St. Monica's has grown out of St Stephen's Playschool, which first opened its doors in 1990 in response to the community's expressed needs. During 1993, it became clear that the demand for English medium education in Matatiele was such that the existing schools could not cope on their own.
The St Stephen's Playschool community then approached the Church authorities with the request to facilitate the opening of a school. The school opened on 18 January 1994 with 24 children in two classes. In 2014, the school offered its first grade 12 classes with an enrollment of 740 learners and 56 staff members.