A NEW independent, low-fee school has opened its doors to give good-quality education to underprivileged kids in the Thokoza area.
The Schools and Education Investment Impact Fund of South Africa, the Royal Schools Management Company and housing developer Cosmopolitan Projects officially launched the latest school in the Royal Schools group, Royal Schools Alberton, on 9 March.
The school forms part of an R80-million deal funded by the Public Investment Corporation (PIC) acting on behalf of the Government Employees Pension Fund (GEPF) and Old Mutual for the development and operation of three low-fee independent schools over a five-year period.
This school is one of four of its kind to address the shortage of affordable schools in South Africa. The dual objective of this R1,2-billion fund is to finance education infrastructure and other education-related requirements while delivering commercially acceptable returns to investors. A total of R1- bn has already been allocated for education projects throughout South Africa.
“Offering quality education at affordable fees is the essence of the schools investment fund mandate,” says Lala Steyn, asset manager from Old Mutual Alternative Investments. “The launch of this school is a reiteration of the common vision of a group made up of investors, educationalists and a management team who are committed to the development of affordable, quality schools that cater for a broad base of underprivileged children,” she says.
Under educational specialist and businessman Dr Bennie Fourie, the Royals Management Company, has been tasked with renovating and expanding a number of existing inner-city schools in Pretoria as well as developing a new school in Gauteng.
The launch event started with a welcome from the principal of the new school, N. Bodley, followed by the school choir singing some songs, and some speeches by role players in the project, such as Dr Bennie Fourie, managing director of Royals Management Company.
Also read:
*albertonrecord.co.za/95530/new-uniforms-for-learners/
