Oral East Africa
Schools facing the demand for infrastructure upgrades to meet new education curriculum are getting offers from banks to help set up extra classes, dorms, and equipment under flexible payment terms.
Private school cash flows are tied to fee payment schedules most of which is committed to operational expenditure while state schools rely on state capitation for investments.
Family Bank is offering Inua shule where schools can access up to Kes10 million for schools expanding to accommodate junior secondary school with attractive interest rates and flexible repayment plans.
The bank is also offering asset financing for school buses the covers 100 percent of the vehicle encouraging schools to acquire the means and logistics to expand coverage.
“Whether you are expanding your campus, upgrading your facility stocking up on essentials or just working capital, Family Bank Inua Shule loans offer 90 per cent financing for classrooms to libraries, ensure students have access to clean water and sanitation for wash financing,” Phyllis Kimani, Family Bank Chief Retail Officer, said.
Read Also: How paying school fees for small scale farmers paid Family Bank with a kes149 million cheque
Kenya has made significant investments in its new Competency-Based Curriculum (CBC), reflecting a transformative shift in its education system with government setting aside hundreds of billons to equip schools for the change.
CBC Investments
Kenya’s investment in the CBC is robust but faces execution challenges, including transition disruptions especially for Grade 9 students who remain in primary schools, creating logistical gaps and reduced motivation for secondary transition.
To meet these challenges the education sector will need to work tith the financial institutions to help fiancé the expansion to provide the requisite facilities to meet curriculum goals without straining the resources of the schools.
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