• ADvTECH has acquired a 100 percent interest in Flipper International School in Addis Ababa, Ethiopia.
• This acquisition adds five schools and 3 000 students to ADvTECH’s portfolio.
• ADvTECH paid R135 million for the school in the transaction that was funded internally.

The end of the year is rapidly approaching but South African private education company ADvTECH shows no sign of slowing down just yet. After announcing the appointment of a new chief financial officer this week, it has now announced a new acquisition.

The company has announced the acquisition of a 100 percent interest in Flipper International School in Addis Ababa, Ethiopia. ADvTECH told shareholders it paid R135 million ($7.5 million) in the transaction that was funded internally.

“We are delighted to welcome Flipper International School to the ADvTECH Group as we expand our presence across Africa and further cement our status as the leaders in teaching and learning on the continent,” ADvTECH chief executive officer Geoff Whyte said in a statement.

With this acquisition, the company adds five schools and 3 000 students to its portfolio, expanding its footprint further into the African continent. The schools are located in Beklobet in the centre of Addis Ababa and in Summit to the east of the city.

Flipper International School was founded in 1998 and sold an 85 percent stake in the school to Tana Africa Capital and Saham Group in 2018.

“As a business, ADvTECH is in a unique position to make a truly meaningful difference to people’s lives and futures. Flipper International School has always been a beacon of academic excellence in the region. We look forward, therefore, to applying our resources and expertise to this school and taking it to even greater heights in the years to come,” Whyte added.

Through this acquisition, ADvTECH is laying down roots in the second most populous nation in Africa behind Nigeria with one of the fastest-growing economies on the continent.

The country is not without its challenges though. The World Bank reports that since 2018, 91 percent of the population has experienced persistent droughts, floods, locust infestations, conflict or a combination of these. Living standards are on the decline and 15 million people rely on food aid.

However, the Ethiopian government recognises the value of private-public partnerships and has shifted toward a growth model that is driven by the public sector.

The entry of ADvTECH into the country seems to align with that plan and we’re sure locals will benefit from the company’s expertise in the education sector.