Through the co-branded online platform with Craydel, APA Life Assurance will provide access to financial products such as investment plans, fixed savings, and education plans for parents who want to save for their children’s education
Catherine Karimi, chief executive of APA Life Assurance said.” 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.”
Craydel was launched in 2021 by co-founders Manish Sardana, John Nguru and Shayne Aman Premji. It was inspired by the lack of a reliable platform in Africa to guide decisions on college and course selection.
Craydel provides students with options at every level, including online certificate programs, for which they can enroll for trial before settling on a final decision about the careers they want to pursue.
Last year the startup secured $1 million in a pre-seed round that to improve its search and recommendation technology and enhancing its online resources.
“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,” said Mr Manish Sardana, founder and chief executive of Craydel.
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 programmes.
Spending on education in Africa is expected to grow to $740 billion by 2030, at a 14 percent compound annual growth rate, reaching $57 billion by 2030 Ms Karimi 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,” said Ashok Shah, Apollo chief executive.