Top private school put under corporate rescue

Top private school, Knowstics Academy, has been placed under corporate rescue as part of efforts to revive its operations and restore its reputation in Zimbabwe's competitive education sector.

The authorities have appointed Budhama Chikamhi as the school's corporate rescue practitioner, effectively replacing the existing governing body. This move aims to stabilize the institution and guide it back to its former position as a leader in the education field.

In a circular released on November 21, 2024, Chikamhi informed stakeholders of the strategic changes and measures that would be implemented to ensure the school's revival. One key decision was to reintroduce the Form Two stream, which had previously been removed by the former governing body. As of January 2025, students will once again progress through Form Two before advancing to Form Three, in compliance with the Ministry of Primary and Secondary Education's regulations.

Chikamhi also addressed the issue of the school's utility services, confirming that electricity, which had been disconnected, has now been restored. This will ensure a better learning environment for students and staff alike.

Another significant development is the reinstatement of commercial and arts subjects at the Lower and Upper Six levels. These subjects had been eliminated by the previous management but will now be offered again starting January 2025, providing students with a broader range of academic choices that align with their career goals.

As part of the rescue plan, Chikamhi has appointed a three-member technical committee led by Fredrick Hamadziripi, a respected educationalist and chairman of the Legal Undergraduate Programmes Department at the University of Zimbabwe. The committee's role will be to oversee the reorganization and implementation of academic and administrative reforms at Knowstics.

Chikamhi also emphasized the importance of engaging with key stakeholders, including banks and parents, to ensure the school's smooth operation. This collaborative approach is expected to strengthen the institution's financial position and restore confidence among its stakeholders.

The corporate rescue initiative is designed to provide a temporary reprieve for the school, offering a moratorium on all writs of execution and court processes. This will give Knowstics Academy a chance to recover and avoid potential liquidation, preserving its status as one of Zimbabwe's top private schools.

The move has been welcomed by many, as it presents a clear path toward revitalizing the institution, ensuring that it continues to offer quality education to future generations of students.