Standard Bank has extended a $22 million multi-currency debt facility to Enko Education, to support the pan-African school group's acquisition strategy. Standard Bank acted as sole mandated lead arranger and lender on the package.
Enko operates international schools across multiple countries, serving students with a Cambridge and International Baccalaureate curriculum. The debt was first disclosed in February as part of a $46 million funding round that also included $24 million of equity led by Africa Capitalworks and Adiwale.
MULTI-CURRENCY STRUCTURE
The facility is multi-currency, and Standard Bank said it drew on its balance-sheet capacity for both local- and foreign-currency funding. The bank said the deal involved cross-border coordination across South Africa, Kenya, Mauritius and the Isle of Man.
Enko plans to deploy the funds for acquiring schools across multiple African jurisdictions, expanding its footprint and adding capacity for additional students.
ENKO'S GROWTH PLANS
Enko, founded in 2013, aims to consolidate its presence in Africa's fragmented private K-12 education market, according to Togo First.
Enko aims to reach 20,000 students by 2029.
STANDARD BANK'S ROLE
Standard Bank said the package reinforced its commitment to supporting scalable, high-impact businesses across Africa.
REGIONAL EXPANSION BREAKDOWN
Enko already operates 16 schools across 10 African countries and plans further acquisitions. Standard Bank said it structured the deal rapidly in response to the client's needs.
Standard Bank said the transaction reflected both institutions' focus on building sustainable, pan-African education platforms that expand access to globally recognised pathways for students across the continent.