The International Finance Corporation (IFC) has sold its minority stake in Bridge International Academies (BIA) to a philanthropic investment firm after almost a decade as a shareholder.
The World Bank’s private-sector lending arm announced that it has exited investment in NewGlobe Schools, the parent company of BIA effective March 3, 2022, after making Investments including equity purchase in excess of $10million (Sh1.14 billion) in the company since 2013.
