New Makini School owners, Scholé, are reportedly kicking out some students in their school over operational space crisis which has hit the school one year after the takeover. Makini group of schools was founded in 1978 by Dr Mary Okelo along with her late husband Dr Pius Okelo from Nyakach. It has 8 schools on 4 campuses in Nairobi and Kisumu, with 3,200 students from Kindergarten to Grade 12, at the time of the takeover. Students pay at least Ksh250,000 per year, making it one of the most expensive schools in the country.
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According to a document, the owners are also mulling the idea that parents build a new school, and rent it to them.
Scholé bought the school from the Okelo family, with investment from AdvTech, a school operator based in South Africa early 2018.
However, Scholé claims that they only bought the school (name), and not the land and structures hence leaving the school in a fix on where to run their business. The document further indicates that they are not sure of getting funding from their sponsors, AdvTech.
“The Okelo family retained ownership of the land and buildings – they are our landlord and we pay her rent. The State House property was not included in the long term lease – the Okelo family had other (non-educational) plans for the site. However, they were willing to rent it to us separately, initially to December 2018,” reads part of the document.
The company, Scholé, pays for the lease every year, and the current lease expires in December this year, which will leave the owners with just the name, threatening a business collapse, as the management admits that they might not find a solution that accommodates all parents and their students.
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Mary Okello who is the sister of Uncle Moody Awori 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 [B]the filings[/B], 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.
https://www.kahawatungu.com/2018/09/03/mary-okello-pocketed-ksh-930-million-makini-schools/