A group of Kenyan investors, represented by Heri Holdings Limited, has received approval from the Competition Authority of Kenya (CAK) for the proposed acquisition of the buildings and physical infrastructure hosting Nova Schools in Tatu City. Here is an analysis of the key points:

Key Points:

  1. Acquisition Approval:
    • The CAK has approved the proposed acquisition of the entire issued share capital of Nova Academies Tatu City Property Limited by Heri Holdings Limited.
    • The acquisition involves the buildings, land, and related infrastructure hosting Nova Schools in Tatu City.
  2. Entities Involved:
    • Nova Pioneer Kenya Limited, an entity that operates seven private schools, currently leases the premises in Tatu City.
    • Heri Holdings Limited, the acquiring entity, is set to buy the property hosting Nova Schools.
  3. Deal Coverage:
    • The deal covers the buildings and physical infrastructure in Tatu City, and Nova Pioneer will continue to occupy the facilities as a tenant of Heri Holdings.
  4. Heri Holdings Background:
    • Heri Holdings Limited was founded in 1974 as an investment company by Jomo Kenyatta-era politicians, businessmen, and civil servants.
    • The company owns, finances, and manages investments in real estate and infrastructure assets.
  5. Deal Value:
    • The actual value of the deal was not disclosed by the CAK, but it is noted that the combined assets of the two entities exceed Sh1 billion, requiring regulatory approval.
  6. Previous Acquisition Attempt:
    • This marks the second attempt to acquire Nova Academies. In 2018, South African property developer Summit Real Estate Proprietary Limited made a bid but withdrew from the deal for undisclosed reasons.
  7. Continuity of Nova Schools:
    • The CAK emphasized that the proposed transaction only involves some assets of the school, specifically buildings, land, and related infrastructure.
    • Nova Schools will continue to operate normally with no transfer of its programs, brand, and related assets such as students, teachers, and other employees.


The approval of the acquisition allows the group of Kenyan investors represented by Heri Holdings Limited to proceed with acquiring the premises hosting Nova Schools in Tatu City. The continuity of Nova Schools and the retention of key assets, programs, and personnel ensure a smooth transition under the new ownership. The deal represents a strategic move in the real estate and education sectors within the context of Tatu City. It might just be enough to help Nova escape some of the troubles we’ve seen in the education sector, not like Isongo issue but close.