Newglobe Schools Inc

East Africa, West Africa,Africa Education

NewGlobe Schools Inc is a chain of nursery and primary schools delivering high-quality education for just $5 a month (on average).

  • Active
  • Exited

Our investment

At the end of 2013, CDC invested $6 million to support the company’s plans to expand to more countries throughout Africa, as well as in India. We subsequently invested a further $1.6 million.

We invested alongside the IFC, a member of the World Bank Group, and other investors including the Chan-Zuckerberg Initiative, Bill Gates, NEA and the Omidyar Network.

Our investment will enable Bridge to bring quality primary education to over 1 million children on the poverty line.

Impact

Environmental and social aspects

CDC and other investors, with the support of external advisors, have been working with the company to explore ways to overcome some of the environmental and social challenges of operating in remote and low-income settlements. This includes completing a water, sanitation and hygiene (WASH) study for Bridge schools.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, East Africa, West Africa
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Education
Website:
http://www.bridgeinternationalacademies.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
December 2013
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$7m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
USA

We are invested in Newglobe Schools Inc through Novastar Ventures East Africa Fund I LP, which is managed by Novastar Ventures Limited.

We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, CDC takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, East Africa, West Africa
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Education
Website:
http://www.bridgeinternationalacademies.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Novastar Ventures East Africa Fund I LP
Fund Manager:
Novastar Ventures Limited
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
March 2014
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
USA

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