Ed Partners Africa, a non-banking financial institution that specializes in providing infrastructural loans to embark on transformative projects, has raised $1.5 million in debt funding from the social impact investor, Oikocredit, known for its commitment to empowering low-income individuals across Africa, Asia, and Latin America to uplift their living standards sustainably.
Founded in 2018 by Lydia Koros and David Fitzherbert and currently led by CEO Amos Mwangi, Ed Partners Africa aims to enhance access to affordable quality education. The platform provides infrastructural loans to support the construction of new classrooms, washrooms, laboratories and dormitories and the acquisition of computers, buses, vans, and internet connectivity. Leveraging its deep expertise and specialization 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.
Commenting on the fundraising, Chief Executive Officer of Ed Partners Africa Limited, Amos Mwangi, 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. We aim to enhance the quality of education, improve access to learning resources, and foster sustainable development in African communities.
Currently, the startup has positively impacted over 400 schools, serving more than 100,000 students across 20 counties in Kenya.
Lewis Nyaga, Oikocredit’s Investment Officer in East and Southern Africa, added:
I am delighted with the remarkable partnership between Oikocredit and Ed Partners. The funding collaboration opens opportunities for implementing innovative 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.
With this strategic funding collaboration, the Nairobi-based firm intends to provide essential loan facilities to affordable private schools to expand and improve their infrastructure in line with the requirements of the new education curriculum.
In 2021, Ed Partners Africa had raised $1.9 million (Kshs 205 million) in a seed round led by Acumen, I&P and Zephyr with participation from existing investors.
