afb declares US$10m support to the Education Sector

Consumer finance firm afb Ghana, has launched an Education solution to support players in the educational sector of the country.

The new solution was launched in collaboration with the Ghana National Association of Private Schools (GNAPS), during its education week celebrations in Accra.

The solution, designed to address the respective needs of schools, teaching and non-teaching staff and even suppliers who conduct various businesses with educational institutions, will range from asset financing, project financing to personal loans.

Speaking at the launch, Managing Director of afb Ghana, Arnold Parker, said: “this year, we are committed to supporting the education sector with a 10-million-dollar fund to finance school projects, assets acquisition and personal loans for all parties within Ghana’s educational system.”

He added: “I am confident that this solution will help to improve Ghanaian lives as it ensures access to good quality education which is a key agenda for the government of Ghana”.

The Director of Education – Pre-Tertiary Institutions, Mrs. Catherine Appiah-Penkra, on her part, said the education of the citizenry remains a critical agenda of Government. One of the deepest concern is the collaboration of the private sector to support this agenda.

“I will commend afb Ghana for this move and encourage other players within the financial services landscape to join the course to enhance the quality of education in Ghana,” she said.

“It is my hope that with the provision of this support, owners and management of schools and other players within the value chain will take advantage of it, as well as meet their obligations in a timely manner to make this solution sustainable”.

Head of Financial Inclusion at afb, James Abuyeh, also said, “the move to launch this solution has come as a result of the insufficient financial support to players within the education ecosystem”.

He, again, mentioned that: “products from financial institutions are often designed to focus on supporting other sectors with little attention to the education ecosystem which also requires equal attention. The introduction of this solution underpins our vision to foster financial inclusion.”