Academy of Learning’s listing on Nomu drives growth, expansion: Chairman

Logo of Academy of Learning Co.

Academy of Learning Co.’s (AOL) listing on Nomu-Parallel Market helps it establish strong presence in larger markets, carry out new expansions in the Kingdom’s major cities and develop a corporate governance system, Chairman Khalid Al-Ammar said.  

AOL’s education and training centers are concentrated in the Eastern Region. The company is working on opening new branches, Al-Ammar told Argaam in an exclusive interview, adding that Riyadh will be the first target city.  

The new expansions will be backed by the company’s strong track record, and sufficient cash without debts.  

Here’s the full interview with Al-Ammar:  

Q: Can you give some insight on Academy of Learning and commencement of operations?

A: The beginning was in 2004, when an individual institution was established with SAR 100,000 capital. The institution had just one branch and two study halls with no more than 30 students.

In 2021, the institution transformed into a joint stock company with capital of SAR 60 million. It had 12 education and training institutes and centers, which were all licensed and accredited by the Ministry of Education and the Technical and Vocational Training Corporation (TVCT). These centers and institutes provided 81 study halls with over 4,300 students enrolled.

The company also owns an e-learning platform that accommodates more than 20,000 students. The portal is licensed by the National eLearning Center (NELC).

Q: Are AOL’s training and education program outputs appropriate for the labor market?

A: In Academy of Learning, we have a job qualification center. It focuses on the journey of students from the first day of enrollment. Through this center, AOL students are guided to select the best specialization for their skills and capabilities. It also helps these students get suitable job opportunities after graduation.

Additionally, AOL organizes job forums, which receive a strong turnout from employers looking for national cadres to achieve the Kingdom’s desired Saudization rates.

The company has strongly believed in the idea of Saudization for a long time, which reached nearly 90%, a percentage that is difficult to achieve in the education and training sector. Therefore, Academy of Learning won the award of Saudization in education from the Ministry of Human Resources and Social Development.

We have an exemplary record of graduates who worked in a large number of companies. In addition, the company holds two ISO certificates, the first in total quality management (TQM), and the second in the educational organizations management system (EOMS).

Q: What is purpose of listing AOL shares on Nomu?

A: The purpose of listing on Nomu is to enter larger markets, expand in the Kingdom’s major and semi-major cities, and develop a corporate governance system in line with our aspirations. In addition, we seek to preserve the interests of shareholders and increase their equity in the coming years through achieving strong profit growth and sustainable cash dividends.

We are pleased that Academy of Learning is the first training and education company to be listed on Nomu. We also hope to achieve the aspirations of our valued shareholders. After listing, we will embark on a new journey of ambition and achievement.

We also consider that the company’s real capital is the competencies it built, especially the employees who overcame all obstacles in the way of the firm’s success. Therefore, some employees and managers were given shares as a token of loyalty to appreciate their efforts in the company’s journey of success.

Q: What about the company's expansion plans?

The company is currently the largest training company in the Eastern Region, as it is the only one with branches in Dammam, Khobar, Qatif, Jubail and Al-Ahsa, as well as in terms of student count. We have a work system that achieved success even in crises. We are currently striving to export this successful model to some Saudi regions, through plans to expand branches in the Saudi cities for the company itself or by granting franchises to others to open branches in areas we do not currently target. The new expansions will begin with Riyadh.

Academy of Learning also obtained an e-learning license from the National E-Learning Center, which will help our services spread widely and reach a larger number of customers across the Kingdom.

The expansion plans are based on the company's strong liquidity rather than borrowing. The learning services provider does not have any debts currently.

Q: How was COVID-19 impact on AOL?

A: The COVID-19 pandemic has a positive impact on the company’s performance. We pride in our management team that shows high flexibility to deal with market changes, such as keeping up with the latest developments in the field of education technologies, where the company has niche investments. The company also launched its e-learning platform before the pandemic.

Accordingly, upon the COVID-19 outbreak, all learning programs were shifted from physical presence to our e-learning portal in a record time.

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