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Rest of Africa lifts JSE-listed ADvTECH in full year performance

By , Africa editor
Africa , 27 Mar 2023

Private education provider ADvTECH, which is listed on the Johannesburg Stock Exchange (JSE), today reported strong growth of its Africa division, lifting the group in financial year 2022 ended December.

ADvTECH says its school brands in the rest of Africa continue to experience strong enrolment growth and are operationally sound.

The private education provider has a diverse family of businesses, including 18 education brands and 26 brands in total. It also encompasses over 152 education, training and recruitment sites across Africa.

School brands under the ADVTECH group include Crawford schools, Pinnacle Colleges, Abbotts College, Junior Colleges, Maravest, the Bridge Learning Assisted school, Gaborone International School and Makini schools.

A number of ADvTECH schools, including Crawford and Makini, have implemented future-tech (GoLab) spaces in which students are able to grasp an understanding of new technologies and artificial intelligence by developing their skills in robotics, drones and other fourth industrial revolution technologies.

The company says its success in using technology to deliver data-driven insights and learning analytics, helps students have a unique learning experience while constantly improving their understanding in core areas.

“The strategy to expand into the rest of Africa continues to pay dividends. The resourcing division continues to increase its presence and number of placements across 19 countries on the continent, with the bulk of its revenue and operating profit being generated outside of South Africa,” says ADvTECH.

In the year, revenue from the Africa division increased by 25% to R334 million (2021: R268 million) and operating profit increased by 69% to R80 million (2021: R47 million) with the operating margin improving from 17.7% to 23.9%.

The shining star in the group was Gaborone International School, which ADvTECH says continues to perform exceptionally well with strong enrolment growth and market leading academic results.

It notes: “The students achieved a 100% pass rate in the International General Certificate of Secondary Education (IGCSE) exams and averaged three distinctions per candidate, with 16% of students in the class achieving full house As.

“The quality of the offering has led to strong demand and capacity is being increased to accommodate 3 000 students. Phase one of this expansion, which included the development of a state-of-the art science and technology centre, was completed in 2022 with phase 2 currently underway.”

Further, ADvTECH says, capacity was increased during the year at Crawford International School in Kenya, as the school continues to experience ‘strong demand’ owing to its ‘market leading academic offering’.

According to ADvTECH: “Of the final year students completing their A-Level qualifications at the school, 95% have been accepted into international universities in the US, UK, Europe, Canada, Hong-Kong, Asia and Australia.

“Furthermore, 19% of the year’s students achieved ‘full house As’, while one student was the top ranked scholar for French in Kenya.”

Looking ahead, ADvTECH says, demand for quality education remains high and it will continue to strengthen its competitive advantage by delivering value in the provision of quality education.

“We are determined to continue with this approach to optimise our performance in both South Africa and the rest of Africa.

“Our revised structures and improved systems have not only realised efficiency benefits, but have also enabled us to be agile and responsive in dealing with both unforeseen challenges and a difficult socio-economic environment.”

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