Old Mutual Alternative Investments (OMAI) invests in Sifiso Learning Group through its second education impact fund, EduFund

18 November 2020 Old Mutual

Based in Illovo, Johannesburg, Sifiso Learning Group (SLG) is a 100% Black Owned private education group

Old Mutual Alternative Investments (OMAI), one of Africa’s largest private alternative investment managers, today announces the first investment of its Education Investment Impact Fund of South Africa (EduFund), with the Sifiso Learning Group (SLG), a 100% Black Owned private education group.

Founded in 2017 by Sizwe Nxasana and Dr Judy Dlamini, SLG provides a project-based education model which integrates new and innovative teaching and learning techniques into its curriculum. SLG’s network of independent schools aim to provide Africa-focused and technology-enabled education, preparing Africa’s youth for the digital future.

EduFund’s investment, which consists of a debt facility to a special purpose vehicle forming part of SLG, was utilized in the development of the second phase of the Future Nation Fleurhof School, situated in the Fleurhof suburb of Roodepoort. The school consists of a pre-school, primary school and high school, and currently has 790 learners, with capacity to accommodate up to 1,220 learners. The school proudly employs 57 teachers, of which 92% are from Historically Disadvantaged Groups, with a student demographic profile that comes entirely from Historically Disadvantaged Groups.

Kelly Joshua, Head of Education Investments at OMAI, commented, “SLG is an excellent first addition to our portfolio; it’s a progressive and emerging education provider with an outstanding reputation. The group has a strong focus on providing quality education that equips learners with the skills to thrive in an ever-changing environment. We are delighted to be supporting the founders in achieving their mission.”

Sizwe Nxasana, Founder of Sifiso Learning Group and Future Nation Schools commented, “At Future Nation Schools, we believe that innovative, creative education has the potential to shape future generations of African leaders. The funding from OMAI has enabled us to continue to develop and strengthen our portfolio of schools, creating much needed education opportunities for South Africa’s youth.”

Joshua added: “In establishing EduFund, our objective was twofold: to generate an attractive risk-adjusted return for our investors and to create a measurable positive impact in the education sector in South Africa. We are confident that we will continue to see strong growth in the education sector, driven by population growth, increasing demand from the emerging middle class, and a lack of capacity in existing schools and tertiary institutions.”

Edufund is OMAI’s second education-focused impact investing fund, investing across the education sector in South Africa, including schools in the Affordable and Middle-Income market segments, tertiary education, and ancillary education services.

In addition to EduFund, OMAI manages the Schools and Education Investment Impact Fund of South Africa (SEIIFSA), the country’s first education-focused impact fund. SEIIFSA has provided investors with consistent returns since its inception in 2011, boasts a portfolio of 39 schools, 90% of which in the Affordable Market segment, with 22,800 learners, and is expected to reach a capacity of 30,800 learners, and 1,600 permanent staff, by the end of its term in 2031.

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