[ACCI-CAVIE] Announced last October 2022, the marriage between the Africa 50 fund and the Moroccan private education group Holding Générale d’Education (Holged), has just become a reality. Indeed, the Moroccan leader in non-university private education has just welcomed the pan-African infrastructure investment platform, Africa 50, in its round table.
With a total amount of 88.3 million dirhams (including the issue premium), the fund raising operation allows the new shareholder to hold for the moment some 13% of the capital of the parent company of the education groups Al Yassamine Schools, Jouri Schools and Al Jabr. A second injection planned in the coming months should finalize the operation and allow the pan-African investment fund based in Casa Finance City to reach a 20% share of the capital.
The transaction will enable Holged to finance the pursuit of its internationalization strategy and more particularly its project to set up in Egypt, a country where the private education sector has experienced an unprecedented boom in recent years. If such an establishment were to be realized, it would mark the second milestone in Holged’s conquest of North Africa after the acquisition in 2017, alongside other investor partners, of the majority of the capital of the International School of Carthage for nearly $30 million (more than MAD 300 million).
Remember that Holged is controlled by the Benyahya family, founder of the Al Yassamine school group which has already welcomed in its capital no less than three investment funds, in this case the duo TPG Growth and Satya Capital in 2016 for the financing of the acquisition of Al Jabr Schools and more recently in 2022 the Tunisian SPE Capital.
By Adama Sylla and LB