ADvTECH acquires majority stake in University of Africa, Zambia

LUSAKA (Capital Markets in Africa) – ADvTECH, Africa’s largest private education provider, is pleased to announce 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 is expected to grow rapidly as operations expand.

Founded in 2006, the UoA has established a strong brand as a leading distance education provider and has been acknowledged for its role in providing access to quality higher education in rural communities where access would otherwise be constrained. Its 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 10 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 assist to ensure academic excellence. It will also advise on future appointments of qualified and experienced lecturers and academics, develop work-focused curricula created in conjunction with industry experts, and assist with teaching and delivery methods that are constantly innovated in line with global advancements.

ADvTECH is the holding company of The IIE, South Africa’s largest and most accredited private higher education institution. The IIE’s brands include Vega School of Brand Leadership, Rosebank College, Varsity College and The Design School of Southern Africa, and its qualifications and graduates are highly sought after in the workplace.

The IIE, through its brands, offers more than 90 qualifications, from higher certificates to post-graduate degrees.