Ed Partners Africa, an African non-banking financial institution specializing in infrastructural loans for transformative projects, recently secured a $1.5 million debt funding from social impact investor Oikocredit. This funding is geared toward empowering low-income individuals across Africa, Asia, and Latin America to improve their living standards sustainably.
Founded in 2018 by Lydia Koros and David Fitzherbert and currently led by CEO Amos Mwangi, Ed Partners Africa’s mission is to provide access to quality education. The platform provides infrastructural loans to facilitate the construction of new classrooms, washrooms, laboratories, dormitories, and the acquisition of computers, buses, vans, and internet connectivity for schools. Additionally, the firm leverages its expertise in the affordable private schools market to offer advisory services through its beyond loans program to help with school management and ensure long-term success for all education stakeholders.
On the fundraising, CEO 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.”
Through this funding collaboration, Ed Partners Africa 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, said: “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, Ed Partners Africa 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.
As teachers, it is heartening to witness the positive impact of Ed Partners Africa’s initiatives. Through their infrastructural loan and beyond loans programs, teachers can now access quality resources and support to help them deliver effective learning to their students. We look forward to the positive outcomes of this collaboration in the near future.
