Fanisi Capital, a Kenyan Private Equity Fund has completed a transaction to invest 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 who are 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.
“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”, said Ayisi.
St Bakhita School opened its doors as a Kindergarten with 35 students in 2003. Today, the school has 3 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.
The School’s founder Ms Mutinda said that education is a key ingredient in building the country’s economic growth and the school is 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”, Ms Mutinda explained.
Ms Mutinda urged the private sector to emulate Fanisi Capital’s example and invest more in the education sector, terming it an investment that will provide the country with quality leadership that will steer the country to future economic prosperity.
The investment in St. Bakhita School is Fanisi’s third investment within the education sector. Last year, it exited Hillcrest International Schools to GEMS Education, a school into which it had invested in 2011 (through its predecessor Fund, Fanisi Fund I). It also invested in Kitengela International Schools in 2018.