French investment firm Investisseurs & Partenaires (I&P) has realised a 2.2-fold return following its exit from pan-African education network Enko Education, the firm disclosed to Launch Base Africa. The exit, which concluded in December 2024, marks the end of a near decade-long partnership that saw Enko Education expand its footprint and solidify its position in the continent’s education sector.
I&P first invested in Enko Education in July 2016 through its I&P Afrique Entrepreneurs 1 fund, alongside Proparco, the French development finance institution. At the time, Enko was a nascent startup with a vision to provide African students with access to world-class university education through a blend of international curricula and personalised guidance.
Founded in 2013, Enko Education has grown into a network of 16 schools across 10 African countries, catering to over 7,000 students from kindergarten to high school. The network offers internationally recognised programmes such as the International Baccalaureate and Cambridge curricula, coupled with a dedicated university orientation programme. By 2025, Enko boasts 1,770 alumni, with a notable 80% having gained admission to universities outside of Africa, including institutions such as Yale, Sciences Po, and the University of Toronto, as well as leading African universities like the African Leadership University.
A flagship success story within the network is Enko La Gaieté in Yaoundé, Cameroon, the first school established by Enko. Alongside its sister school, Enko Bonanjo in Douala, it has become a leading provider of international education in the country. Enko La Gaieté’s consistent success in the International Baccalaureate examinations, with a 100% pass rate for its first cohort in 2017 and a sustained 90% success rate in international higher education placements over the past three years, underscores the network’s commitment to academic excellence.
Thierry Adam, Director of Enko La Gaieté, stated, “Enko La Gaieté, and its sister school Enko Bonanjo in Douala, embody Enko Education’s ambition: to develop African international schools of choice for our communities on the African continent, to promote access to the best universities. We are proud of our students’ success, which reflects the commitment of our teachers, non-teaching staff, and our families.”
The partnership with I&P proved to be a significant catalyst for Enko’s growth. During I&P’s investment period, Enko Education witnessed a remarkable 22-fold increase in revenue and achieved profitability in the 2020–2021 fiscal year. The company also pursued an ambitious acquisition strategy, expanding its presence in Senegal, Mali, and more recently, in East and North Africa.
Beyond financial growth, the collaboration yielded substantial impact. Enko Education has provided over 9,000 young Africans with access to quality international education, facilitating their entry into higher education and fostering their personal and professional development. The network also established a scholarship programme to ensure that 10% of its student body comprises talented individuals from financially constrained backgrounds.
In late 2024, Enko Education successfully raised $25 million from Africa Capitalworks and Adiwale Fund I, with the primary goal of tripling its student numbers to 20,000 by 2029. This fundraising provided the opportunity for I&P to realise its exit, concluding a mutually beneficial relationship.
Jérémy Hajdenberg, Co-CEO of I&P, commented, “Supporting Enko Education since its inception has been a tremendous human and entrepreneurial adventure. Alongside Proparco, we have believed in the vision of Cyrille Nkontchou and Eric Pignot from the very beginning, and the company has demonstrated that a demanding, inclusive, and accessible educational model is possible in Africa. We are proud to have helped lay the foundations for its success, with the growing support of private African investors, and today, the support of quality partners such as Adiwale and Africa Capitalworks.”
Eric Pignot, Co-Founder and CEO of Enko Education, expressed his gratitude, stating, “I would like to express my sincere gratitude to I&P, who were the very first investors to believe in Enko Education. Their early trust and support were a true catalyst for our project, and this founding relationship has a special meaning for me. Their exit today marks a new stage in our journey: the one where we take flight, building on the solid foundations we built together. I know that I&P will never be far away, always attentive to the impact we will continue to generate.”
I&P’s successful exit from Enko Education underscores the potential for impactful investments in Africa’s burgeoning education sector. It also highlights the crucial role of patient capital in nurturing early-stage businesses into scalable and impactful enterprises. For Enko Education, the recent fundraising and I&P’s departure mark a new chapter focused on accelerated growth and expanding its reach across the continent.
Key Figures — Enko Education
- 10 years of operation
- Presence in 10 countries with 16 schools
- 1,770 alumni by 2025
- Over 9,000 students since inception
- 80% of graduates admitted to universities outside Africa
- More than 100 partner universities worldwide (2024)
- USD 25 million raised in 2024
Key Figures — Partnership with I&P
- Investment date: July 2016
- Exit date: December 2024
- Amount invested: €1 million