Cape Town - South Africa's biggest private education firm, Curro Holdings, on Monday said it had acquired a 50-percent stake in Botswana-based BA Isago University as part of its stated goal to run 80 campuses by 2020.
The JSE-listed independent schools group said the university, which was established in 2002, had four campuses: Gaborone, Francistown, Serowe and Maun. It had about 3 000 students, but intended to expand to accommodate around 6 000.
“The BA Isago University acquisition aligns with Curro’s business strategy and offers a strong faculty of education,” the statement added.
Curro, which has 47 campuses and more than 42 000 learners, has set a target to have 80 campuses by 2020.
Curro said the acquisition was made via its wholly-owned subsidiary, The Embury Institute for Higher Education, an accredited institute for higher education that focused primarily on teacher education. It was previously known as the Embury Institute for Teacher Education.
The statement added that the transaction, which was subject to the fulfilment of various conditions, would be funded by means of existing cash reserves and bank loans.
* With additional reporting by Reuters
AFRICAN NEWS AGENCY