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2025-09-30-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30[TH] SEPTEMBER 2025

Acknowledgement and Organisation Registration Details

Published by: Education Sub-Saharan Africa

UK Charity Registration No. 1166958

UK Company Registration No. 10101086 (England and Wales)

NPOS/GRO1/LNO552/23

Ghana Company Registration No. CG034110622

Graphic Design and Layout by: Daniel Kamau, Kenya

Photos: @ESSA

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30[TH] SEPTEMBER 2025

04 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

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Table of Contents

Table of
Contents
Acknowledgement and Organisation Registration Details 2
List of Abbreviations 4
Table of Contents 5
Letter from the Chair 6
2025 at a Glance: Defning moments for ESSA 7
About ESSA 9
The Challenges We Address 9
Why ESSA Is Uniquely Placed to Make a Difference 9
Our Values 10
Equity, Diversity, and Inclusion 10
Organisational Growth and Resilience: People, Systems, Governance 11
Growing Our Impact 11
Shaping Our Strategic Path Forward 12
Impact Through Our Values 13
Evidence-Based 13
Solutions-Focused 15
Strengthening Trust 16
Always Learning 17
ESSA’s Visibility and Infuence 18
Looking Ahead: Accelerating Impact in 2026 18
Partners’ and Funders’ Spotlight 20
Financial Review 22
Financial Statements and Notes 31
Balance Sheet 32
Join Us in Shaping the Future of Education 47

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Letter from the Chair

To everyone who has an interest in ESSA and the work that we do, thank you.

together, I am filled with a deep sense of gratitude and, despite all that has been achieved, a feeling that there remains so much more to do.

It has been a landmark year for ESSA. One of considerable growth, in tangible impact, in developing our capabilities and in building resilience. Despite global funding pressures and a challenging economic landscape, our team and partners have delivered at pace, ensuring that African-generated evidence is increasingly shaping policies, practices and programmes that improve teaching, learning, and opportunities for young people across the continent.

This year, ESSA supported the establishment of the African Centre for School Leadership (ACSL) in partnership with VVOB, the consortium lead, and the Mastercard Foundation. As the ACSL research partner, ESSA contributed in expanding African education research and leadership. We also jointly awarded 31 early childhood research grants worth up to USD 15,000 each across ten African countries, empowering African researchers to develop solutions that are deeply rooted in local contexts.

From convening hundreds of educators, policymakers, and researchers in collaborative workshops, to influencing Ghana’s teacher motivation strategy and contributing to the development of harmonised guidelines for university data collection in the East African Community, 2025 was a year of turning knowledge and evidence into action and strengthening education systems across Africa.

African researchers are supported and their voices amplified, they generate evidence and influence that power change for good in education systems. Researchers such as Dr Philomena Chepsiror from Kenya demonstrate this in practice. Her study on play-based learning in Kakuma Refugee Camp shows how contextually grounded research can strengthen the psychosocial and cognitive development of children aged 0–8. Her work has informed more inclusive early childhood practices and influenced education responses for vulnerable learners. Stories like hers remind us why ESSA exists: to ensure that African talent drives African solutions.

That principle also enabled ESSA to have a smooth transition in leadership from Dr Lucy Heady to Dr Pauline Essah. Lucy has made a tremendous contribution to ESSA not least in her selfless development of the team. Pauline has stepped confidently into the role of CEO, with the humility, deep knowledge, vision, clarity, and commitment needed to take ESSA to the next stage in our development . She is well supported by a dedicated board and an agile, talented team. This transition reflects the strength and maturity of ESSA, positioning us to seize new opportunities, deepen our African-led research footprint, and drive meaningful change across education systems in the years ahead.

Looking ahead to our 10[th] anniversary in 2026, our ambition grows. We are committed to innovating boldly, expanding our work in Francophone African countries, and building lasting influential networks of African researchers and leaders. Even amid a challenging funding environment, our values: Evidence-based, Solutions-focused, Strengthening Trust, and Always Learning, will guide every initiative we pursue.

None of these achievements would have been possible without you. To our partners, funders, researchers, trustees, advisory board members, staff, and supporters, your collaboration, dedication, and belief in our mission have made 2025 a year of real progress. As we step into this next chapter, I invite you to continue walking with us: investing in research and building evidence, amplifying African voices, and shaping an education future that is evidence-driven, equitable, and transformative for Africa and the world.

With deep appreciation,

Patrick Dunne OBE

Chair, ESSA

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2025 at a Glance:

Landmark Investment in African Education Leadership

ESSA secured the largest investment in its history through the ACSL initiative funded by the Mastercard Foundation. As part of a major continent-wide programme, ESSA is playing a leading role in advancing research to strengthen school leadership systems and implementation across Africa. This milestone reflects growing confidence in ESSA’s ability to generate evidence and support reforms that improve teaching and learning outcomes on the continent.

Strengthening Global Partnerships

We also expanded its partnerships with leading global institutions, reinforcing ESSA’s role as a trusted convener and research partner in African education. The Gates Foundation renewed its support, while the International Development Research Centre (IDRC) invested in ESSA to co-lead a multi-country EdTech research consortium involving three partners. Additional collaborations with partners including Global Partnerships for Education, Echidna Giving, and Imaginable Futures further strengthened ESSA’s research and programme portfolio, enabling us to advance African-led solutions and expand our reach across the continent.

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Leadership Transition

2025 marked an important leadership transition for ESSA. In August, Dr Pauline Essah assumed the role of Chief Executive Officer, following the dedicated leadership of Dr Lucy Heady, who played an important role in shaping ESSA’s foundations, building a strong and talented team, and establishing the organisation’s regional and global profile. The transition was carefully guided by ESSA’s board and leadership team, ensuring continuity while positioning ESSA for its next phase of growth and influence.

Evidence Informing Policy

ESSA continues to drive education policy across Africa by translating rigorous research into actionable insights and strategic partnerships. Through projects like the Demographics of African Faculty, ESSA has informed regional dialogues on higher education workforce gaps and data systems. In Ghana, ESSA’s expertise is leveraged through the Education Sector Research Group (ESRG) and the Technical Working Committee on Teacher Motivation, contributing to policy frameworks, research agendas, and operational tools like the GEEDLab manual. Our collaborations extend to high-level partners such as the Global Partnership for Education and the Jacobs Foundation, and our active membership in the Ghana National Education Campaign Coalition ensures sector-wide influence.

Building a Stronger Platform for African Research, evidence and Researchers

Through our programmes, partnerships, and convenings, we continued to bring together researchers, policymakers, funders, and partners to generate context- and policy-relevant evidence, co-create solutions to local challenges, strengthen education systems, and advance learning outcomes across Africa.

Strengthening Organisational Capacity

ESSA continued to strengthen its internal capacity to manage a growing portfolio of programmes and partnerships. The introduction of a competency framework, refined team structure and the recruitment of new staff strengthened the organisation’s ability to deliver high-quality research and engagement.

EDUCATION SUB-SAHARAN AFRICA (ESSA)

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to strengthening education systems through evidence generation, use of data, and systems-based approaches. Since its founding in 2016, ESSA has grown from a small, innovative initiative into a respected continental institution that uses data and evidence to positively impact the quality of education across sub-Saharan Africa.

Registered in Ghana and the United Kingdom, ESSA brings together a diverse team and board members from Ghana, Kenya, Nigeria, Senegal, Tanzania, Togo, Uganda, and Zimbabwe, as well as the United Kingdom. Our multidisciplinary expertise spans education research, systems thinking, partnership-driven engagement, and evidence-informed advocacy. Every project we undertake is grounded in African realities, collaboration, and a shared commitment to strengthen resilient education systems across the continent.

The Challenges We Address

Many education systems in Africa face persistent structural challenges: faculty shortages, under-resourced research ecosystems, weak institutional data systems, and fragmented pathways from education to work. These are not always failures of individuals. Often, there are also systemic gaps that prevent evidence from being effectively used for decision-making, planning, resource allocation, and adaptation over time.

ESSA exists to bridge these gaps. We ensure that decisions about African education are informed by African data, research, and expertise. By working closely with policymakers, education/university/college leaders, researchers, implementers, funders, and employers, we generate evidence as well as enable the translation of that evidence into practical actions that improve learning outcomes and strengthen education systems. Our systems-based approach recognises that lasting change requires cross-sector collaboration, investment in African talent, and evidence that is both accessible and locally relevant.

Why ESSA Is Uniquely Placed to Make a Difference

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Our Values

ESSA’s values guide every decision, partnership, and action:

EvidenceSolutionsStrengthening Always driven focused trust Learning We are guided by data We seek the highest We are accountable to We listen to and learn and evidence to find impact for young people young people and from the first-hand what works best, and educators in Africa, educators, ensuring experiences of people building an African ensuring our transparency and across African education evidence alliance for investments are credibility in all we do. systems, adapting and education. cost-effective and improving our work targeted. continuously.

Equity, Diversity, and Inclusion

At ESSA, we envision a world where everyone has the opportunity to learn, develop their skills, and reach their potential. We are committed to eliminating discriminatory practices within our organisation and work, improving diversity, inclusivity, and equality of opportunity. By promoting understanding and collaboration across diverse cultures, we amplify our impact, recognising that real change comes from working together with all communities.

EDUCATION SUB-SAHARAN AFRICA (ESSA)

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Organisational Growth and Resilience:

People, Systems, Governance

Growing Our Impact

Africa to enhance regional insight on the Board. The appointment will take effect in the next financial year, further strengthening ESSA’s strategic governance. We are also proud to celebrate ESSA Trustee Professor Elsie Effah Kaufmann, who was elected as an International Fellow of the UK’s Royal Academy of Engineering—joining a distinguished group of 74 engineers and innovators recognised for their exceptional contributions to engineering and technology.

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

In Action

Strengthened internal capacity across people, systems, and processes.

Enhanced grant management and due diligence, reinforcing transparency and accountability.

informed our priorities and professional development.

Strong engagement and confidence in ESSA’s leadership team reflected a resilient, aligned culture.

Shaping Our Strategic Path Forward

Building on the strategy outlined in the 2023/24 financial year, ESSA continued to implement and refine its 2021–2026 strategic priorities throughout 2025. We deepened country-level engagement, particularly in Ghana, Kenya, and Senegal, ensuring that our programmes, research, partnership and engagement respond directly to local needs and priorities.

In addition, ESSA maintained ongoing consultations with staff, board members, funders, and partners to gather insights, perspectives, and lessons learned. These conversations are helping to shape the next strategic period, ensuring that our focus remains relevant, ambitious, and aligned with African education priorities. This reflective and iterative process continues as we approach our 10[th] anniversary in 2026, laying the foundation for a renewed strategy that will guide ESSA’s work in strengthening African education systems, amplifying locally led research, and fostering sustainable, evidence-driven change.

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Impact Through Our Values

Evidence-Based

At ESSA, being evidence-based is not just a value. It is how change happens. In 2025, our work focused on three clear priorities: generating high-quality African-led research, strengthening African researchers and institutions to produce and apply evidence effectively, and ensuring that this knowledge informs real policies and practices across education systems in the region. We believe knowledge matters when it improves decisions, strengthens institutions, and drives better learning outcomes.

Too often, education decisions are made without the insights of those who understand local realities best. ESSA is changing this by placing African-led evidence at the centre of decision-making, so that policies respond to real challenges, institutions grow stronger, and researchers lead change in their own contexts. This is what evidence-based action looks like in practice.

Shaping Policy Through African-Led Evidence

ESSA is a partner in the Demographics of African Faculty in the East African Community (DAF-EAC) project, with other consortium members being the Inter-University Council for East Africa (IUCEA), the Association of African Universities (AAU), and Population Reference Bureau (PRB). The Carnegie Corporation of New York provided the funding.

By analysing faculty composition and workforce trends across the EAC, ESSA and partners generated insights that governments and universities can use to strengthen data governance and systems, and to plan for the future of higher education. In 2025, this work reached a defining moment: IUCEA’s Executive Council approved new harmonised regional data guidelines and indicators informed by the DAF-EAC study. The document provides a clear framework for faculty development and workforce planning across the EAC, and its influence also extends to national decision-making.

During the Education Evidence for Action (EE4) Conference in Kenya, the Kenyan Cabinet Secretary for Education referenced findings from the study in his remarks – a clear recognition that African-led, data-driven research is shaping policy conversations at the highest level. This work therefore demonstrates what evidence-based action looks like: how rigorous, locally grounded evidence can be used to directly inform policy, aligning regional actors, and strengthening the foundation of Africa’s academic workforce.

Strengthening African Research to Drive Local Solutions

ESSA invests in the people who generate evidence, building skills, confidence, and networks to drive local solutions. Through our collaborative Early Childhood Development (ECD) Research Grants, we supported 31 researchers across 10 African countries, selected from a highly competitive pool of over 800 applicants. These grants went beyond funding. We strengthened the ECD researchers’ skills in evidence synthesis, grant writing, and policy engagement, while also raising their visibility through platforms such as the African Education Research Database (AERD) , webinars, and international convenings. New connections with policymakers also increased the likelihood that the evidence these researchers generate can inform real decisions. Importantly, 55 per cent of these researchers are women, strengthening female leadership and influence in early childhood research across Africa.

Our collaborative Foundational Learning (FL) work also gained strong momentum. Through webinars and workshops, more than 300 participants from 16 African countries connected, shared learning, and strengthened research networks. The 2025 grants call attracted 315 applications: 95 from Ghana, 168 from Kenya, 15 from Senegal, and 37 from Zambia. Although the grant call, review of applications, and selection of awardees took place during the 2024/25 financial year, the grants were awarded during the 2025/26 financial year. The grants are in use and are enabling the generation of contextually relevant evidence that could directly inform policy and practice. Significantly, we expanded

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

access to Francophone researchers, reinforcing ESSA’s commitment to inclusion and improving the visibility of Francophone African education research.

At the same time, the contents of the AERD increased to over 6,500, as more than 1,700 new peer reviewed publications were added in 2025, making African research more discoverable and actionable. Its value is clear. Margo O’Sullivan, Director of Programmes and Co-Founder of Power Teachers Africa (Uganda), shared on LinkedIn: “What a resource! I just used their search facility on articles on #teachers and teaching in #Uganda and found 49 articles—my weekend reading sorted!”. This is a strong signal that the AERD is not only growing in content and visibility, but also being actively used by practitioners.

Implemented in partnership with the Research for Equitable Access and Learning (REAL) Centre and funded by the Conrad N. Hilton Foundation, the Gates Foundation, and the Global Partnership for Education (GPE) Knowledge and Innovation Exchange (KIX), our efforts are building a stronger, more connected ecosystem, where African researchers are not only generating knowledge, but shaping solutions that can directly inform local policies and practices.

In Action

research outputs across priority areas, including 9 research papers and 15 policy briefs.

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Research outputs published in English and French, expanding access across the continent.

Practitioners increasingly use ESSA-curated evidence to inform their programme design.

policy and education discussions at national and regional levels.

Turning Evidence into Policy and Practice

As an example, in Ghana, ESSA ensures that African-led evidence does more than inform research. It drives decisions that shape classrooms and education systems. In recognition of our contribution to evidence generation and knowledge management, the Ministry of Education in Ghana invited ESSA to join its Education Sector Research Group (ESRG) - a platform of experts advising on the data and evidence needed to improve policy and learning outcomes nationally.

Through ESRG, ESSA provided technical input to the Research and Learning Agenda, and the operational framework of the Ghana Education Evidence Data Lab (GEEDLab), while also contributing to policy strategies focusing on teacher motivation. Collaboration with the Ministry’s research and data directorates, formalised through a soon-to-be-signed MoU, ensures faster, evidence-informed decisions that respond to local education needs.

Beyond engaging with the government, ESSA’s work extends to partnerships with several local universities, civil society organisations such as the Ghana National Education Campaign Coalition (GNECC), and funders such as the GPE and Jacobs Foundation. Through these engagements, evidence generated by African researchers is debated, validated, and applied, turning knowledge into actionable policies and strategies.

This is evidence in action: turning knowledge into decisions, strengthening institutions, and improving learning outcomes for children, teachers, and communities across Africa.

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Solutions-Focused

happens when evidence is used to solve problems, inform decisions, shape programmes, and improve what happens in classrooms. Yet research in Africa is too often underused, disconnected from policy priorities, or is difficult to translate into practical action.

ESSA connects context-relevant evidence to action, strengthens collaboration, and ensures research drives meaningful change. Being solutions-focused means ensuring evidence is actively applied to address pressing education challenges across Africa, rather than left to sit on shelves. We work alongside African researchers, policymakers, and practitioners to co-create practical solutions, recognising that the most effective responses are locally led by governments, educators, and researchers within Africa.

In 2025, our solutions-focused work centred on advancing these local partnerships and enabling the effective use of research and data to improve education systems in Africa, as captured in examples below.

From EERA to HERI Africa: Piloting Locally Led Education Solutions

A major milestone was the transition of the Enhancing Education Research in Africa (EERA) project (funded by Echidna Giving, Imaginable Futures, and the Jacobs Foundation) into Harnessing Education Research for Impact in Africa (HERI Africa) . Through EERA, ESSA collaborated with Southern Hemisphere to engage with education researchers to develop eight evidence-based interventions that could positively transform education research in Africa. These interventions were launched in February 2025 at a high-profile convening of policymakers, funders, and academics. Building on this momentum, ESSA and Southern Hemisphere brought together 30 education leaders in Kenya to co-create a nationally aligned, fundable research agenda. HERI Africa now pilots ideas generated by education researchers, government representatives, universities, and philanthropic partners, redefining how education research in Africa is led, funded, and applied to system-wide challenges.

Strengthening School Leadership Across Africa Through the ACSL

At the same time, our collaborative work on school leadership advanced through the African Centre for School Leadership (ACSL) , implemented in partnership with ADEA, VVOB, and FAWE. A defining moment was the establishment of this partnership through a six-year grant from the Mastercard Foundation - ESSA’s largest grant to date. This investment reflects strong confidence in ESSA’s leadership and its ability to deliver large-scale, Africa-led initiatives that strengthen education systems.

Through the ACSL, ESSA is advancing African-led research and policy engagement on school leadership in Tanzania and at a Pan-African level. Demand for this work is clear, with over 700 participants joining a grants information webinar.) Through targeted research grants, strategic partnerships, and country-level engagement, including a formalised collaboration with Tanzania’s Agency for the Development of Educational Management, ACSL is generating relevant evidence and supporting improvements in school leadership capacity strengthening, practices, and learning outcomes in Africa.

Unlocking Data: Building Capacity for Evidence-Informed Decisions

ESSA also expanded the use of data in decision-making through the Unlocking Data Initiative ( UDI , led by Zizi Afrique Foundation, with eBase and the EdTech Hub being the other partners). Across Kenya, Cameroon, and Malawi, policymakers and researchers are being equipped to apply data more effectively to address education challenges. In Kenya, a hybrid training convened 25 policymakers and researchers from government and non-governmental organisations, civil society organisations, and more, to build capacity in evidence synthesis through a six-month programme that combined technical training, mentoring, and practical application. Through regional collaboration and global platforms, the initiative is increasing both the use of data and the number of actors who are now able to translate data into meaningful action.

African EdTech Research: Shaping Policy and Global Conversations

Complementing the ACSL, ESSA, in partnership with the EdTech Hub and ADEA, launched the strategic African EdTech Research Impact project which was funded by the IDRC to generate relevant evidence that informs national education technology policies and implementation, ensuring that African perspectives shape global discussions on how technology can support foundational learning. Working closely with Ministries of Education and local research organisations in Kenya, Malawi, and Cameroon, the initiative is helping ensure that EdTech investments are guided by contextually relevant insights and lead to real improvements in learning.

Across all these efforts, one message is clear: solutions are most effective when they are locally led, evidence-informed, and grounded in real system needs. ESSA is connecting research, data, partnerships, and policy to move from ideas to implementation—ensuring that evidence drives real change.

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In Action

ESSA co-developed research agendas with policymakers and researchers to align evidence with national priorities.

The organisation contributed to technical working groups addressing key challenges such as teacher motivation and workforce reform.

ESSA’s tools and frameworks are being adopted to support data-informed decision-making.

Through convenings and engagement, ESSA supported the translation of research into practical action.

This is solutions-focused work in action: turning evidence into decisions, aligning actors around shared priorities, and delivering practical changes that strengthen education systems and improve learning outcomes across Africa.

Strengthening Trust

Trust is the foundation of ESSA’s work. Evidence only drives change when people believe in it, and policies only improve when stakeholders have confidence in the organisations delivering them. In 2025, ESSA focused on strengthening trust by consistently delivering high-quality, relevant evidence and deepening engagement with partners across the education ecosystem.

confidence: 87% of external stakeholders rated ESSA’s knowledge outputs as highly relevant, and 93% affirmed ESSA’s ability to strengthen trust. These results show not only satisfaction with our work but confidence in ESSA as a credible, transparent, and dependable partner in advancing education systems across Africa.

Trust is also demonstrated through ESSA’s growing role as a convenor and connector. Coalitions built on shared purpose, networks with researchers across Africa, and deep engagement with universities and research institutions have positioned ESSA as a trusted platform for collaboration. In 2025, organisations including UNESCO Dakar, the National Geographic Society, CREG (Senegal), FAWE, the Center for Global Development, and Education Design Unlimited actively sought ESSA for partnership, technical input, and dissemination support. These inbound requests reflect a clear shift: ESSA is not only contributing to education conversations but increasingly shaping them.

Through consistent delivery, validated outputs, and values-driven engagement, ESSA has strengthened its reputation as a trusted authority, linking research, policy, and practice to drive meaningful and lasting impact across the continent.

In Action

of stakeholders reported that ESSA strengthens trust in the use of evidence.

strengthens trust in 93% the use of evidence. of external stakeholders found 87% ESSA outputs highly relevant to their work.

Strengthened due diligence and grant processes enhanced transparency and accountability.

ESSA is increasingly sought out as a trusted partner for collaboration and technical support.

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Always Learning

Learning is at the heart of how ESSA works. Evidence and solutions matter most when we continually reflect, adapt, and apply what we learn to improve outcomes. In 2025, ESSA deepened its commitment to reflection, feedback, and continuous improvement, ensuring that insights from our programmes and people directly strengthen our impact across Africa. This commitment is reflected in our organisational performance: 74% of stakeholders recognised ESSA as an organisation that values learning, alongside strong ratings across all our core values. As ESSA transitions from a high-performing research intermediary to a recognised leader in the education ecosystem, learning remains a key driver of our growth, adaptability, and influence.

An important part of this approach is embedding structured reflection into our work. Across 43 events and multiple programmes, covering areas such as foundational learning, school leadership, teacher motivation, and higher education data, ESSA teams regularly assessed what worked, what could be improved, and how insights could be applied across contexts. This reflection was strengthened through participation in over 10 global and regional conferences and convenings, where ESSA both shared knowledge and learned from peers and policymakers. Expanding into new spaces, such as our first Francophone workshop in Senegal, also provided valuable learning on how to engage more inclusively and effectively across diverse contexts.

Internally, ESSA continued to prioritise learning from its staff. Annual staff surveys highlighted high levels of engagement and confidence in leadership while identifying opportunities to strengthen career development, professional growth, and pathways for translating research into action. These insights are directly shaping organisational priorities for 2026. Moments such as the team retreat in Naivasha, Kenya also created space for reflection, connection, and alignment, strengthening a shared commitment to delivering impactful work.

At the same time, ESSA is strengthening how it learns from impact. While significant progress has been made in knowledge production and dissemination—through reports, policy briefs, events, and digital engagement—the organisation recognises the need to better track how evidence is taken up and applied in policy and practice. Strengthening this results-to-impact pathway, including documenting uptake and system-level influence, is a key priority moving forward.

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In Action

ESSA embedded structured reflection across programmes to continuously improve delivery and impact.

Staff feedback is actively shaping organisational priorities and professional development pathways.

ESSA is strengthening how it tracks evidence uptake to better understand impact.

Internal learning moments, including team reflections and retreats, supported alignment and growth.

continuous adaptation, ESSA ensures that learning is not only a core value, but a practical tool for improving how we work, deepening our impact, and responding effectively to the evolving needs of Africa’s education systems.

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Evidence only makes an impact when it is relevant, seen, shared, and applied. In 2025, ESSA focused on ensuring African-led research was widely accessible, visible, and central to education discussions at national, regional, and international levels. Stakeholder awareness reached 79%, reflecting recognition of ESSA’s growing influence across the African education ecosystem.

ESSA strengthened its presence at key conferences and policy forums, including the Education Evidence for Action Conference in Kenya, the AAU COREVIP Conference in Rabat, Morocco, and the 2025 Comparative & International Education Society (CIES) Conference. At CIES, our team presented in two dynamic panel discussions organised by Zizi Afrique Foundation and the African Population and Health Research Center, creating opportunities to share insights, connect with peers, and explore collaborations that advance education research and evidence use. Engagement through workshops, webinars, and learning sessions created space for dialogue, knowledge exchange, and collaboration—linking researchers, policymakers, and practitioners across Africa. Lessons from the DAF-EAC project were highlighted through these engagements, demonstrating how reliable faculty data strengthens planning, policy, and investment across African universities.

globally. Our team shared insights in University World News on how locally driven research improves policy, increases enrolment, and addresses challenges such as underfunding and gender disparities. On the Let’s Talk Education Africa podcast , we highlighted the importance of integrating African knowledge systems and amplifying minority voices, while navigating the balance between research autonomy and external funding.

Research advocacy further extended ESSA’s reach. In collaboration with the REAL Centre, we co-authored a NORRAG blog highlighting barriers African researchers face in global publishing and calling for greater visibility on high-impact platforms. An article in the International Journal of Educational Development reinforced the importance of research that addresses local African education challenges, aligning with our partnership with Southern Hemisphere to advance African-led solutions.

to articles on strengthening higher education to tackle basic education challenges, such as teacher shortages and weak curriculum implementation. On International Education Day, we called for stronger African-led research, enhanced South–South collaboration, and better engagement between researchers and policymakers to ensure evidence informs real-world solutions.

Across specialised research areas, our visibility continued to grow. We co-authored blogs on early childhood research in Mozambique and on data-informed agendas for foundational learning through the Unlocking Data Initiative. Peer-reviewed publications, including How Useful is Your Education for Work? Lessons from Graduates’ Transition to Employment in Three African Countries , strengthened our academic voice, while thought leadership posts such as The Power of Small Things resonated widely with partners and stakeholders, reinforcing ESSA’s influence in the education ecosystem.

newsletter reached 3,799 subscribers, with open rates rising to 60%, while LinkedIn followers surpassed 17,000. Website analytics showed increasing interest from across Africa, with 2,648 users accessing content from countries including Kenya, Ghana, and South Africa. These platforms ensured that African-led research is widely accessible, while facilitating engagement, dialogue, and collaboration across the continent.

In Action

Strengthening cross-country collaboration, actively participating or leading over 40 events.

Through these efforts, ESSA ensured that African-led education research was not only produced but visible, accessible, and influential, amplifying the voices that shape education decisions across Africa and beyond.

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Looking Ahead:

Accelerating Impact in 2026

As ESSA moves into 2026, our focus is on deepening impact, strengthening African education systems, and amplifying locally led evidence. Building on the achievements of 2025, we remain committed to ensuring that African research drives decisions, informs policy, and improves learning outcomes across the continent.

Key priorities for the year include:

2026 will also be a year of strategic growth and long-term sustainability. ESSA will celebrate its 10[th] anniversary, with an ambitious goal to raise at least USD 10 million to support African education research and researchers, a milestone marking a decade of evidence-driven impact. We will develop our organisational strategy for 2027 and beyond, guided by insights from staff, partners, funders, and our Board, ensuring ESSA remains agile, innovative, and impact-focused.

Additionally, we will continue to strengthen partnerships, systems, and organisational resilience, maintaining a culture of continuous learning, professional growth, and measurable impact across all programmes. Through these initiatives, ESSA will consolidate achievements, scale African-led solutions, and ensure evidence not only informs policy but transforms education outcomes across the continent. By connecting researchers, governments, and funders, we aim to drive practical solutions and sustainable improvements for African learners.

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Partners’ and Funders’ Spotlight

ESSA’s work is strengthened through collaboration with visionary partners, funders, and implementing organisations who share our commitment to African-led, evidence-driven education solutions. In 2025, these collaborations enabled us to scale research, translate evidence into practice, and influence policy across the continent.

Implementing Partners

Working hand-in-hand with local and regional organisations, ESSA delivered research, capacity-building, and programme interventions that directly impact learners and education systems:

Southern Hemisphere – Partnered on research agenda setting and programme design for HERI Africa.

ADEA, VVOB, and FAWE – Collaborated on the African Centre for School Leadership (ACSL) to strengthen school leadership and improve teaching quality.

REAL Centre and INASP – Supported training and mentoring for African researchers in Early Childhood Development and Foundational Learning.

T-TEL Ghana – Worked to link research evidence directly to national policy and teacher development strategies.

EDUCATION SUB-SAHARAN AFRICA (ESSA)EDUCATION SUB SAHARAN AFRICA (ESSA) 0321

Funding Partners

Financial support from key funders ensured ESSA could scale initiatives and sustain high-quality research:

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Mastercard Foundation – $7.65 Gates Foundation – Renewed IDRC – Funding for EdTech
million for ACSL, embedding support for research and research consortia across multiple
African expertise into school capacity-building initiatives. countries.
leadership reforms.
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Global Partnership for Education (GPE), Imaginable Futures, Echidna Giving, and Carnegie Corporation of New York – Strategic contributions supporting research, policy engagement, and African-led solutions.

national, regional, and global platforms. Our partners and funders are central to achieving our mission, ensuring evidence informs decisions, drives policy, and transforms education outcomes across Sub-Saharan Africa.

Advisory Contributions

For the Early Childhood Development and Foundational Learning projects, our Advisory Group provided critical guidance and expertise:

For the Enhancing Education Research in Africa (EERA) project, the Steering Group ensured strategic oversight and effective use of resources:

Professor Mavis Dako-Gyeke (University of Ghana) Professor Belay Hagos (Addis Ababa University) Dr Mary Goretti Nakabugo (Executive Director, Uwezo Uganda) Professor Efua Irene Amenyah Sarr (Gaston Berger University, Senegal)

Dr Modupe Adefeso-Olateju (Brookings Institution) Dr Moses Ngware (African Population and Health Research Center) Professor Mwenda Ntarangwi (United States International University – Africa) Dr Ndeye Massata Ndiaye (Virtual University of Senegal) Dr Nokuthula Mchunu (National Research Foundation, South Africa)

We thank each partner, funder, and expert for their dedication, collaboration, and belief in African-led solutions. Together, we are building a stronger ecosystem for evidence-based reform.

22

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Financial Review

Income

ESSA’s income grew from £1,451,070 in 2023/24 to £4,191,789 in 2024/25, an increase of 189%. Most of our income comes from grants from larger donors, with whom we have very strong relationships, and we continue to develop projects in partnership.

Our major funding partnerships following this model are with the Conrad N. Hilton Foundation and the Bill & Melinda Gates Foundation, both of which began in the 2021/22 financial year, primarily to support our work to raise the profile of African researchers. Two significant new partners came on board during the 2022/23 financial year; the first was the inaugural grant to our Ghanaian entity as partner on a 5-year Mastercard Foundation funded project “Leaders in Teaching” led by Transforming Teaching Education and Learning (T-TEL), with the primary goal of enhancing teacher training, retention, and motivation at the senior high school level in Ghana; the second a consortium of funders (Imaginable Futures, Echidna Giving and the Jacobs Foundation) in support of a continent-wide consultation entitled “Enhancing Education Research in Africa”.

The 2024/25 financial year continued with significant renewal funding from 2023/24 to support the deepening of the work funded by the Carnegie Corporation of New York, the Conrad N. Hilton Foundation and the Bill & Melinda Gates Foundation.

new consortia, both with funding secured, with implementation starting in January 2025. The first is the Africa Centre for School Leadership, supported by the MasterCard Foundation. This effort is undertaken as a consortium led by VVOB and including ESSA and ADEA. The second is a consortium of ESSA, ADEA, and the EdTech Hub, funded by the International Development Centre of Canada, to strengthen the use of educational technologies and related policies in Africa towards inclusive learning.

While much of our success in fundraising has been restricted, we continue to diversify through targeted approaches to potential corporate partners and donors open to investing in organisational development with the hope of receiving unrestricted support, being conscious of the current economic challenges. We are particularly grateful to Imaginable Futures for continuous support over the years in this regard.

ESSA’s fundraising practice is in accordance with the Fundraising Regulator’s Guidance Code on Fundraising Practice. No complaints have ever been received concerning ESSA’s fundraising activities. ESSA has not had any practice of unreasonable intrusion on a person’s privacy, of unreasonable persistence, nor has it placed undue pressure on anybody to give money.

EDUCATION SUB-SAHARAN AFRICA (ESSA)EDUCATION SUB SAHARAN AFRICA (ESSA) 0323

Expenditure

Total expenditure for the year was £2,065,117, with 83% funded from restricted income. Expenditure increased by 25% as we continued our work across our four focus areas, particularly in building a knowledge ecosystem for education, with support from the Conrad N. Hilton Foundation and the Gates Foundation.

Expenditure on fundraising primarily covered staff time dedicated to researching, engaging, and building relationships with donors.

----- Start of picture text -----
Expenditure Analysis
148,913 103,662
103,674 Raising Funds
82,829 Quality of university and college
255,648 education
Young people's transition from
education into work
Building a knowledge ecosystem
for education
201,048
Monitoring, Evaluation and
Learning
1,169,343 Raising awareness with
stakeholders and policymakers
Support costs
----- End of picture text -----

Reserves

The charity’s reserves policy aims to maintain funds equivalent to three months of core organisational expenditure, including salaries. Currently, this amounts to approximately £200k . The Trustees consider this level of reserves sufficient to sustain the charity’s activities in the event of a significant drop in funding, while the charity explores additional fundraising opportunities.

Reserves are typically unrestricted , and the charity’s financial planning and fundraising efforts aim to grow these reserves. However, the policy acknowledges that core costs can also be covered by restricted funding .

As at 30 September 2025, reserves stood at £285,360 (2024: £1,469) for unrestricted funds and £2,594,482 (2024: £751,700) for restricted funds.

Post-year-end, we secured a contract in April 2026 for rapid-response research valued at USD 336,000 from

the Mastercard Foundation. This is expected to strengthen our unrestricted reserves by providing services in the 2025/26 financial year.

In addition, indirect cost recoveries (overheads) from existing grants, including those funded by Hilton, Gates, ACSL (African Centre for School Leadership, delivered through a consortium with VVOB, a Belgian NGO), and the EdTech project funded by IDRC, have all contributed to the growth in unrestricted reserves.

including post-year-end developments, remains very positive. Major philanthropic donors continue to deepen their engagement with ESSA, providing significant funding at the outset and supporting fair recovery of essential indirect costs. This enables ESSA to sustain its operations and deliver meaningful impact, reinforcing donor confidence in our work.

24 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Going concern

sustainability, including cash flow projections and fundraising prospects and consider it appropriate that the financial statements be prepared on a going concern basis.

This consideration takes into account forecasts of secured income together with probabilities for the realisation of opportunities within the pipeline of new projects - some of which have already materialised: for example, the SEA II provision of services contract valued at USD 336k - and the ongoing work of the Executive in sourcing relevant new income streams.

scenario in which no additional funding is secured, the organisation has sufficient financial resources to continue operating untill at least September 2027. Management will continue to actively pursue new funding opportunities and strategic partnerships during this period to support ongoing operations, strengthen financial resilience, and enable the organisation to continue delivering impact beyond this timeframe.

Structure, Governance, and Management

Legal Structure The charity is a company limited by guarantee incorporated under the Companies
Act 2006 as a private company and is governed by its Memorandum and Articles of
Association dated 4thApril 2016 (Company Number 10101086). It was entered on the
Registers of Charities on 5thMay 2016.
Education Sub-Saharan Africa (ESSA) LBG is registered as a company limited by
guarantee in Ghana (Company number CG034110622) and a non-proft in Ghana
(non-proft licence number NPOS/GRO1/LNO552/23), with the oversight of a National
Board of Trustees. The Board of Trustees in Ghana comprises current and former
Trustees and representatives of the charity's Senior Leadership Team, and it is through
this mechanism that ESSA is considered to have control.
Selection and Trustees are appointed by members with the aim of ensuring suitable competencies
Appointment of
Trustees		 and experience for governance are represented within the board. Potential
candidates may be identifed in a variety of ways including, but not limited to, search
and advertised recruitment. The selection process is based upon relevant criteria
and opportunity at the time. It includes interview, due diligence, written and oral
referencing. ESSA seeks to continue having a diverse board of Trustees. No Trustee
has any benefcial interest in the company.
Trustee All new Trustees receive a structured induction programme that covers all aspects of the
induction and role and the organisation. As part of this, they are given copies of ESSA’s Memorandum
training and Articles of Association, governance document, strategy, business plan, the previous
year's annual accounts, the current year's budget, code of conduct and any relevant
committees' terms of reference.
New Trustees must complete and sign a declaration of interest, anti-bribery policy, ft
and proper person's declaration and ESSA’s code of conduct.
Risk The charity operates a comprehensive annual planning and budgeting process,
management approved by the Trustees. Financial performance is monitored against targets, with
regular reports comparing actual results to the phased budget and linking fnancial
performance to resource and activity levels. Since its inception, ESSA has adopted a
dynamic budgeting approach, ensuring responsiveness to change throughout the year.
The charity has risk management policies and procedures to identify and evaluate
risks arising from both ongoing operations and strategic developments. Signifcant
risks are highlighted for the Audit & Risk Committee's consideration and monitoring
and are reported to the Board of Trustees. All major risks identifed through these
procedures have been reviewed, with our top risks outlined below:

EDUCATION SUB-SAHARAN AFRICA (ESSA) 25

Mitigation Strategy

  1. Organisational growth may exceed current management capacity, increasing the risk of weakened strategic oversight and operational control.

  2. Failure to attract and retain critical talent may disrupt operational performance and delay achievement of organisational objectives.

  3. Although approval to prepare the ESSA LBG accounts in USD reduces volatility arising from GHS–GBP translation movements within consolidated reporting, the underlying foreign exchange risk remains. The key exposure is the mismatch between the currencies in which income is received and those in which operational expenditure is incurred. Significant exchange rate fluctuations could therefore result in funding shortfalls in the currencies required to meet programme and operational obligations. In addition, intercompany transactions between ESSA (USD functional environment) and ESSA LBG (GBP functional environment) may continue to create reconciliation and reporting complexities at year-end.

  4. ESSA’s IT systems, including the newly implemented Sage Intacct accounting software, could be compromised through unauthorised access, hacking, or other cyber threats. A successful cyber-attack could result in system failure, loss or corruption of critical organisational and financial records, breaches of sensitive data, and significant operational disruption. This could cause reputational damage, financial loss, and delays in programme delivery.

  5. Review and align organisational structure and leadership responsibilities with current scale and complexity.

  6. · Strengthen delegation to second-tier management to reduce SLT operational burden.

  7. · Implement a prioritisation framework to focus leadership capacity on strategic and high-risk areas.

  8. · Phase implementation of new programme components to manage capacity impact.

  9. Engage external search firms for hard-to-fill roles to broaden candidate reach and reduce recruitment delays.

  10. · Adjust role levels and salaries to attract suitable candidates for specialist positions.

  11. · Offer remuneration slightly above market for small organisations to retain key staff.

  12. · Maintain slightly overstaffed levels as directed by the Board to reduce operational disruption.

  13. Maintain regular foreign exchange exposure monitoring and cashflow forecasting across USD, GBP, and GHS balances to identify potential currency shortfalls early.

  14. · Align, where possible, the currency of expenditure with the currency of funding to minimise conversion exposure.

  15. · Manage foreign exchange risk through regular monitoring of balances and transactions across multiple countries of operation, including funds received and held in different currencies, supported by periodic review of exchange movements and financial exposures.

  16. Establish and periodically review foreign exchange reserve thresholds and treasury management practices to cushion against significant currency volatility.

  17. Maintain robust cloud-based systems (Microsoft 365, QuickBooks, Salesforce) with secure passwords, role-based access, firewalls, antivirus software, and regular updates.

  18. Roll out two-factor authentication (2FA) across Microsoft 365, enforce stronger password policies, and provide enhanced staff training on phishing and malware risks.

  19. Implementation of Sage Intacct with built-in security features and regular software updates.

  20. · Organisation-wide cybersecurity protocols, including MFA, anti-phishing training, and secure access management.

  21. · Strengthened third-party IT support for proactive monitoring, threat detection, and rapid incident response. Regular backups and disaster recovery procedures to minimise data loss and operational disruption.

26

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Public Benefit Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit and that the activities carried out by the charity during the year were all undertaken in order to further the charity’s aims for the benefit of the charity’s beneficiaries.

Organisation structure

ESSA’s CEO is appointed by the Trustees to manage the day-to-day operations of the charity. Powers are delegated to the Senior Leadership Team under a schedule of reserved powers approved by the board. ESSA’s Senior Leadership Team is comprised of the Chief Executive Officer, Director of Finance and Operations, and Director of Research and Programmes.

ESSA controls one African based entity and all activity is managed by the Senior Leadership Team of ESSA. All financial records for the entity are maintained by the entity and full consolidated accounts have been prepared for the year ended 30 September 2025.

Remuneration policy for Senior Leadership Team

2021/22. The pay of the Charity’s CEO and Senior Leadership Team is recommended by the Remuneration Committee and approved by the Board of Trustees. The salary is set to be competitive and benchmarked against similar charitable organisations.

Corporate Directory

Trustees

Jonathan Ane

Patrick Dunne, Chair

Christopher Foy, Treasurer Abdelrahman Hassan

Hellen Inyega Elsie Effah Kaufmann Baidy Dieng (Appointed 1 October 2025)

3rd Floor Chancery House St Nicholas Way Sutton Surrey SM1 1JB

Bankers

C. Hoare & Co 37 Fleet Street London EC4P 4DQ

Senior Leadership Team

Lucy Heady, CEO (To 31 July 2025)

Pauline Essah, CEO (From 1 August 2025)

John Ali, Director of Finance and Operations

Pauline Essah, Dir. of Res. & Prog (To 31 July 2025)

Auditors

Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW

Solicitors

Bates Wells Braithwaite 10 Queen Street Place London

Leila H. Abdullahi, Dir. of Res & Prog Delivery (from 1 February 2025)

Charity number 1166958

Company number 10101086

EDUCATION SUB-SAHARAN AFRICA (ESSA)

27

Statement of Trustees' Responsibilities

The trustees, who are also the directors of ESSA for the purpose of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the group for that year.

required to:

group’s auditor is unaware. Each trustee has taken all the steps that he/she should have taken as a trustee to make himself/herself aware of any relevant audit information and to establish that the charitable group’s auditor is aware of that information. This report has been prepared under the exemptions available to small companies under the Companies Act 2006.

Auditor

In accordance with the company's articles, a resolution proposing that Crowe U.K. LLP be reappointed as auditor of the company and group will be put at a General Meeting.

The trustees' report was approved on behalf of the board of trustees.

Patrick Dunne Chair of Trustees

Dated: 26 June 2026

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

As far as each of the trustees of the group at the date of approval of this report is aware there is no relevant audit information (information needed by the charitable group’s auditor in connection with preparing the audit report) of which the charitable

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Independent Auditor's Report to The Members and Trustees of Education Sub-Saharan Africa

Opinion

of Education Sub-Saharan Africa (the “charitable company”) and it's subsidiary ("the group") for the year ended 30 September 2025 which comprise consolidated statement of financial activities (incorporating income and expenditure account), the consolidated and charity balance sheets, the consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

EDUCATION SUB-SAHARAN AFRICA (ESSA) 29

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 27, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

responsible for assessing the group and charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members component audit teams. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, including financial reporting legislation and the Charities SORP (FRS 102), and local tax regulations. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be necessary to the charitable company’s and group’s ability to operate or to avoid a material penalty. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

30

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

We also considered the opportunities and incentives that may exist within the charitable company and group for fraud. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of grant income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, detailed substantive testing of a sample of grant income and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Hughes Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London

29 June 2026

31

Financial Statements and Notes

Consolidated Statement of Financial Activities (incorporating Income and Expenditure Account)

For the Year Ended 30 September 2025

2024/25 2023/24
Restricted
funds		 Unrestricted
funds		 Total Funds Total Funds
Note £ £ £ £
Income
Donations and grants 2 3,548,608 642,283 4,190,891 1,434,960
Provision of Services - - - 15,671
Other income - 898 898 439
Total Income 3,548,608 643,181 4,191,789 1,451,070
Expenditure
Raising Funds 3 58,711 44,951 103,662 81,797
Charitable activities 3 1,647,115 314,340 1,961,455 1,573,826
Total Expenditure 1,705,826 359,291 2,065,117 1,655,623
Net income/(expenditure) 1,842,782 283,891 2,126,673 (204,553)
Transfers between funds 10 - - - -
Net movement in funds 1,842,782 283,891 2,126,673 (204,553)
Reconciliation of funds:
Total funds as at 1 October 2024 10 751,700 1,469 753,169 998,577
Effect of hyperinfation on b/f funds 10 - - - (40,855)
Total funds as at 30 September 2025 2,594,482 285,360 2,879,842 753,169

All income and expenditure derive from continuing activities.

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Balance Sheet

For the Year Ended 30 September 2025

Consolidated Consolidated Charity Charity
2024/25 2023/24 2024/25 2023/24
Note £ £ £ £
Fixed Assets
Tangible fxed assets 7 6,130 6,456 4,310 3,984
Total Fixed Assets
Current Assets
Debtors 8 810,792 38,544 1,091,164 239,903
Cash at bank and in hand 2,328,064 765,841 1,799,941 544,446
Total Current Assets 3,138,856 804,385 2,891,105 784,349
Creditors: amounts falling due within one year 9 (265,144) (57,672) (243,838) (40,123)
Net current assets 2,873,712 746,713 2,647,267 744,226
Net assets 2,879,842 753,169 2,651,577 748,210
Funds of the charity:
Restricted funds 10 2,594,482 751,700 2,562,012 704,014
Unrestricted funds 10 285,360 1,469 89,565 44,196
Total funds 2,879,842 753,169 2,651,577 748,210

to the small companies’ regime.

ESSA uses the exemption conferred by section 408 of the Companies Act 2006 in not preparing a separate Income and Expenditure Account for ESSA as a separate entity. The net income/(expenditure) for ESSA alone for the year to 30 September 2025 was £1,903,368 (2023/24: £126,182).

Patrick Dunne

Chair of Trustees

EDUCATION SUB-SAHARAN AFRICA (ESSA)

33

Consolidated Statement of Cash Flows

For the Year Ended 30 September 2025

2024/25 2023/24
Note £ £
Cash fows from Operating Activities
Net cash generated from (used by) operating activities 12 1,553,537 113,698
Cash Flows from investing Activities
Purchase of tangible fxed assets (3,011) (3,623)
Net cash provided by (used in) investing activities (3,011) (3,623)
Cashfows from Financing Activities
Bank Interest received 148 439
Net cash used in fnancing activities 148 439
Change in cash and cash equivalents in the year 1,550,616 110,514
Cash and cash equivalents brought forward 765,841 721,322
Unrealised gain/(loss) from exchange rate changes on cash held in
foreign currency		 11,607 (65,995)
Cash and cash equivalents carried forward 2,328,064 765,841

ESSA as a separate entity.

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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

1. Accounting policies

Registration

Education Sub-Saharan Africa is a private company limited by guarantee incorporated in England and Wales. The registered office is 3rd Floor, Chancery House, St Nicholas Way, Sutton, Surrey, SM1 1JB.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Articles of Incorporation, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound value.

Assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange prevailing at the balance sheet date. Transactions in foreign currencies are recorded at the rate prevailing at the date of the transactions. All differences are taken through the Statement of financial activities. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Due to hyperinflation in Ghana all transactions through the Ghana entity (including income and expenditure) are adjusted by indexation at the year-end. On consolidation these foreign currency transactions are translated at the rates of exchange ruling at the balance sheet date. All material differences are taken to the general reserves. The effect of hyperinflation on b/f was immaterial in FY25, as such ESSA have not recorded this in the accounts in line with our accounting policy

ESSA has an overseas legal entity in Ghana. This entity is fully controlled by ESSA and its accounts are consolidated within the accounts of ESSA.

historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

sustainability, including fundraising prospects and cash flow projections through to September 2027. Based on forecasts of secured income, opportunities within the pipeline projects — some of which have already materialised, including the SEA II provision of services contract valued at USD 336,000 — and the ongoing work being undertaken by the fundraising consultants, New Global Markets, the Trustees are satisfied that,

even under a worst-case scenario of no additional funding, ESSA would have sufficient financial runway to continue operating until at least September 2027.

During this period, the Executive will continue pursuing additional income streams to further extend ESSA’s reach and impact beyond this horizon. On this basis, the Trustees consider it appropriate to prepare the 2024/25 financial statements on a going concern basis.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

expenditure instructions which are laid out by the donor that fall within the wider purposes of the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from grants is recognised on an accruals basis and included in the Statement of financial activities when the charity is entitled to the income, when receipt is probable, and when it can be measured reliably. Grants that are subject to performance-related conditions or subject to funder conditions related to the timing of expenditure are deferred until those conditions are met.

Donated goods and services are recognised as income when they are received and used by ESSA. The goods and services are measured at fair value to ESSA.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

EDUCATION SUB-SAHARAN AFRICA (ESSA) 35

Grants are recognised as a liability once the charity has a legal or a constructive obligation to make a distribution to a third party.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

Support costs are allocated among charitable activities, fundraising, and governance based on the nature of the cost and the estimated level of staff time and organisational resources utilised in each area during the financial year.

Personnel-related costs are apportioned primarily based on expected staff time and responsibilities across programme delivery, fundraising, grant management, and support functions. Other support costs, including administrative and operational overheads, are allocated using appropriate drivers such as staff usage, activity levels, and the extent to which the costs relate to programme delivery or organisational support activities.

Governance costs comprise the public accountability of the charity and compliance with statutory and regulatory requirements, including statutory audit and legal fees, as well as an appropriate apportionment of shared support and overhead costs.

Services received on an ‘in kind’ basis are accounted for at the cost the charity would otherwise have to pay for the same services.

subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts.

1.8 Financial instrument s

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

schemes are charged as an expense as they fall due.

1.11 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

36

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following matters contain assumptions or estimates affecting income at the balance sheet date:

Note 2 Donations and grants - Grants receivable.

Note 3 Analysis of expenditure - Grant expenditure.

2. Donations and grants

Restricted funds Unrestricted funds Total Total
2024/25 2024/25 2024/25 2023/24
£ £ £ £
Gifts and Donations - 35,065 35,065 16,735
Grants Receivable 3,548,608 607,218 4,156,724 1,418,225
3,548,608 642,283 4,190,891 1,434,960

3. Analysis of expenditure

Activities directly
undertaken		 Grant funding
of activities		 Support
costs		 Total Total
2024/25 2024/25 2024/25 2024/25 2023/24
£ £ £ £ £
Raising funds:
Costs of raising donation & grant
income		 96,440 - 7,222 103,662 81,798
Charitable activities:
Quality of university and college
education		 69,478 29,036 5,160 103,674 100,063
Young people’s transition from
education into work		 74,663 - 8,166 82,829 36,313
Building a knowledge ecosystem for
education		 737,371 579,708 101,778 1,418,857 1,022,535
Monitoring, Evaluation and Learning 190,130 - 11,632 201,762 140,398
Increasing the infuence of our
research		 127,757 23,228 14,955 165,940 208,521
Foreign exchange loss/(gain) - (11,607) (11,607) 65,995
Total 1,295,839 631,972 137,306 2,065,117 1,655,623

EDUCATION SUB-SAHARAN AFRICA (ESSA) 37

3. Analysis of expenditure (continued)

Grants were awarded to 7 organisations (2023/24: 6); and 51 individuals. A full list of institutional recipients is provided below:

Organisation 2024/25 2023/24
£ £
Association of African Universities 32,360 7,986
Inter-University Council of East Africa 65,481 43,436
Population Reference Bureau 24,195 29,455
The REAL Centre (University of Cambridge) 125,058 95,452
Southern Hemisphere 39,650 68,555
ZiZi Afrique Foundation 3,722 13,866
,
ADEA 160,055 -
Individuals 181,451 -
Total 631,972 258,750

Future commitments

Future commitments relating to charitable work carried out by other organisations on behalf of ESSA, amount to £342,631 (2023/24: £154,909). These relate to multi-year contractual commitments for future periods. As the related services and obligations had not arisen as at the reporting date, the amounts did not meet the criteria for accrual and have therefore been disclosed as commitments.

38 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

4. Support and governance costs

Support costs

Raising funds Charitable activities Total Total
2024/25 2024/25 2024/25 2023/24
£ £ £ £
Personnel costs 5,615 59,207 64,822 115,892
Other support costs 1,607 24,533 26,140 27,390
Governance costs - 57,951 57,951 29,081
Foreign exchange losses/(gains) - (11,607) (11,607) 65,995
Total expenditure 7,222 130,084 137,306 238,358

Governance costs

Raising funds Charitable activities Total Total
2024/25 2024/25 2024/25 2023/24
£ £ £ £
Legal and professional - 1,415 1,415 1,918
Board meetings - 5,051 5,051 26
Audit - 51,485 51,485 27,857
Total expenditure - 57,951 57,951 29,801

The net result for the year is stated after charging auditor fees of £42,248, inclusive of VAT (2023/24: £23,160).

Auditor remuneration, presented net of VAT, includes the 2024/25 audit fee of £22,150 relating to the financial year 2024/25, the 2023/24 audit fee of £19,300 relating to the financial year 2023/24, and prior year audit overruns of £13,057 relating to the 2023/24 audit (2023/24: £19,300 representing the FY2023/24 audit fee only, excluding overruns).

EDUCATION SUB-SAHARAN AFRICA (ESSA)

39

5. Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year (2024/25: 0). Trustees’ expenses, covering costs directly incurred by Trustees and those paid on their behalf by ESSA, amounted to nil for the year (2023/24: 0).

6. Staff costs

The following number of employees received employee benefits (excluding employer pension costs) during the year between:

Consolidated Consolidated
2024/25 2023/24
£ £
Staff costs:
Wages and salaries 915,000 780,933
Social security costs 69,000 62,118
Pension costs 34,000 17,828
Total expenditure 1,018,000 860,879

The following number of employees received employee benefits (excluding employer pension costs) during the year between:

Consolidated Charity
2024/25 2024/25 2023/24
No. No. No.
£60,000 - £69,999 1 - -
£70,000 - £79,999 - - -
£80,000 - £89,999 1 1 1
£90,000 - £99,999 1 1 -
£100,000 - £109,999 - - 1

40

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

The total employee benefits including pension contributions and employer's national insurance for key management personnel were £326,734 (2023/24: £337,052).

The average number of employees (headcount based on number of staff employed) during the year was:

Consolidated Charity Consolidated Charity
2024/25 2024/25 2023 /24 2023 /24
No. No. No. No.
Management and administration 3 2 4 3
Project management and support costs 28 15 24 12
Total 31 17 28 15

2024/25 2024/25
Computers
Consolidated Charity
£ £
COST:
At 1 October 2024
8,694		 5,372
Additions
3,011		 1,997
Disposals
-		 -
At 30 September 2025
11,705		 7,369
DEPRECIATION:
At 1 October 2024
2,327		 1,388
Charge for the year
3,247		 1,672
Disposals
-		 -
At 30 September 2025
5,574		 3,060
Net book value:
At 30 September 2025
6,130		 4,310
At 30 September 2024
6,456		 3,984

EDUCATION SUB-SAHARAN AFRICA (ESSA) 41

8. Debtors

Group Charity
2024/25 2023/24 2024/25 2023/24
£ £ £ £
ESSA LBG - - 284,138 203,365
Prepayments 5,625 7,572 1,859 5,565
Accounts receivable - 30,208 -
30,208
Accrued income 805,167 764 805,167 765
810,792 38,544 1,091,164 239,903

9. Creditors: amounts falling due within one year

Group Charity
2024/25 2023/24 2024/25 2023/24
£ £ £ £
Other taxation and social security 2,651 2,423 2,556 2,351
Trade creditors 3,744 2,126 3,476 494
Grant creditors 180,967 - 180,967 -
Other creditors 2,025 1,718 2,025 1,718
Accruals and deferred income 75,757 51,405 54,814 35,560
265,144 57,672 243,838 40,123

Deferred income relates to funds received from donors where the related performance conditions or delivery requirements had not been met at the reporting date, and therefore recognition has been deferred to a future period.

Deferred income in the current year of £11,000 relates to funding received from the REAL Centre in advance of the delivery of an ECD workshop originally scheduled for September 2025 and subsequently rescheduled to February 2026 (2023/24: £nil).

Grant Liabilities

2024/25 £ 2023/24 £
Grant liability bf -
New grant liability during the year 180,967 -
Grant liability cf 180,967 -

42

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

10. Movements in funds Statement of Funds – Current Year

Brought
forward		 Income Expenditure Transfers
in/(out)		 Gains/
(Losses)		 Carried
forward
£ £ £ £ £ £
Unrestricted Funds
General fund 1,469 643,181 (359,290) - 285,360
1,469 643,181 (359,290) - - 285,360
Restricted Funds
Enhancing Education Research in
Africa (EERA)		 (2,364) 32,932 (20,265) 10,303
EERA2 61,443 (60,944) 499
GPE-KIX (9,250) 62,457 (67,291) (14,084)
GPE-KIX2 69,883 (27,393) 42,490
ACSL 1,124,516 (187,942) 936,574
IDRC 946,648 (243,059) 703,589
T-TEL 94,677 304,772 (271,367) 128,082
BAC InHive (318) 14,941 (7,348) 7,275
Carnegie Corp of New York 116,760 83,438 (150,750) 49,448
Bill and Melinda Gates Foundation - 393,751 (219,907) 173,844
Conrad N. Hilton Foundation 552,195 453,827 (449,560) 556,462
751,700 3,548,608 (1,705,826) - - 2,594,482
Total funds 753,169 4,191,789 (2,065,117) - - 2,879,842

EDUCATION SUB-SAHARAN AFRICA (ESSA) 43

Enhancing Education
Research in Africa		 Enhancing Education
Research in Africa		 Enhancing Education
Research in Africa		 This project is funded by Echidna Giving, Imaginable Futures and the Jacobs
Foundation over 18 months (from June 2023 to June 2025), covering East
(EERA & EERA2): Africa, West Africa, and Southern Africa. The primary purpose being to work
with African researchers to determine the prerequisites for establishing a
strong and sustainable African education research system, led by local
researchers and supported by locally generated evidence that can be used
both locally and internationally to enhance education.
Global Partnership This funding supports the work of the Unlocking Data Initiative, a
for Education consortium of partners including ESSA, eBASE (Cameroon), CERT (Malawi),
(GPE-KIX): Zizi Afrique foundation (Kenya) and the EdTech Hub (global). The work
focuses on increasing access to education data for policy-relevant
analysis by researchers.
Transforming ESSA is one of 14 partners in a consortium led by T-TEL to deliver the
Teaching, Education Leaders in Teaching (LiT) Programme, funded by the MasterCard
and Learning (T-TEL): Foundation. The primary goal of the programme is enhancing teacher
training, retention, and motivation at the senior high school level in Ghana,
with ESSA’s role being to act as a learning partner which involves providing
evidence derived from research and evaluation to enhance the
implementation of the programme.
BAC-IN: The Building Alumni Communities through Impact Networks (BAC-IN) works
with partner universities to strengthen alumni networks. The work is led by
the NGO InHive and ESSA acts as the Monitoring, Evaluation, Research and
Learning partner.
Carnegie Corporation
This is a 2-year project funded by the Carnegie Corporation of New York to
of New York (DAF expand our previous Demographics of Faculty work in Ghana to the East
EAC): African Community as part of a consortium with the Association of African
Universities, the Inter-University Council of East Africa and Population
Reference Bureau. The project fnished in June 2023. We have received
additional funding to continue the project in phase 2, starting in November
2023 and continuing through October 2025.
Bill and Melinda This project seeks to identify and connect African education researchers
Gates who are working to improve the foundational learning of African primary
Foundation: school children. ESSA is partnering with the REAL Centre again to map
researchers, their institutions and the evidence they are producing in four
countries: Ghana, Kenya, Senegal and Tanzania.
Conrad N. This project focuses on understanding the ecosystem of Early Childhood
Hilton Development (ECD) researchers and their needs in Ghana, Kenya, Tanzania,
Foundation: and Uganda (with desk-based research for Mozambique). ESSA is
collaborating with the Research for Equitable Access and Learning (REAL)
Centre to implement this project.

44 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Statement of funds – Prior Year

Brought
forward		 Income Income Expenditure Foreign
Exchange		 Transfers Carried
forward
£ £ £ £ £ £
Unrestricted Funds
General fund 178,942 32,845 (159,190) (65,995) 55,722 42,324
Adjustment for hyperinfation (40,855) (40,855)
Total Unrestricted Funds 138,087* 32,845 (159,190) (65,995) 55,722 1,469
Restricted Funds:
Enhancing Education Research in
Africa (EERA)		 106,792 39,348 (148,504) - (2,364)
GPE -KIX - 21,620 (30,870) - (9,250)
Transforming Teaching,
Education and Learning(T-TEL)		 128,743 213,843 (226,525) - (21,384) 94,677
BAC InHive - 35,995 (36,313) - (318)
Carnegie Corp of New York (166) 218,017 (101,091) - 116,760
Bill and Melinda Gates
Foundation		 60,894 270,730 (324,889) - (6,735) 0
Global Social Impact Challenge 1,296 - (1,172) - (124) 0
Conrad N. Hilton Foundation 522,075 618,672 (561,073) - (27,479) 552,195
Total Restricted Funds 819,634* 1,418,225 (1,430,437) - (55,722) 751,700
TOTAL FUNDS 957,721 1,451,070 (1,589,627) (65,995) - 753,169

Global Partnership for Education Knowledge and Innovation Exchange (GPE-KIX):

This funding supports the work of the Unlocking Data Initiative, a consortium of partners including ESSA, eBASE (Cameroon), CERT (Malawi), Zizi Afrique foundation (Kenya) and the EdTech Hub (global). The work focuses on increasing access to education data for policy-relevant analysis by researchers.

BAC-IN:

The Building Alumni Communities through Impact Networks (BAC-IN) works with partner universities to strengthen alumni networks. The work is led by the NGO InHive and ESSA acts as the Monitoring, Evaluation, Research and Learning partner.

EDUCATION SUB-SAHARAN AFRICA (ESSA)

45

11. Analysis of net assets between funds

Unrestricted
funds		 Restricted
funds		 Total Total
2024/25 2024/25 2024/25 2023/24
£ £ £ £
Fund balances at 30 September 2025 are
represented by:
Tangible assets 6,130 - 6,130 6,456
Current assets/(liabilities) 279,230 2,594,482 2,873,712 746,713
285,360 2,594,482 2,879,842 753,169

from operating activities

2024/25 2023/24
£ £
Surplus/(defcit) for the year 2,126,673 (204,553)
Adjustment for:
Depreciation charge 3,247 2,417
Foreign exchange losses (gains) (11,607) 65,995
Revaluations - (40,855)
Interest income - (439)
(Increase)/decrease in debtors (772,248) 365,113
Increase/(decrease) in creditors 207,472 (73,980)
Net cash used by operating activities 1,553,537 113,698

46

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

13. Related party transactions

Donations totalling £33,200 (2023/24: 14,000) were received from related parties (Board Chair) during the year.

Education Sub-Saharan Africa was registered as a Company Limited by Guarantee (LBG) (Registration No. CG034110622) in Ghana in June 2022, and as a Non-Profit in Ghana (Non-profit Organisation Licence No. NPOS/GRO1/LNO552/23) in March 2023, with the oversight of a National Board of Trustees. The Board of Trustees in Ghana is comprised entirely of current and former Trustees and representatives of the Senior Leadership Team of the charity, and it is through this mechanism that ESSA is considered to have control.

ESSA pays some staff costs and other expenses on behalf of LBG and these are charged back to LBG via an intercompany account. In the year ESSA paid ESSA LBG staff costs of £143,225 (2024: £89,578) and other expenses of nil (2024: £16,021).

ESSA LBG also pays some staff costs on behalf of ESSA. In the year ESSA LBG paid ESSA staff costs of £60,636 (2024: £45,490).

ESSA LBG receives some funding directly from donors of which is used to cover costs paid by ESSA and is transferred back to ESSA to cover these costs via an intercompany account. In the year ESSA received income from ESSA LBG of £225,589 (2024: £59,782).

ESSA also transfers funds to ESSA LBG to cover operational running costs, and in the year, this income to ESSA LBG was nil (2024: 297,946).

As at 30[th] September 2025, the net position of these transactions was that ESSA was owed £284,138 (2024: £203,365) by ESSA LBG.

ESSA LBG
2024/25 2023/24
£ £
Assets 534,458 225,874
Liabilities 298,779 220,914
Equity 235,679 4,960
Income 903,358 314,868
Expenditure 685,887 397,633
FX gain - 4,395
Surplus/(Defcit) 214,470 78,370
FX difference on opening funds due to hyperinfation - 40,855
Net movement in funds 214,470 119,225

EDUCATION SUB-SAHARAN AFRICA (ESSA) 47

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As ESSA approaches its 10 [th] anniversary in 2026,
we reflect on a decade of evidence-driven
Celebrating
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ESSA - Education Sub Saharan Africa
Education Sub Saharan Africa (ESSA)
@ESSA_Africa
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ANNUAL
REPORT
AND FINANCIAL
STATEMENTS
FOR THE YEAR ENDED
30 [TH] SEPTEMBER 2025
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Published by:

Education Sub-Saharan Africa X: @essa_africa Website: www.essa-africa.org