UNICAF, a Cyprus-based company that aims to increase affordable higher education opportunities in Africa, has raised $12 million from CDC group, a development finance institution backed by the U.K. government, along with U.S.-based University Ventures and Savannah, a Nairobi-based investor. Founded in 2012, UNICAF partners with Western universities to offer online, accredited undergraduate and graduate degrees serving more than 8,000 students. The funding will expand these offerings and establish a university campus in Malawi.
