An academic empire previously owned by the veteran politician Kenneth Matiba’s family and several other shareholders, has been acquired by the Hillcrest Investments Limited to enhance national development.
The investment company has acquired the rights to manage Hillcrest International Schools following successful settlements with Barclays Bank of Kenya, which has subsequently lifted the receivership status of the facility from the Matiba family.
Speaking in Nairobi during the confirmation of the acquisition, the Director of Hillcrest Investment Limited and the Managing Partner of Fanisi Capital, Ayisi Makatiani, said that the change of hand aims at developing and strengthening of the school’s heritage and excellence as the investment firm contributes significantly towards national development.
“With this acquisition, we wish to confirm that we are setting off on a grand journey to transform Hillcrest International Schools into world class educational institutions in what we hope will soon be a showcase impact investment project,” Makatiani said.
Makatiani said the acquisition, also sets the foundation for Hillcrest Investments Limited to facilitate the building and expansion of Hillcrest International Schools to the league of what he described as “Africa’s own Eton”,adding that the acquisition will remain seamless and has been structured to ensure normal continuity in all academic and management plans relating to Hillcrest International Schools citing that the only current change is the shareholder profile.
While assuring parents of uninterupted program as they acquire the facility, Hillcrest Investment Limited’s Director, Anthony Wahome, said the main focus will be on the information technology, to ensure they compete favourable worldwide.
“ The Company’s investment plan is heavily anchored on information technology to facilitate transformation to world-class standards. We are committed to maintaining and building upon the rich and vibrant heritage of Hillcrest International Schools by retaining the management and administrative culture while striving to raise the standards and competitiveness of the institution,” Wahome assured.
Wahome also promised to stay committed to the completion of the ongoing projects reiterating that the consortium will maintain and uphold the schools pride, place and reputation.
“As a responsible investor, Hillcrest Investments Limited is sharply aware of the rich heritage of Hillcrest International Schools and wishes to assure students, parents and guardians and all stakeholders of its unwavering commitment to facilitate the successful completion of all ongoing development projects while maintaining the renowned, Hillcrest International Schools’ place, pride and reputation.”
Investors in the consortium include Fanisi Venture Capital Fund and Mr. Anthony Wahome. Fanisi Venture Capital Fund is a $50M venture capital fund.
Fanisi’s major shareholders comprise a number of development finance institutions, including the Norwegian Fund for Developing Countries (Norfund), Finnish Fund for Industrial Cooperation (Finnfund), Proparco (the private sector arm of Agence Française de Développement – AFD) and the World Bank Group’s private sector arm, the International Finance Corporation (IFC).
Hillcrest schools were initiated to support businesses that have a strong developmental impact on East Africa’s economies.
Started in 1964 to cater for the cosmopolitan and multinational society in post-independence Kenya, the schools have continued to ensure that they are among the very best in Africa. It boosts of providing British education to over 600 students from an early age of 18 Months to 18 Yrs at Hillcrest Early Years, Hillcrest Preparatory School and Hillcrest Secondary School.