Responding to the impact that the significant turmoil and political unrest of the 1990s had on education, visionaries Phuti Ludwick Sekoakoa and the late Herbert Maduke Ncube established the BASA Tutorial Institute in 1992. The institute was initially established to assist learners who were forced to sit for exams without any formal teaching, but given the need in the community, it was transformed into a full-fledged school by 1993.
Located in Soweto, Protea Glen, the school emerged as a beacon of hope for learners who were forced to learn under challenging conditions. Despite facing considerable hurdles, including financial barriers to developing infrastructure, the founders' determination set a strong foundation for future growth.
Recognising the Investment potential of BASA Schools, Old Mutual Alternative Investments stepped forward in 2011 through its Schools and Education Investment Impact Fund South Africa (SEIIFSA). This partnership, formalised in 2012, became a pioneering venture, marking the first 100% black-owned SEIIFSA partnership. SEIIFSA invested R60 million into expanding and upgrading BASA's schooling infrastructure. Facilitating the renovation of BASA Protea Glen Primary School and the greenfield development of BASA Protea Glen Combined School, creating capacity for 2,860 learners across both campuses.
The involvement of Old Mutual Alternative Investments extended well beyond financial contributions as Old Mutual Alternative Investments representatives were appointed to sit on the BASA boards. Strategic support at a board level significantly strengthened BASA’s governance, financial management and human resource capabilities. Specifically, the partnership improved fee collection processes, lowering default rates dramatically from twenty percent to five percent.
The partners effectively collaborated to secure annual government subsidies and introduced systemic testing in the schools to improve academic outcomes. Given the maturity and strength of the business operations Old Mutual Alternative Investments facilitated BASA securing commercial debt to fully repay SEIIFSA’s capital, 6 years ahead of forecasted. This marks a significant milestone as BASA will retain 100% ownership of their business.
BASA’s academic results speak volumes about the success of this partnership and BASA’s commitment to academic quality. The BASA Schools are top-performing institutions, consistently achieving high academic standards. In 2017, the first matric cohort recorded a 93% pass rate and a 38% bachelor pass. With continuous academic interventions, the Bachelor pass rate has steadily increased over the years to the current 72% in 2024.
Beyond academics, the Old Mutual Alternatives-BASA partnership has positively influenced local communities by promoting job creation and supporting local SMMEs in sectors such as cleaning, security, gardening and uniform supply, significantly boosting the local economy. Today, BASA operates five campuses in Johannesburg, educating approximately 6,500 students and employing 140 staff members. Remarkably, the schools charge the lowest school fees within the SEIIFSA portfolio, highlighting their commitment to affordable, quality education.
The transformative impact of the partnership is exemplified in stories like that of alumnus Rendani David Mashapha, who overcame personal challenges to fulfil his dream of becoming a pilot, a goal that once seemed unattainable. Similarly, SEIIFSA’s 2024 top matric performer Katlego Senosi, hailed from BASA Combined. He was also the top achiever of independent schools in the Johannesburg central district, having achieved 98% in Mathematics and an overall aggregate of 89.6%. He is now pursuing a Bachelor of Medicine and Surgery degree at the University of Cape Town, proudly attributing his success to the support provided by BASA Schools.
As Old Mutual Alternative Investments and SEIIFSA celebrate their successful exit from the partnership, BASA Schools stands firmly as sustainable, financially robust institutions, fully equipped to continue delivering quality and transformative education. This collaborative journey shows how strategic partnerships in education can nurture excellence and empower communities, ensuring that the legacy of quality education endures for generations.
Established in 2011 SEIIFSA is the first education impact fund in South Africa and channeled ZAR 1.4 billion in commitments into upgrading and building independent schools in the affordable market. Old Mutual Alternative investments also manage a second Education Fund, Education Investment Impact Fund (EduFund). A ZAR 1.5 billion fund which was established in 2020. In total the two Funds currently invest in 43 schools with more than 24 000 learners across South Africa.