Transaction Summary
On 21 November 2024, Tana Africa Capital, a Mauritius-based investment firm, and Morocco-based Saham Group completed the sale of their combined 85% stake in Flipper International School (FIS) to ADvTECH Group, a prominent South African private education provider listed on the Johannesburg Stock Exchange (JSE). The remaining 15%, held by the school’s founders, Menna Selamu Bekele and Serkaddis Seifu Yeteshawork, was also sold, resulting in 100% ownership by ADvTECH. The deal, valued at $7.5 million (R135 million), allocated $6.38 million to Tana Africa Capital and Saham Group. Founded in 1998, Flipper International School operates across five campuses across Addis Ababa. In 2018, Tana Capital and Saham Group acquired an 85% stake in FIS. The funds from this investment were instrumental in financing the development of a state-of-the-art campus in Addis Ababa’s Summit area, significantly enhancing the school’s infrastructure and reputation. This sale to ADvTECH, a strategic buyer, follows Tana’s successful
