IFC investment to support private higher education push into Africa

By Yojana Sharma. A US$150 million equity investment by the World Bank’s International Finance Corporation (IFC) into US-based for-profit education company Laureate Education will help spearhead a push into Africa, in line with World Bank aims to develop post-secondary education and skills training on the continent. The IFC, which funds private companies rather than governments, announced its stake in Laureate – billed as its largest ever investment in education – late last month. The IFC will invest US$100 million in Laureate “to support the growth of Laureate’s global network of institutions”, with an additional US$50 million coming from the IFC’s African, Latin American and Caribbean Fund. Laureate will be expanding in Africa, said Damian Olive, the IFC's principal investment officer. “IFC has been in Africa for a long time so hopefully we can help them expand their services there.” Read more...