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Mary Okello Pocketed Ksh. 930 Million in Makini Schools Sale

Dr Mary Okelo takes a photo with some of her former Students from Makini School now in U.S.A for further studies

Mary Okello pocketed at least Ksh 930 million in the sale of her 71% stake in Makini Schools to Scholé Limited and Advtech in May this year.

According to Business Daily, Johannesburg Stock Exchange listed Advtech revealed the amount paid to purchase Makini Schools in its financial results for the 6-months period ending June 2018.

Mary and Pius Okello’s started the school which now holds more than 3,000 students in founded more than 4 decades ago.

According to the filings, Advtech is also holding a stake in Crawford Schools which is opening in Nairobi in September 2018 at the Tatu City. Crawford will be admitting kindergarten to A-Level as well as offer boarding facilities for students.

Mary Okello started Makini Schools as Riara Gardens School with just 8 students in the nursery who were housed in a colonial bungalow where Dr Mary and Pius Okello lived.

The purchase of Makini Schools by Advtech and Scholé has seen the number of international schools rise with the new entrants angling to snatch the pie from Brookhouse, Peponi, Braeburn, Potterhouse, Banda, Brookhurst, Gems, Hillcrest, Rosslyn Academy, Kenton and St Andrews Turi.

IMG

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Written by Kahawa Tungu

Email: news@kahawatungu.com

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