Tuesday, July 2, 2024

Gachukias: Meet little known billionaire who own The Riara Group of Schools

To the well-informed, mentioning the name Riara Group of Schools effortlessly brings a sense of delight, and epitomizes one’s appreciation for the fine things in life.

The Riara Group of Schools broke the internet after producing Kenya’s top student in the final KCPE exams. Michael Warutere scored 428 marks, closing the chapter on the 8-4-4 curriculum, ushering in a new age of learning.

The story of the school’s establishment dates back to 1974 when it was merely a Kindergarten. At this time, Dr. Eddah Gachukia and her husband Daniel Gachukia were interested in the acquisition of Balmoral Kindergarten.

Co-Op post

The power couple met at Railways Station in Nairobi in 1953, as they were both leaving Kenya for a Diploma at Makerere University in Uganda. They started a conversation, developed a close friendship, and started dating before tying the knot 4 years later.

Together, they have 4 children; Suzanne Gachukia Opembe, Juju Gachukia Muthama, Alan Gachukia and Tony Gachukia.

Balmoral Kindergarten was a learning centre that admitted children of expatriates. It was owned by an English lady, and African kids were not allowed to join the school.

It was located on Balmoral Road, which was later renamed Riara Road after the Gachukias acquired the institution. From humble beginnings, the school has grown to have two primary schools, a girl’s secondary school and a University based in Nairobi.

The Riara Group of Schools are now a big player in the Kenyan education space. Speaking to a digital media outlet, Prof. Eddah Gachukia explained that it has not been an easy journey in building the school to its current excellent standards.

NCBA

“My faith; faith in God and in things I have not seen. Faith that is not shaken. In business you fail a lot, let us not imagine that success is always a graph going up,” she said.

“Sometimes you don’t succeed and you have to go back to the drawing board.”

Billionaires Behind Top Prestigious Schools in Kenya

NCBA

School Partnership

Sweden’s Actus Education Holdings AB, a private equity firm, acquired a 22.32% stake in the Riara Group of Schools in 2019. Reports indicated that the cost of the transaction remained undisclosed.

The Gachukias, in a memo addressed to parents, explicitly confirmed that the deal was not a full acquisition but rather a partnership.

It indicated that the family would still retain their management roles, with the Gachukia’s children, Juju Muthama and Alan Gachukia as executives in the new management.

“By partnering with Actus, we have the opportunity to take our vision further and to expand our quest for the highest standards of education for Kenya,” Daniel Gachukia said.

A statement from Daniel Anderson from Actus Holdings underscored their dedication to school expansion and investment in enriching the learning experience.

“We feel honoured to work with the Gachukia family to continue the legacy and to achieve the shared vision,” he indicated.

“We will also invest heavily in curriculum enhancement leveraging on IT, state-of-the-art teaching methodology, robotics, cultural activities and co-curricular resources.”

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