Private equity firm invests cash to acquire minority stake in St Bakhita
Fanisi Capital, a Kenyan private equity fund has invested $2.5 million (Sh265.9 million) in St Bakhita Schools for a minority shareholding.
Fanisi Capital’s Managing Partner, Ayisi Makatiani said the schools fit within the firm’s investment strategy which aims to invest in ambitious entrepreneurs providing high quality education and building the country’s future leaders.
St Bakhita has over 1,300 students across three campuses and aims to open two more schools over the next five years.
Core sector
“Education is a core sector for Fanisi because it’s the bedrock of growth of any economy.
Together with Felista Mutinda, the school’s founder, we are looking at building a network of schools across the region and we are excited about this prospect,” he said.
St Bakhita School opened its doors as a kindergarten with 35 students in 2003.
Today, the school has three campuses in South B, Sabaki and Eagle plains residential estate, offering one of the highest levels of kindergarten and primary education within the country.
The school has been on the forefront in the transition to the new Competency- Based Curriculum (CBC) and embraced e-learning and teaching for its young learners.
While the schools are currently closed due to the Covid-19 pandemic, they have been successful in implementing remote learning and are also using this time to upgrade their infrastructure.
Mutinda said education was a key ingredient in building the country’s economic growth and the school was making tremendous strides towards achieving its vision of providing quality and affordable education from an early age.
“St Bakhita Schools aim to create a solid foundation that will impact the society for a long time through quality education and this investment by Fanisi Capital gives us a strong financial footing to enable the school drive this agenda”, he said.
The investment in St Bakhita School is Fanisi’s third investment within the education sector.
