Matric pass rates for 2017 reached 92% at the 10 schools invested in by OMAI’s Schools and Education Investment Impact Fund (Schools Fund) team; this is compared to South Africa’s national matric pass rate of 75.1%.
The average bachelor pass rate of 42.8% also comfortably exceeded national average pass rates of 28.7%.
OMAI’s Schools Fund Team administers the investment, leaving the schools in the hands of independent operators who share its commitment to providing affordable quality education in some of South Africa’s traditionally most underprivileged districts.
The Schools Fund aims to reach over 50,000 learners by 2027 delivering both a social and risk adjusted return on its investment.
Lala Steyn, Head of OMAI’s education impact fund team, said:
“That two of our schools managed to achieve 100% pass rates indicates just how great an impact we can make when our funds are teamed up with visionaries in private sector education.
“We have provided our great teaching and facilities in our schools, but it’s the students’ own motivation and hunger for educational success that is the most important element in these inspiring results.”
Under its Schools Investment Fund programme, OMAI is building brand new schools. But it is also renovating and extending existing school buildings, improving their overall appearance and function by, for example, adding sports facilities and sports grounds, and by making access to buildings and grounds more secure.
OMAI’s education impact fund of R1.4bn is now fully invested and it is raising further funds towards meeting its ultimate goal of enrolling up to 40,000 school students from less privileged backgrounds.