Opportunity International Savings and Loans Limited, (OISL) has significantly supported the education sector in Ghana.
The company has given to the education sector over GH¢20.69 million in the past eight years.
OISL believes strongly that quality education is of paramount importance because lack of education is directly linked to poverty.
Kwame Owusu-Boateng, CEO of OISL said, “Given the level of literacy in the country, Opportunity International Savings and Loans Limited finds it necessary to fund the education sector in its bid to reduce poverty and improve access to employment.
“Literacy rate in Ghana is 71.5 percent, which implies 28.5 percent of the population aged 15 and over cannot read and write,” he stated.
In view of the low literacy rate, he said Opportunity International is helping to alleviate the barriers to education through funding and capacity-building to the schools.
On his part, Nathan Byrd, the Global Head of Education Finance of Opportunity International said, “As the public sector in sub-Saharan Africa and other regions continue to struggle with funding for expanding and improving education, the private sector offers a clear, effective sustainable solution.
“The Opportunity International’s model is enabling locally owned private schools to help low-wage earners educate their families and transform their lives through affordable education.
“It is also stimulating the economy in a direct and effective way and acting as a critical catalyst to improving literacy rates while breaking the cycle of poverty.
Support To Schools
The Savings and Loans Company has disbursed a total amount of GH¢20.69 million to the education sector in various ways.
GH¢16.06 million was disbursed directly to improve private schools.
A total of 441 schools, 2,302 pupils from the primary and secondary schools and 945 students from tertiary institutions have benefited from Opportunity International’s education loans.
A Business Desk report