Ed Partners Africa, a non-banking finance company in Kenya, has teamed up with Oikocredit, a social impact investment, to help more Kenyans get into private schools.
Oikocredit will also give Ed Partners a loan of $1.5 million to help pay for this project.
Education is a fundamental right for all, but many Africans struggle to access healthcare, housing, and other amenities. Even in the schools that are there, problems like bad teachers and out-of-date lessons make education less good.
The goal of the new partnership between Ed Partners and Oikocredit is to help children get to school. Both groups want to have a long-term positive effect on the education sector by combining their skills and drive.
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Amos Mwangi, the CEO of Ed Partners Africa, was very happy about the news. He said, “I am thrilled by the wonderful partnership between Oikocredit and Ed Partners Africa.” This funding partnership will make it easier for Ed Partners to give loans to low-cost private schools so they can grow and improve their buildings to meet the needs of the new Kenyan education curriculum.
He also claimed his company wants to improve education, make learning resources simpler to access, and help Africa grow sustainably. His company strives to narrow the literacy gap in Kenya by identifying financial and non-financial strategies to make education more affordable. For more details, the company assists schools with bathrooms, labs, dorms, and classes.
Computers, buses, automobiles, and internet connections are also purchased by Ed Partners. Building loans allow it to undertake these things. Based on its extensive understanding of inexpensive private schools, it offers consulting services to clients. The Beyond Loans programme improves schools and gives everyone long-term prosperity.
Ed Partners has an impressive track record. It has benefited 400 schools. More than 100,000 kids in more than 20 countries go to the schools in question.
Lewis Nyaga, who works as an Investment Officer for Oikocredit in East and South Africa, was happy with how things were going. He said that the financing deal makes it possible to try new things in education, such as creating new curriculum, training teachers, integrating educational technology, and doing research.
About Ed Partners Africa Limited
Under the Companies Act, Laws of Kenya, Ed Partners Africa Limited is a registered non-bank financial services company in Kenya. The company is dedicated to making it easier for people in Africa to get an affordable education by offering both financial and non-financial options.
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About Kenya’s Oikocredit
Oikocredit is a worldwide cooperative that invests in organizations with a positive social impact. They have been doing this for 47 years, giving money to groups that work in areas like financial inclusion, agriculture, and renewable energy.
Oikocredit intends to help low-income individuals in Africa, Asia, and Latin America improve their living conditions sustainably. Loans, equity investments, and skill-building programmes accomplish this. Oikocredit has €1,049.3 million in outstanding stock, helping over 500 partners as of September 2022.