Edfin Microfinance Bank and Sustainable Education and Enterprise Development (SEED), have signed a Memorandum of Understanding (MoU) to support Affordable Private Schools with access to Finance, Quality Assessment and Training.
In a closed-door meeting which held at Edfin MFB, Lagos, on the 14th of August, 2019, the MoU, according to the partners, is a milestone achievement.
The Managing Director, Edfin MFB, Mrs Bunmi Lawson, speaking to Edugist, expressed delight in the initiative, referring to it as a landmark achievement that will bring about finance and support to the education sector.
Speaking on the uniqueness of Edfin MFB, compared to other MFBs, she noted that Edfin is the first and only MFB specialized in education and finance in Nigeria and that has set them apart from others. ‘‘Edfin was launched in 2019 and started the first project in April, where about 60 schools have been reached in Lagos.
We are working towards reaching out to more schools and that is what this partnership seeks to achieve, she stated.
During the signing, the Managing Director of Edfin MFBank, Mrs Bunmi Lawson, the Head, Inclusive Financing, Mrs Adedayo, Executive Director, SEED, Mrs Olanrewaju Oniyitan, all signed the MoU.
The Executive Director, SEED, Mrs Olanrewaju Oniyitan while speaking at the meeting, expressed her optimism about the collaboration, noting that SEED has been in the business of providing development support services to affordable private schools and has reached over 700 schools since the inception in 2016.
Speaking specifically on their mode of operations, she said, “We look out for the affordable private schools, help them understand where they are and with our quality assessment as well as training, help project them to where they should be.”
Both partners believe that with their collaboration, which involves finance and support services, the education sector in Nigeria can experience a major transformation in the journey towards attaining quality education.