Education impact investments continue to outperform national average matric results
Cape Town, 17 January 2019: Old Mutual Alternative Investments (OMAI), Africa’s largest private alternative investment manager, is proud to announce 2018 matric pass rates of 94.4% (up from 92% in 2017) at the 11 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 78.2%. Despite an incremental year-on-year improvement in national average pass rates, access to tertiary education remains an obstacle in South Africa’s education system as evidenced by last year’s average bachelor pass rates of just 33.6%.
OMAI funded schools take a long-term view of success, focusing on readiness for tertiary education and aiming to equip learners with the necessary skills to succeed in their career and life, far beyond school. Four out of the 11 OMAI funded schools achieved perfect matric pass rates: Princess Park College and Royals Alberton in Pretoria; Meridian Cosmo City and Meridian Pinehurst in Johannesburg all achieved 100% pass rates. All of these schools also achieved bachelor pass rates above 65%, with Pinehurst topping them at 84.3%. Consequently, all of these learners are eligible to be accepted to study at a tertiary university.
Some outstanding results from students at Princess Park College include:
- Kelebogile Mothebo - 4 Distinctions in Business Studies, Economics, Life Orientation and Mathematical literacy. She joined the school in 2016 and would like to pursue a teaching career.
- Obakeng Pedinyane- 3 Distinctions in Physical Sciences, Life Orientation and Afrikaans. He will be studying aerodynamics at the University of Pretoria.
- Jeniel Petersen - 3 Distinctions in Afrikaans, Life Orientation and Business Studies. She will be studying Law at the University of Pretoria.
OMAI’s Schools Fund, the first and largest education impact fund in South Africa, was launched in 2011 with a mandate to improve the quality and access to affordable education for lower income families largely in inner city communities. To date, the fund has committed over R1.4bn (USD 104 million) in affordable education across South Africa, providing access to quality schooling for 18,600 learners in 34 schools across the country and employing over 1,400 teachers.
Zom Chizura, Head of Impact Funds at Old Mutual Alternative Investments (OMAI), said: “We’re very proud to see another year of fantastic matric and bachelor results in the schools where we have made investments. The performance of these schools demonstrates just how great an impact we can make when our funds are teamed up with visionaries in private sector education.
These results also highlight the role our impact funds play in addressing South Africa’s education needs, while still yielding attractive returns for our investors. Our mission is to enrol up to 30,000 students, which is especially important in South Africa with its young and fast-growing population.”