The last two months at ECLOF Kenya have been both exhilarating and enlightening. I have had the opportunity to help in creating strategy for the higher education loan product at the MFI and supporting staff in setting up processes and training. Gayle and Van Anh, my predecessors at ECLOF Kenya, did an amazing job in conducting research, creating the product and helping launch it.
In May we disbursed a tuition fees loan to our first student who has since been able to continue with his education; he will complete his program next year. Recently, we helped finance education needs for our 5th student! To get to our 5th student since the program launch, we have had a period of learning and development of the higher education loan product at the partner MFI. A majority of students who did not know about the product now do. This was done in the better part of June where I visited schools within the extensive Nairobi region to talk to groups of students and individuals about the opportunities available to them through Vittana. Because of that, we now have an increased volume of applications and inquiries.
We applied some key strategies to reach the students and through each one of them, we got at least one student in the months of June, July and August. Continue reading