BlueOrchard

In a groundbreaking collaboration that promises to reshape the educational financing landscape in Kenya, MyCredit Limited, a non-banking financial institution based in Nairobi, has successfully secured a substantial USD 3 million in debt funding from BlueOrchard. 

The collaboration with BlueOrchard, an impact investment manager specializing in debt financing, underscores MyCredit’s commitment to driving positive change. The USD 3 million debt funding infusion will play a pivotal role in advancing MyCredit’s transformative initiatives, particularly in the education financing sector.

This funding is further intricately woven into MyCredit’s vision, aligning seamlessly with its strategic plan to address the financial needs of customers in education.

By specifically targeting this sector, MyCredit aims to bridge the financing gap experienced by educational institutions, presenting them with a viable avenue for securing medium-term loans that cater to their distinctive needs.

MyCredit, with its reputable license from the Central Bank of Kenya, operates as a non-banking financial institution, embodying a dedication to regulatory compliance while actively contributing to the financial ecosystem. The institution specializes in offering loans, guarantees, and insurance products to cater to the diverse needs of its clientele.

As part of its commitment to education, MyCredit provides affordable, medium-term financing to customers in the education sector, with funding options extending up to a maximum period of three years. 

READ ALSO: MyCredit’s USD 3 Million Deal with BlueOrchard: Boosting Education Financing

The strategic partnership between mycredit and blue orchard investments has resulted in the launch of the “Kuza Elimu Loan,” an education-focused product that epitomizes MyCredit’s commitment to addressing the specific financial challenges faced by educational institutions. 

In the context of MyCredit, this collaboration signifies more than a mere financial transaction; it represents a shared commitment to fostering positive change and creating sustainable impact in the education financing landscape.

MyCredit’s ambitious expansion strategy, marked by the opening of 21 branches and the subsequent plan for gradual expansion into all 47 counties and commercial centers over the next decade, heralds a significant chapter in the company’s growth trajectory. 

The gradual expansion into all 47 counties reflects a well-thought-out plan for comprehensive coverage, ensuring that MyCredit’s services reach even the most remote areas. This strategy not only addresses financial inclusion but also contributes significantly to economic development.

Noblestride Capital, also plays a pivotal role as a transaction advisor to MyCredit, offering essential advisory and consultancy services across diverse sectors. Its expertise includes guiding the issuance of a pending bills bond for MyCredit and facilitating a $10 million loan for Family Bank. 

Noblestride Capital’s services extend to capital raising, deal origination, and preliminary due diligence, aligning with MyCredit’s strategic growth objectives.

 

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