East Africa-focused private equity firm Fanisi Capital has acquired minority stake in St Bakhita Schools valued Sh265 million ($2.5 million).
It becomes the third investment that Fanisi is making in the education sector after Hillcrest International Schools and Kitengela International Schools.
Fanisi Capital’s Managing Partner, Ayisi Makatiani said the schools fit within their investment strategy, which aims to invest in ambitious entrepreneurs providing high quality education.
“Education is a core sector for Fanisi because it’s the bedrock of growth of any economy. Together with Felista Mutinda, the school’s founder, we are looking at building a network of schools across the region and we are excited about this prospect,” said Mr Ayisi.
St Bakita was founded 16 years ago in Nairobi, starting off as a kindergarten and has expanded to operate three campuses with a population of over 1,300 students.
Plans are underway to open two additional campuses in the next five years.
Ms Mutinda said the school is making strides towards achieving its vision of providing quality and affordable education from an early age.