Volta Capital
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Lending for Education in Africa Partnership (LEAP)

IATI Identifier: GB-COH-07627789-LEAP_Programme
Published in IATI IATI
  • date_range Nov 24, 2017
  • autorenew Implementation (Status)

LEAP (the ‘Lending for Education in Africa Partnership’) is a social lending fund that provides affordable finance to youth from low and middle-income backgrounds in East Africa who are pursuing their higher education and cannot fully cover the cost of their higher education through conventional loans, bursaries, scholarships or other means. In addition to its tailor-made loans, LEAP also offers its LEAP Fellows career readiness and financial literacy training, and forges partnerships to create pathways to gainful employment for its supported students. LEAP is managed by a dedicated team at Volta Capital, in partnership with the Mandela Institute for Development Studies (MINDS), Future First Global (FFG), Equity Group Foundation (EGF), and Lundin Foundation. LEAP has been active since late 2017 and has 528 Fellows enrolled in its programme as of 30 September 2019, across 5 Kenyan universities. Central to LEAP’s business model is the revolving nature of its social lending fund, whereby loan repayments from its LEAP Fellows are re-deployed for future cohorts of Fellows over time. At the same time, the LEAP fund leverages concessionary funding by blending it with additional private sector impact investments, as it scales and proves the sustainability of its business model.

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Sectors:
  • Higher education error
    Sector code:
    11420 - Higher education
    Sector vocabulary:
    1 - OECD DAC CRS Purpose Codes (5 digit)

Participating Organisations

Organisation Name Organisation Type Organisation Role
UK - Department for International Development (DFID) Government Funding
Volta Capital Private Sector Accountable

Transaction

Transaction Value Provider Receiver Type Date
244,592 GBP (Valued at Sep 30, 2019) circle Provider N/A circle Receiver N/A Incoming Funds date_rangeSep 30, 2019
299,306 GBP (Valued at Sep 30, 2019) circle Provider N/A circle Receiver N/A Expenditure date_rangeSep 30, 2019

Budget

0 USD
access_timeUpdated on Jul 29, 2020 08:31:43
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