individuals and corporates from the regional financial and industrial community. The company was created with an intent of serving its stakeholders with an independent and professional way of identifying unique investment opportunities in the region as well as globally with minimal conflicts that are usually inherent in large investment banks.
About SABIS®
SABIS® is a global education network that is backed by over 130 years of experience in helping students achieve their full potential and succeed in a rapidly changing world. Serving K-12 schools worldwide, the SABIS® Network is currently active in 20 countries across 5 continents. A team of more than 8,000 employees educates over 70,000 students in 56 schools, using a successful and proven education model with a distinguished academic approach and cutting edge technology. The SABIS® Educational System provides students with a top-quality education that prepares them to meet the challenges of a changing world and has achieved outstanding academic results and received multiple awards with graduates gaining entry to the world’s most competitive universities every year.
About Centum
Centum is East Africa’s leading investment company listed on the Nairobi Securities Exchange and Uganda Securities Exchange. Centum has an established and successful track record in executing and developing large projects and enterprises in eight sectors: real estate, power, financial services, education, FMCG, healthcare, agribusiness and ICT. With over 150 experienced professionals, Centum has AUM in excess of US$ 2 billion which includes subsidiaries such as Nabo Capital and Genesis Kenya Investment Management.
