Grace Ashiru
Ed Partners Africa, an innovative non-banking financial institution, is set to spark a significant transformation in the education sector, securing new funding to achieve this goal.
The Kenya-based startup, Ed Partners Africa, focuses on offering infrastructural loans to launch transformative projects. These projects span infrastructure, technology, and transport, impacting over 100,000 students across a remarkable network of 350 schools, per the data on its website.
The education-focused startup, committed to lending educational institutions money for infrastructure, raised $1.9 million in a seed round in June 2021.
Capitalizing on this momentum, the startup is now ready to leverage a freshly secured $1.5 million in debt funding from social impact investor Oikocredit. Renowned for its commitment to empowering low-income individuals in Africa, Asia, and Latin America to improve their living standards sustainably, Oikocredit’s investment aims to fuel this noble cause further.
The combined impact of these funding rounds reaches a significant sum of $3.4 million, according to data from Crunchbase.
Significantly, this strategic funding partnership with Oikocredit enhances Ed Partners ability to offer vital loan facilities to affordable private schools. This support enables these schools to expand and upgrade their infrastructure, aligning with the needs of Kenya’sKenya’s new education curriculum.
Additionally, this funding opens doors for the “implementation of innovative educational initiatives, including curriculum development, teacher training programs, integration of educational technology, and research projects,” as noted by Lewis Nyaga, Oikocredit’sOikocredit’s Investment Officer in East and Southern Africa.
