Change of ownership for Monash South Africa
Monash South Africa (MSA), a joint venture between Laureate Education Inc. and Monash University, is to be sold to The Independent Institute of Education (The IIE), South Africa’s largest private higher education provider and a wholly owned subsidiary of the publicly listed ADvTECH Group. Ownership of the campus is expected to be transferred by the end of 2018.
MSA has operated as a joint venture between US-based majority owner Laureate Education (75 per cent) and Monash University (25 per cent) since 2013. In 2017, both Monash University and Laureate agreed to explore the possibility of concluding the joint venture, having determined that the next phase of development of the campus would be best managed under custodianship of a local operator better suited to operate in the South African education market.
The IIE operates across 21 sites in South Africa offering registered and accredited higher education programmes from Higher Certificate to Masters level at its Varsity College, Vega, and Rosebank College campuses and 35,000 students at Higher Education level.
Under the future operator the campus will continue to develop innovative, market-aligned programs for its 4000-strong local and international student population.
The interests of students who are enrolled in Monash programs are of paramount importance to the University. Monash University and Laureate will work closely with The IIE through the transition and integration process to ensure a seamless and uninterrupted experience for MSA students, staff and other key stakeholders.
The transfer is expected to be completed by the end of 2018 after regulatory approvals in South Africa, including from competition authorities. Subject to these approvals, The IIE is expected to become the operator of the campus in early 2019. No further intakes into programs offered in cooperation with Monash University will occur after Semester 1, 2019.
Current programs at MSA will be taught out by arrangement with The IIE. Programs offered in cooperation with Monash University will be taught until the end of 2022. Students presently enrolled at MSA will be supported to complete their qualification.