Enko Education is democratizing access to tertiary education in Africa. Image Credits: Enko Education
Enko Education, the umbrella name for a prominent network of African international schools, has announced the closure of a $24 million equity investment round. The investment round saw participation from Africa Capitalworks, along with continued backing from existing investor Adiwale Fund I. The funding will fuel the group’s ambition to kick off an acquisition spree that will see its student body triple to reach 20,000 learners by 2029.
Enko Education was founded in 2013 by Eric Pignot and Cyrille Nkontchoum. The educational startup set out to launch its school in Cameroun one year later, gaining the status of being the first International Baccalaureate (IB,) – authorized school in Central Africa. The past decade has seen the group grow to 26 schools across 10 countries including South Africa, Senegal, Côte d’Ivoire, and Zambia, educating over 7000 students. Africa, the World, and the Future form the three core pillars of Enko Education’s African International School of Choice model.
Access to quality higher education remains one of the problems Africa grapples with. Only 9% of African students eventually advance to tertiary education, compared to the global average of 40%. Enko Education seeks to address this gap by offering a pathway to world-class university education through its network of international schools. The group provides primary and secondary education designed to prepare learners for admission to top universities globally.
As a testament to Enko Education’s impact, the group has seen more than 1,700 graduates secure admission to over 500 prestigious universities worldwide, including Yale University, Sciences Po, and the University of Toronto. The $24 million investment will fund Enko Education’s large-scale acquisition strategy aimed at consolidating Africa’s fragmented K-12 education market. The group plans to acquire schools that align with its African International School of Choice framework, enabling them to integrate into its network while preserving their unique identities and enhancing academic standards.
“With the support of ACW and Adiwale, we are accelerating our efforts to provide quality education to a growing number of students across Africa. This partnership will help us achieve our goal of reaching 20,000 learners by 2029 and preparing them for admission to the world’s leading universities.” said Cyrille Nkontchou co-founder and non-executive chairman of the group.
Eric Pignot, co-founder and CEO, highlighted the role of acquisitions in the group’s growth strategy. “Enko Education is becoming the preferred partner for school owners seeking to preserve their vision while accessing the resources necessary for growth and long-term success,” he said.
Africa Capitalworks, a permanent capital vehicle focused on mid-market companies in Sub-Saharan Africa, is a key partner in Enko Education’s expansion. “Our investment aligns with our mission to support high-growth, high-impact companies across the continent. We are proud to back Enko Education’s vision of consolidating the international school market and delivering both economic and social impact.” said Grégoire Fredet, Partner at ACW.
Adiwale Fund I, a EUR 60 million fund based in Abidjan, Côte d’Ivoire, has been a long-term supporter of Enko Education. “This partnership underscores our commitment to fostering education and innovation in West Africa and beyond,” said Jean-Marc Savi de Tové, Managing Partner at Adiwale.
