Training academy acquired to propel growth
NetEd acquires SYTA
SOUTH AFRICA: NetEd has propelled itself into the maritime training space with the acquisition of the Cape Town-based Superyacht Training Academy (SYTA), which offers internationally accredited complete training for professional yacht crew.
Ben Shaw, M&A Executive at NetEd, says that the investment represents a key opportunity to broaden education options and improve the employability of students. NetEd is backed by EXEO Capital and currently serves over 23,000 students across South Africa through institutions like Eduvos, Isa Carstens® Academy, and Stellenbosch Business Institute.
According to a statement from NetEd, the company is working closely with the SYTA team to meet the anticipated increase in demand for crew members such as stewards, stewardesses, deckhands and chefs. Successful completion of SYTA’s courses provides excellent prospects for employment anywhere in the world where superyachts operate.
“We were impressed by the calibre of SYTA graduates, and we believe SYTA’s holistic training shapes strong working professionals with highly transferable skills. These skills include teamwork, problem solving, decision making, resilience and adaptability – all critical for an AI-enabled world. There is lasting value in this form of practical, globally relevant education and so the choice to invest was both intuitive and decidedly future-forward,” says Shaw.
SYTA is strategically positioned at the V&A Waterfront, SYTA will benefit from the growing interest that the region is seeing from superyachts as well as the development of the V&A’s proposed new superyacht basin which includes six dedicated superyacht berths.
With a new cohort of tourists being attracted to South African shores, this will in turn provide the regional economy with a welcomed boost and a renewed impetus for the Blue Economy. As CEO of SYTA, Stuart Loxton explains: “The status of the V&A precinct continues to grow, and its working dock facilities are indicative of the quality and expertise that the local maritime industry has and can build.”
“By its nature, providing top-level hospitality on superyachts is hard work with commensurate pay. Most junior crew stay in the industry for three years so there is massive demand for new crew every season. The choice to work both seasons - in different hemispheres - is the individual’s. We highly recommend doing this to secure tenure. Ultimately, graduates return to South Africa with experience, skills, confidence, and savings,” says Loxton
PHOTO: Yachts in Cape Town. (© Adobe Photostock Licence)
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