Enko Education, a rapidly growing network of international schools across Africa, has announced a significant investment of 1.5 million euros, equivalent to approximately $1.77 million in dollars. This funding, secured from Oikocredit, a Netherlands-based cooperative and social investment firm, marks a new phase of expansion for the education group, building upon previous investments from Proparco and Investisseurs et Partenaires in August 2016.
Since its inception in 2014, Enko Education has been dedicated to transforming access to high-quality international education for students in Sub-Saharan Africa. The organization currently operates nine schools across five countries, including Senegal, Ivory Coast, Cameroon, Mozambique, and South Africa. Enko schools are distinguished by their provision of prestigious international programs and a comprehensive university admission counseling service, effectively serving as a launchpad for African students to attend top-tier universities worldwide.
Eric Pignot, Founder and CEO of Enko Education, highlighted the strategic importance of this new debt financing. “This loan of 1.5 Million Euros In Dollars will be instrumental in fueling Enko Education’s growth strategy, specifically by providing the capital necessary for acquiring existing educational institutions and establishing new schools,” he explained. This investment underscores Enko’s commitment to broadening its reach and impact across the continent.
Mr. Pignot further elaborated on the immediate expansion plans, stating, “Having successfully launched our inaugural school in Senegal in September of this year, we are now focused on continuing our development both in our current locations and expanding into other countries within the region where the demand for accessible international education is significant.” This expansion is driven by the demonstrated success of the Enko Education model. Graduates from Enko’s initial classes have gained admission to globally recognized universities such as Yale College, Sciences Po, the University of Toronto, African Leadership University, and Capital University of Economics and Business in China.
Lygia Cesar, investment manager at Oikocredit, expressed enthusiasm for the new partnership, stating, “Oikocredit is excited to embark on this promising and impactful partnership with Enko Education. We recognize the significant value proposition of Enko’s approach to education and are fully aligned with their mission to broaden access to high-quality education for the African population.” This collaboration reflects Oikocredit’s commitment to supporting initiatives that foster sustainable improvements in living standards through education.
About Enko Education
Enko Education is recognized as a rapidly expanding network of international secondary schools in Africa. The network is specifically designed to prepare students from across the continent for successful admission to leading universities around the world. Enko Education’s innovative model is built upon the internationally acclaimed International Baccalaureate Diploma Programme (IBDP). By employing an asset-light strategy and investing in the extensive training of local educators, Enko Education is able to offer school fees that are, on average, just 25% of those charged by comparable IBDP schools in Africa, making quality international education more accessible.
Launched with its first school in September 2013, Enko Education has grown to include 9 schools across Cameroon, Ivory Coast, Senegal, Mozambique, and South Africa. The organization has ambitious plans to launch an additional 30 schools within the next five years. Enko Education’s mission is supported by a consortium of international development institutions and private equity funds, including Proparco, I&P, and now Oikocredit, enabling its continued growth and impact.
About Oikocredit
Oikocredit boasts over four decades of experience in providing funding to partner organizations engaged in inclusive finance, agriculture, and renewable energy sectors. Oikocredit’s financial support, encompassing loans, investments, and capacity building, is specifically aimed at empowering individuals with low incomes to achieve sustainable improvements in their living conditions. Oikocredit’s extensive portfolio includes financing for approximately 800 partners across 70 countries, with a total outstanding capital of €1,047.2 million, demonstrating its significant global impact in social investment.
