Kenya’s Ed Partners Africa, a non-banking financial institution that specialises in providing loans to affordable private schools, has announced the commitment of a $10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC) to help it expand access to affordable education. Founded in 2018 by Lydia Koros and David FitzHerbert, and currently led by CEO Amos Mwangi, Ed Partners provides financing options for crucial elements of the education system, including infrastructure, technology, and transport. Its impact has already reached over 100,000 students across 350 schools. The startup provides infrastructural loans to educational institutions to support the construction of new classrooms, washrooms, laboratories and dormitories, as well as the acquisition of computers, buses, vans, and internet connectivity. The loan, once disbursed, will facilitate the expansion of accessible, high-quality education opportunities in Kenya by providing essential financial support to these schools.
SOURCE: DISRUPT AFRICA