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Helping Fountain Gate Academy to improve private education in Tanzania

Founded in 2007, Fountain Gate Academy started its activities with a nursery and primary school in Dar-es-Salam. As the founder, Japhet Makao saw an opportunity he introduced a day-care service as well.

GroFin’s intervention helped the school to improve its finance department by implementing appropriate accounting software and assisted in hiring qualified staff for the department. The management information system (MIS) for the school has improved in terms of pupil academic data including results, progress, and financial reporting. MIS for the academic records is now available on a centralised school database using the reliable school software package.

Since several parents had moved to Dodoma, Japhet seized the opportunity to start a new branch there. GroFin helped the entrepreneur to formalise the land ownership of the Dodoma campus. The school also managed to get the Certificate of Right of Occupancy at the Dodoma Campus in the name of Fountain Gate Academy. As part of GroFin’s business support, we helped the school improve its architectural dining drawing to be ready for the construction of a high-quality dining hall. GroFin also recommended putting up an ICT laboratory so that students can learn ICT at a young age.

Since COVID-19 struck, all schools had to close their doors, leaving Fountain Gate without revenues from March 2020 to July 2020. Japhet explains that most parents are still in arrears on the payments for the period though they are trying to ensure payment for the new terms is paid. Fountain Gate continued salary payments to the staff during the school closure which had a significant impact on its operating cash flow. With guidance from GroFin, Fountain Gate managed to reduce unnecessary operating expenses, freeze salary staff increment, establish all health recommended infrastructure for COVID-19 precaution before reopening of schools.

“My dream for the future is to establish a special talent school and expand Fountain Gate footprint to other regions of Morogoro and Arusha,” – Japhet Makao, Founder of Fountain Gate Academy

GroFin Ivory Coast client expands digital education reach

Ivory Coast is facing challenges in catering for a rapidly rising labour force, counting 14 million workers in 2015 and poised to rise to around 22 million by 2025. As more and more workers enter the emerging economy, the issue is not so much employment for everyone, as it is to guarantee a decent wage. Indeed, an average worker in Ivory Coast earns the equivalent of US$200 a month, lower than the average in sub-Saharan Africa.

It is here that vocational education has a crucial role to play in imparting usable skills to the youth, such that they are able to secure their future and deepen their contribution to the national economy. GroFin’s clientEcole des Spécialités Multimedia d’Abidjan (ESMA), is one such vocational education provider that is using our finance and support to expand the reach of digital education in Ivory Coast, with the ultimate objective of upskilling youth across the West African Economic and Monetary Union.

Founded in 2006, ESMA is the first private school specialised in multimedia across Francophone West Africa and focuses on the provision of quality education to post-graduate students in the field of digital communicationsmultimediaaudiovisual and web development.

Licensed and regulated by the Ivoirian Ministry of Superior Education, ESMA has a total of 39 classrooms with 39 permanent teachers and 34 permanent and contractual administrative staff. The school started with 75 students in 2006 and presently has two campuses with a total student population of 900. With the acquisition of a new campus in 2016, the school has increased its capacity and can now accommodate 3,000 students.

The key entrepreneur behind ESMA is Mr Doumbia Vakaba, who is a computer engineer and has more than 25 years’ experience in the field of digital mediaprintweb services and business management. Apart from ESMA, Mr Doumbia also runs Cevenol International Primary School, triggered by his concern for the education of both youthand children. Located in Gonzagueville, Port Bouët, a neighborhood where most residents hail from the lower class, Cevenol provides affordable and subsidised basic and primary education to around 450 pupils currently.

n 2017, Mr Doumbia approached GroFin for finance and support to both refinance an existing short-term loan for the acquisition of ESMA’s new premises as well as adequately equip classrooms in the new campus to allow the school to cater for more students. Upgrading ESMA’s capacity will also enable the school to cover a second target segment of students in the regional market of the UEMOA (West African Economic and Monetary Union) zone which does not have such elite schools to offer vocational training in visual communications and multimedia.

Based on GroFin’s finance and support, ESMA will be in a position to increase its student intake for the 2018 academic year to 1,100, then 1,300 in 2019 and finally 1,500 for 2020in the medium term alone. A suitable moratorium of upto 6 months has also been provided to give the client a leeway to build and operate the requisite infrastructurebefore repayment starts, to avoid stress on cash flow.

“GroFin understood our requirements for both a longer tenor loan as well as aligned repayments with our cash flows by providing a much-needed moratorium. Their finance and support will go a long way in helping us to reach our target long-term intake of 3,000 students who will benefit from superior education and contribute at full capacity to the economic growth of our country,” says Mr Doumbia.