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EduFinance June Newsletter 2019 Global Education Finance Conference
#EduFin19 "The 2019 Global Education Finance Conference brought together 33 financial institutions from across Africa, Asia and Latin America for three days of panel sessions, interactive discussions and a client school visit in Kampala, Uganda. Our EduFinance team, guest speakers and attendees shared experiences and insights into the delivery of EduFinance products and services. I was excited to see the high levels of collaboration and shared learnings about improving impact over the three days we were together, with a strong focus on the ultimate goal of getting more children into better quality schools."
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Past Issues Andrew McCusker, Head of Education Finance
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Day 1: KnowledgeSharing and ProblemSolving Our opening session highlighted a strong interest in EduFinance product innovations, particularly education insurance and savings products, with attendees brainstorming what areas of EduFinance they wanted to learn more about. The seven sessions that followed highlighted the ways in which our EduFinance Technical Assistance Facility (ETAF) and EduQuality program benefit financial partners and schools, hearing from bank managers, financial professionals and school leaders. Interactive group sessions also considered challenges such as nonperforming loans and schools' cashflow as well as how to mitigate and overcome challenges through solutions such as relationship management and restructuring.
Sessions split off into group discussions to focus on case studies and specific topics before presenting their findings to each other.
Session Spotlight We heard from school owners about the specific challenges affordable schools face and how best to use this knowledge to improve loan terms and management. The EduQuality program, including Pathways to Excellence, school development planning and teaching training, was highlighted by financial
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institutions as an effective way to reduce Past Issues portfolio risk while improving school quality.
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Key Quote “Building and maintaining relationships with the proprietors fosters better understandings of their needs and prevents delinquency. Know your client, not just on a piece of paper but as a person.” Julius Omoding, EduFinance Senior Technical Assistance Advisor for Africa
Day 2: Deep Dive into our Technical Assistance After attendees identified 'attracting foreign investment' as the most popular topic on the agenda during our first day, we heard from impact investment funds Blue Orchard, presenting the Regional Education Finance Fund for Africa (REFFA) and Kaizen Private Equity. During the six sessions of our second day, education lending and data analysis experts from the EduFinance team provided deeper insights into the work of the EduFinance Technical Assistance Facility (ETAF). Presentations included ‘The $24bn Opportunity Report’ providing analysis and projections into the affordable private school market demand globally and regionally, Business Intelligence capabilities that support partner portfolio analysis, and staff training demonstrations. Financial partners also showed a strong interest in our new EduFinance Credit Algorithm developed developed in partnership with the Gates Foundation a machine learning tool which predicts risk using borrower data in order to improve lending decisions and speed up loan disbursements.
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Attendees tested the credit algorithm tool, gaining handson insights into how it works.
Session Spotlight Financial partner ADRA Peru presented on their experience with EduFinance technical assistance, which supported research to identify market demand and design education finance products to meet ADRA’s goal to expand lending to schools and families. Since launching the new EduFinance products in May 2019, they have already shown encouraging client demand, indicating the product design is well aligned to local market need.
Key Quote “Turnaround time is one of the biggest challenges in processing the credit applications. The Credit Algorithm from EduFinance has helped us process these applications much more quickly than before.” Alex Ahabwe, Education Finance Manager, Opportunity Bank Uganda
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Day 3: EduQuality School Visit During the final day, conference attendees visited local partner school S.W Winyi Nursery and Primary, a member of the Kampala Primary School Cluster which is supported by Education Specialist Annet Wandera. Financial partners learned how the school has benefitted from each aspect of the EduQuality program, of which 1377 schools are currently enrolled in. The school showcased its School Development Plan, which includes focus on strengthening child protection policies, and impressive handmade teaching and learning materials which covered every classroom, giving students extensive opportunities to visually learn and engage.
SW Winyi Nursery and Primary School assemble before performing a welcome dance.
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Key Quote
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“Being a student at S.W Winyi has given me an opportunity to have an education, which when I am older will help me get a good job and help support my family so my parents don't have to work so hard." Student at S.W Winyi Nursery and Primary School, Kampala, Uganda
Thank you to all attendees making the 2019 Global Educaion FInance Conference such a success!
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