VGS expands partnership in Kenya by funding two school buses for the Beacon Academy in January 2016
Nairobi, Kenya, London, UK & Austin, TX – January 2016--
The Beacon Academy (BOH) initially started as a daycare for 15 children whose mothers living with HIVAIDS were in the vocational training program in the year 2002/2003. Because of the needs being met through a variety of growing services, the Academy expanded into a primary school for up to 600 children, between 3-13 years. The Academy, which is one part of BOH, has become a model for addressing the holistic needs of women and children by creating opportunities for meaningful and sustainable living and development. BOH is indigenous and locally run by nationals. The academy is growing and proving to be self-sustainable with 60% of the students are paid and 40% scholarships attending from a local slum. Beacon Academy is 70% stable from operating fees alone.
In order to help BOH scale the academy and increase sustainability, VGS has loaned $75,000 to purchase a new NQR Isuzu 33-seater medium bus and refinance an existing 2.5 year-old NQR bus currently in use by the Beacon Academy. The bus can carry up to 50 children and has a life of approximately 10 years. The existing bus was financed with a local bank at 16%. VGS loan structure will cut that down to 6% APR. The primary use is to transport children to/from the Beacon Academy as well as school fieldtrip visits. For added revenue, the buses will also be hired out for various functions. Drivers will be employed by BOH and receive upgraded training. An assistant would also be on board to help supervise child transportation.
As the Beacon Academy expands and broadens their impact, they need more secure, reliable transportation and reduced journey times. Reliable and safe transportation directly affect school enrolment and the safety of the children as young as four, often waiting alone by the roadside for an hour or more after parents leave them for work. Transport to from school is key to attract new students and is often the first question parents ask. This allows the primary school to expand and run at optimum capacity. Apart from being used for local activities, the buses also increase the opportunities to take the children and teachers on vision trips. The impact of providing affordable, reliable transportation is expanding the horizons for the children, empowering more families with quality education as well as increasing revenue for Beacon of Hope, enabling the organization to be self-sufficient and efficient.
“The buses are so critical for the childrens education. Getting up at 5.30am, walking 7 kms to school, they arrive so tired. Now we have extra capacity with these safe and reliable buses that really do directly impact the childrens performance. Thank you to VGS and its investors for making this possible” said Jane Wathome, Founder and Executive Director.
“Beacon of Hope is in our estimation, the best example of an indigenous pro poor enterprise having impacted nearly half million children and women to date. There is a huge demand to replicate this successful model across Africa and VGS is humbled to be a small part of enabling that expansion” say Greg Vestri and Peter Mawditt.
About Vestment Global Services LLC
The VGS team has more than 50 years of active, global management experience in start-up, scale-up, transitional leadership, change management, project management, organization design and operations management across technology, banking, property development, management consulting and relief & development sectors. VGS works with innovative companies, Non-profits and individuals to integrate purpose with profit. VGS has the unique connections to invest in opportunities through a trusted network before many have the opportunity. VGS enhances those investments with strategic advisory services to equip aspiring leaders, developing platforms to scale excellence globally and innovating impact investing. For more information visit VGS at www.vestmentgs.com
About Beacon of Hope
Beacon of Hope (BOH) is a registered faith-based and community non-governmental organization originally created to address the HIV/AIDS pandemic among women in poor communities in Rongai Kenya. Founded in 2002 the dream quickly grew to include a fully equipped Medical Centre (The Healing Balm) and testing laboratory, social services staff, a Primary School (the Beacon Academy) for up to 200 children, grades 2-6, a youth resource center, a vocational training center (House of Beazelel) that can train up to 300. Learn more about Beacon of Hope: