Riara Group of Schools sold to Swedish investors

A Swedish-based chain of schools has acquired Riara Group of Schools in Kenya, raising the stakes in the education sector which has lately been attracting the attention of international investors.

The family-owned group of schools announced last week it has partnered with Actus Education Holdings, Swedish’s largest private school chain, which is expanding its roots to Kenya and the larger East Africa region. The sale was revealed in a letter from the school’s management to parents.

The acquisition, whose financial details remain secret, comes a year after UK-based investor Scholé Limited and ADvTECH acquired Makini School from its founder, Mary Okello, in a deal valued at Ksh1 billion. The 71% interest in Makini School Limited was acquired on 1 May 2018 for a R130.8 million (an equivalent of Ksh930 million).

Riara Schools chairman and chief executive officer Daniel Gachukia said the current management will continue to operate the schools with Alan Gachukia and Juju Gachukia as executive directors. Mr Gachukia and educationist Dr Eddah Gachukia have been running the schools that they started 40 years ago.

“As we embark on our vision to make Riara the foremost brand in East Africa, we want to assure you that the Riara ethos and values will be the foundation on which we build a bright future and continue to educate more children,’’ said Mr Gachukia in a statement to parents on April 5.

[ Read Also: How Mary Okello transformed Makini School into a Ksh2 billion enterprise ]

He said partnering with Actus presents Riara with the opportunity to take its “vision further and to expand our quest for the highest standards of education for Kenya.”

These will be exciting times for all Riara staff, he said, as opportunities for professional advancement and leadership would increase, adding that vital teacher training in emerging skills and cutting edge pedagogy would be the new standard.

The  should is set for a face-lift, which will include a makeover of the existing campuses. “We will also invest heavily in curriculum enhancement leveraging on IT, state-of-the-art teaching methodology, robotics, cultural activities and co-curricular resources,” said Mr Gachukia.

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