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Digital lender MyCredit has received Sh1.4 billion in funding from global impact investors Oikocredit and BlueOrchard to boost lending to Kenya’s expanding private school sector.
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The funding will offer customized loans of up to Sh10 million per school, repayable over six years, aimed at improving infrastructure, adopting educational technology, and supporting eco-friendly initiatives.
“This funding removes financial barriers for private schools, helping them grow and deliver quality education,” said MyCredit Executive Director David Wangai.
The move comes as Kenya’s private education sector experiences rapid growth, fueled by increased demand and limited public school capacity. Data from the Kenya National Bureau of Statistics shows a 773% rise in private primary schools and a 216% increase in private secondary schools between 2003 and 2017.
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The facility also includes a green financing element to encourage sustainable practices in education, in line with global environmental objectives.
