Acumen backs education sector in Kenya

Acumen, a global social impact investor, has made an investment in Ed Partners Africa, a financial institution that provides affordable private schools in Kenya with financing to enable the development of school infrastructure.

“Affordable private schools in Kenya play an important role in delivering education and can be integral to breaking the cycle of poverty,” said Abdulkarim Mohamed, portfolio manager at Acumen. “We are excited to support Ed Partners Africa with the first investment from our Education Facility and will work with them to strengthen school infrastructure and improve access to quality education for children from low-income households.”

Approximately four million Kenyan students are educated in affordable private schools, which charge $300 or less per annum. However, more than 80% of these affordable private schools do not have access to bank loans. Ed Partners is filling this gap and providing schools critical access to credit that can help expand classrooms, purchase school buses, build sanitation facilities, and more.

Ed Partners is currently servicing 142 affordable private schools, which are educating 41,000 students. Ed Partners’ approach has proven successful: 71% of the schools receiving funding report an increased quality of their school.

“Ed Partners and Acumen share a commitment to the improvement of education quality in Kenya and we are delighted to have Acumen onboard together with I&P and Zephyr as new investors,” said Amos Mwangi, CEO of Ed Partners Africa. “With this additional investment, we will be able to extend much-needed funding to more affordable private schools in Kenya.”

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