GulfCap Investments Bank has entered into a strategic Sh2.1 billion partnership with real estate equity firm Heri Investments to enhance the growth of Nova Pioneer schools in Kenya. The financing agreement, announced on Monday, is structured to comply with Islamic finance principles.
As part of the deal, GulfCap will invest its sharia-compliant funds into Heri Tripple Net Investments LP, a limited partnership managed by Heri Investments. The capital will go towards acquiring equity in two companies that own Nova Pioneer campuses in Tatu City, which are jointly valued at Sh3.23 billion.
Nova Pioneer, which currently operates 15 schools across Kenya and South Africa, is known for its emphasis on holistic learning, innovation, and leadership development. The new investment will support the expansion and upgrading of its facilities in Kenya.
Heri Investments has already injected Sh1.13 billion into the initiative through its subsidiary, Heri Holdings.
Investors in the partnership are projected to earn a combined annual return of 14.24% over the 10-year investment term. The returns will come from both dividends and capital gains.
GulfCap CEO Saud Shahbal said the move is aligned with the bank’s goal of offering ethical, impact-driven investments to its Islamic finance clients.
“Our objective is to unlock value through investments that are not only profitable but also support community development,” Shahbal said.
Heri Investments CEO James Kaniaru highlighted that the project merges educational progress with sustainable financial returns.
“This is an opportunity to create lasting impact in Kenya’s education sector while delivering value to investors,” he said.
