Dubai Investments Announces $20 Million Investment in Africa Crest Education
Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has announced US$ 20 million direct investment into Africa Crest Education Holdings – an investment company promoting quality education across the African continent.
The investment will fund development of SABIS® operated schools in Africa, with an initial target pipeline of projects in Kenya, Egypt, South Africa, Uganda and Morocco. Dubai Investments subsidiary Al Mal Capital advised DIC on its investment in ACE. Al Mal Capital will also continue to manage the investment in ACE on DIC’s behalf. Investbridge Capital arranged and advised on behalf of Africa Crest Education.
Dubai Investments will join founding investors: Investbridge Capital (IBC), an independent alternative asset management and advisory firm based in Dubai International Financial Centre; Centum – a leading East Africa’s Investment Company listed on Nairobi and Uganda Securities Exchanges; and SABIS®, a 130+ years’ global school operator educating over 70,000 students across five continents in the project.
The initial project in Kenya, The SABIS® International School – Runda, is currently under construction and now accepting applications for its opening in September 2018. The school will be located on a state-of-the-art campus of 80,000 m² within Runda neighborhood in Nairobi providing outstanding, non-selective, co-educational English-medium education serving local & international communities.
Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “Dubai Investments is pleased to partner with ACE and SABIS on this project. This is part of the Company’s continued efforts to boost its investments in the education sector and making a foray into the African continent. SABIS has a long-standing history of offering quality schooling and is a respected name in global education landscape and this partnership will go a long way in opening school doors to millions across Africa.”
Mark DeSario, Co-Founder and Chief Executive Officer of Investbridge Capital and Board member of ACE, says: “Having Dubai Investments join the Founding Shareholders is a welcomed event and one we believe adds great value to ACE. Dubai Investments is the largest listed diversified investment company listed on the Dubai Financial Market with a market cap of c. US$ 3 billion. Their investment in ACE confirms that strong and robust business execution strategies in the education sector, based on the fundamentals, matched with deeply experienced partners and a well-structured project pipeline will attract the very best institutional investor base.”
Johnny Harb, the CEO of ACE, said: “Africa Crest Education with its strong ties to SABIS® is looking at expanding its school network across the African continent. With a young and growing population, the demand for private education in Africa is increasing, and we are glad that Dubai Investments decided to join ACE making a positive impact through the delivery of a top notch educational system. The upcoming period is auspicious for ACE’s growth; as we benefit from DI’s deep experience and exposure to real estate investments.”
Dubai Investments (DI) is a world-class company that invests in viable and profitable entities. The company has an enviable track record and has shown leadership in all fields of investment activities in the UAE and the Middle East. With over 20,800 shareholders, and paid-up capital of AED 3.5 billion, it is the largest investment company listed on Dubai Financial Market. Its prudent use of capital and sound management skills enables it to establish, acquire, or strategically participate in successful corporate ventures throughout the region.
The series of developments that has taken place in DI over recent years, such as the increase in the number of subsidiary companies to 47 and the increase in share capital, has grown the business from a relatively small concern to a thriving large-scale company today.
Looking ahead DI plans to expand its existing businesses and simultaneously seek new investment opportunities, specifically in the industrial and real estate sectors. Current business interests span a diverse range of sectors from telecommunications to finance.
Buy credits to publish your articles on Al Bawaba Biz here