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Home Industries Corporate deals

Actis-backed group acquires Nigerian university

William Ukpe by William Ukpe
July 1, 2020
in Corporate deals
Actis-backed group acquires Nigerian university
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Honoris United Universities, an African education group backed by Actis, has acquired the Nile University in Abuja, its first University acquisition in Nigeria and the entire West African region.

We are thrilled to announce the addition of an incredible institution into the Honoris network. We'll be making the announcement tomorrow, so follow our feed to join us in welcoming them! #HonorisUni #EducationForImpact #NationBuilders #Education #PioneeringEducation pic.twitter.com/x2PgJtoNf5

— Honoris United Universities (@HonorisUni) July 1, 2020

The CEO, Luis Lopez announced that the deal was closed back in February before the COVID-19 pandemic spread across the continent.

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READ ALSO: NCC disburses N100 million to universities for ICT Research

The group owns private universities in Morocco, Tunisia, Mauritius, South Africa, Zambia, and Zimbabwe. Now, it wants to add Nigeria to its portfolio.

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In 2017, the private equity firm, Actis, set up a $275 million higher education platform for Africa through the Honoris United Universities initiative.

1,700 students have so far graduated from the insitution since it was founded in 2009 and it currently has 3,500 students with a tuition of $6,700 (N2.4 million).

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READ ALSO: Growth must be seen in citizens’ lives, AfDB President to African leaders 

The CEO said it noticed a demand for high-quality education in Nigeria and plans on expanding its student base to 10,00 in six years.

Honoris will also expand its digital distance learning programmes with the aim of attracting students in Lagos and 2 other cities in northern Nigeria.

READ MORE: Nigeria, Kenya, South Africa attracted $3.9 billion VC deals in 6 years

 

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Tags: ActisBusiness NewsHonoris United UniversitiesLuis LopezNile University i

Comments 1

  1. Anonymous says:
    July 1, 2020 at 10:00 pm

    Would recommend proofreading your pieces before you put them out

    Reply

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