Global law firm Norton Rose Fulbright has advised a consortium of development finance institutions, comprised of Proparco, IFU and Finnfund, on their US$21 million equity investment into African Edu Holdings (AEH).
AEH is an education platform providing high quality and market-relevant tertiary education in sub-Saharan Africa.
The increase in capital will support the further development of this platform, which currently operates in Uganda and Zambia. The aim of AEH is to acquire new universities, build additional accommodation capacity, renovate several campuses and offer academic programmes adapted to the needs of the target countries.
This investment is expected to enable AEH to train nearly 43,000 students over the next five years and to support more than 2,000 direct and indirect jobs.
Bayo Odubeko, Norton Rose Fulbright’s London-based corporate partner who led on the deal, commented:
“This investment illustrates the increased demand for extended higher education opportunities in sub-Saharan Africa and is a reflection of impact investing that is at the core of the development finance institution clients’ objectives.”
Bayo Odubeko was supported by associate Louise Finnegan.
Bayo Odubeko advises many of the leading Africa-focused private equity and infrastructure funds and development finance institutions investing into Africa as well as regional development finance institutions.
Norton Rose Fulbright has advised on deals in Africa for more than 30 years, advising both on transactions and on-going commercial operations. The firm also assists clients in building their businesses both on the continent and internationally.