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Actis-backed African education group acquires Nigerian university - CEO

Published 01/07/2020, 11:21
Updated 01/07/2020, 11:24

By Chijioke Ohuocha
ABUJA, July 1 (Reuters) - A pan-African education group
backed by global investment firm Actis has acquired its first
university in Nigeria as it seeks to make inroads into Africa's
largest economy, its chief executive told Reuters.
Honoris United Universities, majority owned by private
equity firm Actis, has universities in countries including
Tunisia, Morocco, Mauritius, South Africa, Zimbabwe and Zambia.
CEO Luis Lopez said Honoris closed the deal to acquire Nile
University in February before the COVID-19 pandemic hit Nigeria.
He declined to disclose financial details of the acquisition.
Nigeria is the education group's first entry into West
Africa, he added.
Some 1,700 students have graduated from Nile, founded in
2009 in the capital Abuja. It has 3,500 students who pay tuition
fees of around 2.4 million naira ($6,700) each on average per
year.
Lopez said Honoris would look to expand the university's
113-hectare campus and increase its student base to 10,000
within six years.
"The first thing we noted is that there is big demand for
high-quality education provided in Nigeria," he told Reuters.
The pandemic has disrupted learning for students seeking
education at home and abroad.
Honoris has been supporting its students with digital and
distance learning platforms for the past four months as the
COVID-19 pandemic disrupt services.
Lopez said Honoris would expand Nile's distance learning and
digital capabilities to target students in the commercial city
of Lagos and two other states in northern Nigeria.
($1 = 360.00 naira)

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