Private schools ink Ksh 2bn loan deal with National Bank – Education News| The Leading Newspaper on Education News

By Kevin Odera

Kenya Private Schools Association (KPSA) has signed a partnership agreement with National Bank of Kenya that will see the association receive a loan of Ksh 2 billion.

This comes after the government has been struggling to include private schools in their plan to fund schools that will be hosting Junior Secondary School (JSS) and Form One students next year.

The loan will be used by private schools in improving and boosting their infrastructure in order to prepare for the double transition.

Early Learning and Basic Education Permanent Secretary (PS) Julius Jwan said that the bank is important in the development of education in the country.

“The bank is charting a path, which is critical to this country when we are undergoing reinvention in the education sector. We need to appreciate the efforts made by the majority of schools in our informal settlement and those in the private sector,” said Jwan.

Charle Ochome, the KPSA chairman stated that private schools have not been getting government capitation and that the partnership between the Association and the Bank comes as a relief to many private schools.

“For over a year we have been reaching to the Ministry to fund us in the construction of laboratories and classrooms toward the transition but we didn’t manage,” said Ochome.

Peter Kioko, the National Bank of Kenya CEO stated that the bank is lending their money on learners whom he termed as future customers.

To qualify for the loan, one must be a registered member of KPSA or Alternative Providers for Basic Education and Training. The loans will also be available from December 15 at an interest rate of 11 per cent.


Leave a Reply