Kenya-based non-banking finance firm Ed Partners Africa has collaborated with social impact investor Oikocredit to enable more Kenyans to access private schools. Additionally, Ed Partners will get a loan facility of $1.5 million from Oikocredit to fund this project.
Education is a fundamental right for all, but many Africans struggle to access healthcare, housing, and other amenities. Even in the available schools, issues like inadequate teachers and outdated curriculums reduce the quality of education.
Ed Partners and Oikocredit’s new collaboration aims to bridge the gap between children and education. By merging their expertise and determination, both parties are keen on positively impacting the education segment for the long term.
Conveying his joy at the announcement, Amos Mwangi, the CEO of Ed Partners Africa said “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.”
He further stated that his company hopes to improve the quality of education, increase access to learning materials, and promote lasting development in Africa. His company focuses on providing financial and non-financial solutions to affordable education in Kenya, ensuring that the divide between the literate and illiterate is drastically reduced. For more context, the firm supports schools with classrooms, washrooms, laboratories, and dormitories.
Additionally, Ed Partners helps schools acquire computers, buses, vans, and internet connectivity. It does these through infrastructure loans. Using its vast experience in the affordable private schools segment, clients can also access its advisory services. These come through the Beyond Loans initiative that enhances school management and brings long-term success to stakeholders.
It’s worth noting that Ed Partners has an admirable track record. So far, it has positively impacted 400 schools. The schools in question provide 100,000+ students across 20 countries access to education.
Meanwhile, Oikocredit’s Investment Officer in East and South Africa Lewis Nyaga said he was delighted with the partnership. “The funding collaboration opens up opportunities for implementing innovating educational initiatives, such as curriculum development, teacher training programs, educational technology integration, and research projects,” he explained.
Read also: NYSC certificates will now be issued and certified on the blockchain to minimize the risk of forgery -NITDA.
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 education across Africa by providing financial and non-financial solutions.
About Kenya’s Oikocredit
Oikocredit is a social impact investor and worldwide cooperative with 47 years of experience funding organizations involved in financial inclusion, agriculture, and renewable energy. Through its loans, equity investments, and capacity-building initiatives, Oikocredit aims to enable people with low incomes in Africa, Asia, and Latin America to improve their living standards sustainably. With a total outstanding capital of €1,049.3 million (as of September 2022), Oikocredit supports over 500 partners.
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