Enko Education, a prominent network of African international schools, has closed a $24 million equity investment round led by Africa Capitalworks (ACW), with continued support from returning investor Adiwale Fund I. The funding will enable the group to execute an ambitious acquisition strategy aimed at tripling its student body to reach 20,000 learners by 2029.
Access to higher education remains a significant challenge in Africa, where only 9% of students advance to tertiary education, compared to the global average of 40%. Enko Education aims to bridge 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.
Founded in 2013 by Eric Pignot and Cyrille Nkontchou, Enko Education launched its first school in Cameroon in 2014, becoming the first International Baccalaureate (IB)-authorized school in Central Africa. Over the past decade, the group has grown to 16 schools across 10 countries, including South Africa, Senegal, Côte d’Ivoire, and Zambia, educating over 7,000 students. Its unique African International School of Choice model focuses on three core pillars: Africa, the World, and the Future.
Enko Education’s impact is reflected in its results: more than 1,700 graduates have secured admission to over 500 prestigious universities worldwide, including Yale University, Sciences Po, and the University of Toronto. These achievements underscore the group’s commitment to increasing access to quality education and broadening opportunities for African learners.
Scaling Through Strategic Acquisitions
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,” said Cyrille Nkontchou, co-founder and non-executive chairman. “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.”
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. Recent acquisitions, such as École Bilingue Avenir in Senegal and Cours Lumière in Togo, demonstrate the group’s ability to integrate diverse institutions into its network effectively.
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,” said Grégoire Fredet, Partner at ACW. “We are proud to back Enko Education’s vision of consolidating the international school market and delivering both economic and social impact.”
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.
With the latest funding, Enko Education aims to solidify its presence in existing markets while expanding into new territories with high growth potential. The group remains dedicated to its mission of increasing access to quality education and empowering students to achieve their dreams of higher education on a global stage.
Enko Education’s innovative approach and proven track record position it as a key player in transforming Africa’s education landscape. By leveraging strategic investments and partnerships, the group is poised to play a significant role in shaping the future of education across the continent.