Actis-backed Group Acquires Nigerian University

By July 3, 2020 Investment News

Honoris United Universities, an African education group backed by Actis, has acquired the Nile University in Abuja, its first University acquisition in Nigeria and the entire West African region.

The CEO, Luis Lopez announced that the deal was closed back in February before the COVID-19 pandemic spread across the continent.

The group owns private universities in Morocco, Tunisia, Mauritius, South Africa, Zambia, and Zimbabwe. Now, it wants to add Nigeria to its portfolio.

In 2017, the private equity firm, Actis, set up a $275 million higher education platform for Africa through the Honoris United Universities initiative.

1,700 students have so far graduated from the insitution since it was founded in 2009 and it currently has 3,500 students with a tuition of $6,700 (N2.4 million).

The CEO said it noticed a demand for high-quality education in Nigeria and plans on expanding its student base to 10,00 in six years.

Honoris will also expand its digital distance learning programmes with the aim of attracting students in Lagos and 2 other cities in northern Nigeria.


Source: Nairametrics