The success of REFFA depends on the ability of its investees to increase access to finance for their countries’ education sector. This is not only a matter of funding, but also of having the proper lending technology, marketing strategy and organizational setup. REFFA will, therefore, provide its partner institutions with both loans and Technical Assistance (TA).

 

By combining funding with TA, REFFA ensures the successful implementation of education finance products and services for learners, their families and private education providers in Africa.

The details of the TA will be defined individually for each financial institution, but typically the standard package concentrates on the following areas:

 

• Analysis of the education market (including education finance products and services offered in the market) in order to assess the needs of the target group for education finance products

• Support in the design of customized education finance products based on the results of the market analysis

• Adaptation of internal processes in order to ensure successful implementation of the education finance products

• Staff training in education finance products, credit technology, etc.

• Support in the planning and execution of marketing campaigns

• Dedicated TA on quality of education and affordability

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Once the co-operation agreement is signed the participating financial institution will receive hands-on assistance from experienced consultants throughout the preparation and implementation of the new education finance products. Ownership and involvement of the institution is the key to a successful project implementation. Institutions are required to contribute with in-kind resources to the project (management & staff time, workshop costs, local transport costs office space for consultants) as well as 5% - 30% cash cost share depending on asset size, financial strength and expected financial impact of new products.

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