Ed Partners Africa, a financing company for affordable private schools, has raised KSH 205 million (USD 1.9 Mn) to extend its footprint and provide loans to the underserved affordable private school sector. The funds were raised from Acumen, I&P, and Zephyr with participation from existing investors.
Ed Partners loans are designed with specific end-uses in mind, such as expanding classrooms, purchasing school buses, or constructing sanitary facilities, and are tailored to fit the school’s financial flow and payback capacity.
The company is targeting affordable private schools that provide education to the low-income population and charge school fees of between USD 150 (Ksh 16,000) and USD 500 (Ksh 54,000) per year. Additionally, these schools are looking for loans of between USD 2 K (Ksh 200,000) and USD 70 K (Ksh 7 million) payable for up to six years.