eAdvance Proprietary Limited
Region and country of operations: Africa, South Africa
Jurisdiction of registration: South Africa
Business sector: Education
Date of agreement (month/year): 10/2020
Finnfund’s financing: USD 5,200,000
Share of Finnfund’s financing: 32%
Size of project/financing: USD 16,400,000
Environmental and social category: B
The company provides affordable, high quality K-12 education in South Africa. Through a combination of teacher-led instruction and online learning, rotational classroom set-up, and strong emphasis on educators’ professional development, SPARK Schools provides the best standards of education at a competitive price accessible to the many. The company has grown to become the 3rd largest network of private K-12 schools in South Africa, operating 18 institutions and serving over 10,500 families from diverse social & cultural backgrounds.
Main development impact
South Africa is faced with a severe learning crisis. Although the nation ranks high in education spending, the learning results of its public schools are worse than in many other countries in Sub-Saharan Africa.
SPARK schools are affordable to South Africa’s large lower middle-income population. The annual tuition is lowest among quality private schools. While students benefit from quality education and improved learning outcomes, South African education system benefits from improved capabilities of teachers, innovations in affordable pedagogical approaches, as well as increased provision of basic education to meet the growing demand.