OikoCredit and Opportunity International have partnered for a $100 million education fund over the next three years, aimed at increasing access to education for children from low-income families.
The program targets financial institutions providing capital and training in the education sector to enable provision of critical resources such as classrooms, washrooms, dormitories and adequate teachers.
Countries set to benefit from this program are Ghana, Kenya, Nigeria, Senegal, and Uganda. The program also intends to expand its reach in Africa, Latin America, and Asia, to contribute materially to the advancement of the Sustainable Development Goals.
In September this year, Sidian Bank signed a KSh990 million deal with Oikocredit that will enable the bank to support onward lending to the SME sector in Kenya. The funding will be utilized to support the bank’s growth plans to further its strategy of providing affordable credit to its SME clients and privately-owned business enterprises as it works towards empowering entrepreneurs realize their potential through providing tailor-made financial solutions.
Oikocredit is a cooperative society that offers loans or investment capital for microfinance institutions, cooperatives and small and medium-sized enterprises in developing countries. It is one of the world’s largest private financiers of the microfinance sector.
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