Stadio to build new campus near Cape Town
Stadio, the JSE-listed investment holding company that focuses on investments in higher education institutions, is set to develop a new and comprehensive campus outside Cape Town at Phesantekraal in Durbanville after finalising a transaction for a site of 7.8 hectares.
The company – in a written statement – said it aims to start with this development by March 2019 and to have the campus up and running by February 2021.
Stadio CEO Dr Chris van der Merwe said that the ultimate vision of Stadio is to create a multiversity for 100 000 students.
“We believe that there is ample room for expansion as 100 000 students will only be 5% of the total higher education market in South Africa.”
This new campus will supplement newly constructed Stadio facilities at Musgrave in Durban, Montana in Pretoria and Waterfall in Midrand.
The new Phesantekraal campus coincides with the accreditation of Stadio’s first doctoral degree in Business Administration (DBA) with a further two doctoral degrees in the offing.
Stadio listed on the JSE in October 2017 with approximately 13 000 students. The company said it has the potential to reach 30 000 students in 2018, considering that acquisition targets for 2017 were fully met and keeping in mind that there is also an intake at the beginning of the second semester of 2018.
According to Stadio’s prelisting statement, a target of 56 000 is set for 2026.
Stadio currently provides access to 54 accredited programmes with a further 44 programmes being in the pipeline.
Van der Merwe said Stadio currently carries almost no debt as the gearing of the company is less than 2% and “this paves the way to fund further acquisitions and greenfield developments with debt”. Source : Fin 24