Reuters – July 1st, 2020
Actis-backed African education group acquires Nigerian university – CEO
Honoris United Universities, majority owned by private equity firm Actis, has universities in countries including Tunisia, Morocco, Mauritius, South Africa, Zimbabwe and Zambia.
CEO Luis Lopez said Honoris closed the deal to acquire Nile University in February before the COVID-19 pandemic hit Nigeria. He declined to disclose financial details of the acquisition.
Nigeria is the education group’s first entry into West Africa, he added.
Some 1,700 students have graduated from Nile, founded in 2009 in the capital Abuja. It has 3,500 students who pay tuition fees of around 2.4 million naira ($6,700) each on average per year.
Lopez said Honoris would look to expand the university’s 113-hectare campus and increase its student base to 10,000 within six years.