Leading Kenyan insurance company, APA Life Assurance, has partnered with Craydel, Africa’s largest online education platform, to offer personalised financial advice to plan and fund higher education. APA Life believes that by creating a new standard in financial planning, more students will have access to higher education in order for them to gain the necessary skills and education to obtain greater opportunities.
Through the co-branded platform with Craydel – http://apa.craydel.online – APA Life Assurance will provide access to financial products such as investment plans, fixed savings accounts as well as education plans for those parents who want to save for their children’s education. In addition, Craydel provides an online platform for access to higher education facilities and courses for students and professionals in sub-Saharan Africa.
Catherine Karimi, CEO, APA Life Assurance Limited said;
“The cost of education continues to increase, but schooling is still the best option in terms of securing a bright future for any child. A good education equips them with skills and prepares them to face the challenges of life. However, to ensure your children get the best education comes at a very high price and requires financial investments and planning. We have created a new standard for higher education financial planning that results in personalized financial plans suited for specific educational needs and aspirations.”
Spending on education in Africa is expected to grow to $740 billion by 2030, at a 14% compound annual growth rate, reaching $57 billion by 2030. Africa’s burgeoning young population provides an opportunity for the growth of companies such as Craydel, with partners as, APA Life Assurance, to provide solutions for many challenges, including those of accessibility, quality, affordability and information.
Manish Sardana, Founder & CEO of Craydel remarked;
“APA’s deep financial expertise with financial products geared towards insuring happiness for the youth combined with Craydel’s expertise in understanding and fulfilling students’ needs is a massive step forward in democratizing access to higher education. Craydel is re-engineering how students and working professionals in Africa search, discover and apply to their best-fit higher education. “
Craydel has partnered with more than 115 universities and vocational colleges in Africa and abroad and currently provides a listing of over 6,000 higher education programs.
Ashok Shah, CEO The Apollo Group said;
“Previously many people funded higher education through indebtedness, but with tuition rising faster than inflation, it is not sustainable for many families to take out higher interest rate loans and simultaneously cut expenses enough to cover university/college costs. By starting early to save for college, one will need to borrow less, if at all, when ready for college. In other words, it’s cheaper to save now, than it will be to borrow later.”