©Cathy Yeulet via 123RF
In a landmark empowerment partnership deal, Sphere Holdings (Sphere) will acquire a 22.5% stake in Pearson South Africa Proprietary Limited (Pearson South Africa). The Sphere transaction together with the Pearson Marang Education Trust’s 2.5% holding raises Pearson South Africa’s black ownership level to 25%.
Pearson South Africa is a subsidiary of Pearson plc, the world’s largest education company. Sphere is an established black-owned and managed investment holding company. They have a highly successful track record as an active long term investor in local and multinational companies. Sphere provide critical infrastructure and social and industrial goods and services to South and southern Africa.
Digitally enabled learning environments
Sphere director and new Pearson SA board member Marang Denalane said: “While South Africa is making massive investments in education as a national priority, we are not seeing the quality outcomes we should expect. This can and must change fast.
Already, the so-called 4th industrial revolution – the digitised economy – is becoming a reality for our workforce. So it’s vital that we mobilise the best education content and teaching practices. By doing so, we will equip millions of South African learners with the education they need to get jobs, compete globally and reindustrialise our economy.
This starts with traditional textbooks, teaching, and systems, and will evolve into increasingly digitally enabled learning environments – as we develop the classrooms of the future. We look forward to working with Pearson to adapt their unparalleled global education expertise, content, and services. Together, we can meet the needs of South African learners, teachers, education departments and schools.”
Denalane added that Sphere would work with Pearson SA’s board and management to develop and deliver a sustainable growth strategy. This collaboration will build deeper relationships with key clients and education stakeholders. It will also bring new leadership talent into the business while supporting their mentoring initiatives.
Commenting further on the partnership, Ogden said: “Although publishing forms a core part of our business, we are looking to expand and enhance our managed services and digital offering – particularly in the public education sector. This partnership with Sphere, as a ‘home-grown’ investment company, will enable us to continue to grow our business in this sector and to positively impact many thousands of learners across the country.”
“When Sphere was formed, one of the key strategic pillars was supporting education, empowerment, and development in South Africa. We are confident that we will bring the same commitment and drive to our partnership with Pearson,” concluded Denalane.