ADvTECH Group

https://lnkd.in/dsPTahG2 The ADvTECH Group (ADvTECH) announced today that it has concluded an agreement to acquire a 100% interest in Flipper International School in Addis Ababa, Ethiopia, further reinforcing its position as a leading provider of private education on the African continent. The acquisition will add five schools and an additional 3 000 students to the Group’s international portfolio in the fifth fastest growing city on the continent. The acquisition was internally funded by ADvTECH. Commenting on the acquisition, ADvTECH CEO, Geoff Whyte said: “We are delighted to welcome Flipper International School to the ADvTECH Group as we expand our presence across Africa and further cement our status as the leaders in teaching and learning on the continent.” Well-known for its academic excellence, Flipper International School was founded in 1998 by Mrs Menna Selamu Bekele and Mrs Serkaddis Seifu Yeteshawork. In 2018, the founders sold an 85% stake to Tana Africa Capital and the Saham Group. Sharing their thoughts on the acquisition Menna and Serkaddis said: “We are incredibly proud of what we have built at Flipper International School. Our mission has always been to be a beacon of academic excellence in the region. We are confident that ADvTECH’s expertise and resources will help the school further enhance the educational experience and growth opportunities for students and staff.” Flipper International School’s five campuses are located in Beklobet in the centre of Addis Ababa and in Summit to the east of the city. Total current capacity of the five locations amounts to more than 3 500 students. Addis Ababa is benefitting from the rapid urbanisation in Ethiopia, leading to increased demand for high-quality education. “As a business, ADvTECH is in a unique position to make a truly meaningful difference to people’s lives and futures. Flipper International School has always been a beacon of academic excellence in the region. We look forward, therefore, to applying our resources and expertise to this school and taking it to even greater heights in the years to come,” concluded Whyte. 

https://lnkd.in/dBTPt6gY 20 November 2024: The ADvTECH Group (ADvTECH) is pleased to announce the appointment of Hannes Boonzaaier as designated Group Chief Financial Officer and Executive Director with effect from 1 February 2025.   After an initial handover period, Boonzaaier will succeed Didier Oesch who, as previously announced, will retire at the end of April 2025 after more than 19 years of distinguished service with the Group.   Boonzaaier, a Chartered Accountant, joined the AfroCentric Group in 2003 and is currently the Group Chief Financial Officer. He has held this position since 2015 and is responsible for all financial management and investment decisions at the group. Prior to joining the AfroCentric Group in 2003, Boonzaaier was a senior manager in the corporate finance team at KPMG where he also completed his Articles.    Commenting on the appointment, ADvTECH Chief Executive Officer, Geoff Whyte said: “The Board and the executive team are pleased with the appointment of Hannes as CFO. We are confident that his experience as the CFO of a listed company, coupled with his overall business acumen, will further support the delivery of our ambition and implementation of our growth strategy. I look forward to working closely with him.” 

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Today ADvTECH published another set of strong results for the six months ended 30 June 2024. These results were delivered off the back of healthy enrolment growth, moderate fee increases and continued margin improvement. I’m proud of the ADvTECH team’s unrelenting focus on extending our competitive advantage and enriching people’s lives across the African continent.  https://lnkd.in/dWNBcDQr

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“As we celebrate International Day of Education, we at ADvTECH are well-positioned to have a positive impact on society, by providing quality education to the next generation of global citizens,” said Roy Douglas, ADvTECH Group CEO.