“By offering customized loan solutions, we aim to reduce the financial barriers that many private schools face,” said Mr. David Wangai, Executive Director of MyCredit Limited. “This will help schools improve operations, expand their capacity, and continue delivering quality education to students across the country.”

Mr. Wangai emphasized the broader vision behind the initiative, stating, “This funding represents a transformative step toward reshaping the future of education in Kenya. We are excited about the positive impact it will have on the education sector and the wider community.”

The financing also includes a green component, enabling schools to adopt environmentally friendly technologies and practices. This aligns with global efforts to combat climate change and promote sustainability within education.

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The demand for private education in Kenya has grown significantly over the past two decades.

According to the Kenya National Bureau of Statistics, the number of private primary schools increased by 773% between 2003 and 2017, compared to a 33% growth for public primary schools. Private secondary schools also saw a 216% increase, outpacing the 154% growth of their public counterparts.

Official records show that the number of private schools rose from 7,742 in 2014 to 16,594 in recent years. This surge is driven by a growing population, a rising demand for quality education, and constraints such as limited land availability for constructing public institutions.

The roots of this shift trace back to the education reforms of 2003, which led to a dramatic increase in enrollment, with public schools absorbing 1.3 million additional pupils in a single year. Since then, private institutions have played a critical role in bridging gaps in access and quality.