Access to affordable financing for high-quality post-secondary education remains a major challenge on the African continent. Only 9 percent of young Africans currently have access to tertiary education, wherein the global average is 38 per cent. The Education Commission costing model (2016) estimates that there is a $25B gap in the demand for financing tertiary education in Africa. This gap sits on top of scholarships and other government backed student lending programmes, many that have not proven to be sustainable. With Africa’s youth population predicted to reach 1 billion by 2050, addressing this issue is crucial for the continent’s economic growth, social stability, and ability to leverage its demographic advantage.

Chancen International offers an innovative financing solution aimed at increasing the lifetime incomes of excluded youth through access to high quality skills development that leads to employment. They provide Income Share Agreements (ISAs) to finance studies, filling a critical funding gap with a product that is sustainable and specifically designed to be ethical and student-centric. One of Chancen’s core strengths lies in selecting suitable Partner Education Institutions (PEIs) and designing fair and appropriate ISAs using its proprietary algorithm. They carefully select PEIs based on a rigorous due diligence process that assesses many factors including the historical salary levels of alumni students, the institution’s proximity to the private sector, and its track record in post-study employment. This process ensures the education received by students has value will likely result in employment, and sufficiently well-paying jobs to help them meet their repayment obligations    

Chancen International has financed over 4,000 students, with 5 9 percent of these women and 74 per cent coming from rural areas – creating impact where it’s needed most. Chancen’s portfolio has above average graduation and employment rates. Its Portfolio at Risk is below 5% and monthly repayments are exceeding initial projections, encouraging early indicators in proving the financial sustainability of the ISA model and showing that African youth are indeed investable. Chancen launched in Rwanda in 2018 and began disbursing ISAs in South Africa in 2022. They will begin disbursing ISAs in Kenya and Ghana in Q1 of 2024.