Nairobi-based Ed Partners has raised financing capital from three impact investment firms to enable it to expand its lending activities to the affordable private school market. Between them, Acumen, Investisseurs & Parternaires, and Zephyr Acorn are providing $1.9 million which Ed Partners will use to provide credit facilities to private schools in Kenya which typically find it difficult to find loans from mainstream credit providers.
“Affordable privates schools have found it extremely difficult to access formal credit due to arduous application processes and limited collateral,” said Ed Partners’ CEO Amos Mwangi. “Mainstream financial institutions lack the operational insight to lend to this school segment, further exacerbating an already credit-starved sector.”
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