Ed Partners, a startup based in Kenya, has received $1.5 million in debt funding from Oikocredit, an investor in social impact, in order to offer private schools more reasonable financing options.
Ed Partners, which was founded in 2018 by Lydia Koros and David FitzHerbert and is now run by CEO Amos Mwangi, offers funding solutions for essential components of the educational system, such as infrastructure, technology, and transportation.
350 schools have already seen its effects, which have affected over 100,000 children.
The company offers loans to fund the construction of new classrooms, restrooms, laboratories, and dorms as well as the purchase of computers, buses, vans, and internet connectivity for educational institutions.
“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,” according to Mwangi.
The partnership, according to Lewis Nyaga, Oikocredit’s investment officer for East and Southern Africa, has created prospects for the implementation of cutting-edge educational initiatives like curriculum creation, teacher training programs, the integration of educational technologies, and research projects.
According to Nyaga, “These initiatives will enhance the quality of education, improve access to learning resources, and foster sustainable development in African communities.”
The funds would be used to offer private schools in Kenya more affordable loans.
Read more on Tech Gist Africa:
Zuri Health, a startup based in Kenya, has raised additional funding
Revivo, a B2B startup for electronic parts in Kenya, has raised $635k in a pre-seed round of funding
Peach Cars, a marketplace for used automobiles in Kenya, raises $5 million in seed funding
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