Ed Partners Africa Limited, a Kenyan non-banking finance company, has entered into a strategic partnership with social impact investor Oikocredit to provide affordable financing to private schools in Kenya. The partnership involves a loan facility of US$ 1.5 million (KES 207 million) from Oikocredit to Ed Partners Africa.
Ed Partners Africa specialises in offering financial and non-financial solutions to affordable private schools in Kenya, aiming to enhance access to affordable quality education. The company provides infrastructural loans to support the construction of new classrooms, washrooms, laboratories and dormitories, as well as the acquisition of computers, buses, vans, and internet connectivity. Leveraging its deep expertise and specialisation in the affordable private schools market, it also offers advisory services through its beyond loans program to improve school management and ensure long-term success for all education stakeholders. Currently, Ed Partners has made a positive impact on over 400 schools, serving more than 100,000 students across 20 counties in Kenya.
Amos Mwangi, CEO of Ed Partners Africa Limited, expressed his excitement about the partnership, stating, “I am thrilled by the remarkable collaboration between Oikocredit and Ed Partners Africa. This funding collaboration will further increase Ed Partners’ capacity to offer loan facilities to affordable private schools to expand and improve their infrastructure in line with the requirements of the new education curriculum in Kenya Our aim is to enhance the quality of education, improve access to learning resources, and foster sustainable development in African communities.”
Lewis Nyaga, Oikocredit’s Investment Officer in East and Souther Africa says, “I am very delighted with the remarkable partnership between Oikocredit and Ed Partners. The funding collaboration opens up opportunities for implementation of innovating educational initiatives, such as curriculum development, teacher training programs, educational technology integration, and research projects. These initiatives will enhance the quality of education, improve access to learning resources, and foster sustainable development in African communities.”
This synergy represents a significant step forward in addressing the educational challenges faced by the continent. By combining their resources and expertise, Ed Partners Africa and Oikocredit are poised to make a lasting impact on education in Africa, contributing to the overall development and well-being of individuals and communities across the continent.
About Ed Partners Africa Limited
Ed Partners Africa Limited is a registered non-bank financial services company in Kenya under the Companies Act, Laws of Kenya. The company is committed to improving access to affordable quality education across Africa by providing financial and non-financial solutions.
For more information, please visit: https://edpartnersafrica.com
Source link : https://www.africa.com/ed-partners-africa-and-oikocredit-announce-us-1-5-million-partnership-to-fund-affordable-private-schools-in-kenya/
Author : Editor
Publish date : 2023-08-12 11:05:43