WASHINGTON, D.C., Sept. 15—The International
Finance Corporation (IFC) has just released a study entitled "The
Business of Education: A Look at Kenya’s Private Education Sector,"
which breaks new ground for the Corporation as it examines private education
in a developing country from the business point of view. The study found
that, over the years, demand for education in Kenya has greatly outpaced
supply, creating a gap which has been partly filled by private schools
catering to the needs of a wide range of socio-economic groups. Kenyan
private educational institutions, however, face a number of serious constraints,
stemming primarily from inadequate finance and, in many cases, limited
management skills. The paper focuses on conditions under which private
financial institutions might play a useful role in providing the needed
finance to develop the education sector.
The authors of the paper are Yannis Karmokolias and Jack van Lutsemburg
Maas. Karmokolias, a Greek national, is a senior economist with IFC. He
has previous experience at the World Bank and in the private sector in
Africa, North America and Europe.
Jack van Lutsemburg Maas, a U.S. national, is currently IFC’s lead education
specialist. He has over 20 years experience in the World Bank’s education
sector in Africa, East Asia and Latin America. He has taught in public
schools in the U.S. and at Uganda’s Makarere University.
IFC, a member of the World Bank Group, is the largest multilateral source
of equity and loan financing for private sector projects in developing