Centum Foundation invests Sh10.2m in Elimu TV
The Centum Foundation has invested Sh10.2 million ($100,000) in Elimu TV, a television station that provides the secondary education curriculum.
This is the second startup in which Centum Foundation is investing in this year after putting an undisclosed amount in Blissful.co.ke; a website that connects businesses in the weddings and events industry to prospective clients.
Centum Investments Group CEO James Mworia said in a press statement that the foundation is focused on improving communities by enabling entrepreneurship.
“Enterprises such as Elimu provide sustainable business solutions to pressing challenges on the continent,” he said.
The convertible debt or equity is expected to help the company improve its infrastructure to expand its reach over the next two years.
Jane Muthiga, a co-founder of Elimu TV, said in an interview that the station provides education opportunities for out-of-school youths and students in informal schools to enable them access quality education.
“Our students sit for the KNEC examinations as private candidates, we currently have 24 part-time teachers and six employed on a full time basis.’’
Source: Business Daily 22 February 2016