Chancen International targets 60,000 students by 2029

Chancen International is expanding its outcomes-based education financing model across Africa, aiming to finance 60,000 students and deploy $130 million by 2029. The Kigali-based social enterprise has already financed 10,000+ students, raised $30 million from about 20 impact investors, and reports repayment above 95%.

Why it matters: - Chances International is betting that education can be financed like an investment in future earnings, not a loan based on family wealth. - The model could help fill a widening funding gap as aid budgets tighten and youth workforce programs lose grant support. - The company’s growth target would make outcomes-based student financing more visible as a possible asset class for local financial institutions.

What happened: - Chancen International said it plans to expand across Africa and finance 60,000 students by 2029. - The Kigali-based social enterprise also set a target of deploying $130 million in student financing by 2029. - Chancen International has already financed 10,000+ students in Rwanda, Kenya, South Africa and Ghana. - The company has raised $30 million from about 20 impact investors. - Repayment on the existing portfolio is above 95%.

The details: - Chancen International underwrites students based on the future earning potential of the education institution they plan to attend. - Repayment starts only after a graduate gets a job and stable income. - The financing covers boot camps, vocational programs and bachelor-level degrees. - Chancen International says graduates have seen income gains of up to three times the national median. - The company says it can finance students from households earning as little as two dollars per day. - More than 60% of the students financed to date are women. - The model removes collateral requirements and allows repayment pauses during hardship or unpaid maternity leave. - Chancen International also adjusts its algorithm and income-share terms to account for potential baby breaks. - Wraparound support includes training, networking and job boards. - The company says 93% of employed female graduates earn above minimum wage, and 88% maintain strong repayment standings. - Chancen International reaches students through radio campaigns, community halls, churches and local organizations. - More than 80% of the current student base comes from rural areas. - The current applicant pipeline covers only about half of the demand. - Investors are based in the United States, Europe, the United Kingdom and Singapore. - The company noted relationships through UBS’s Optimus Foundation network.

Between the lines: - The expansion is a response to a structural shift in development finance, not just company growth. - As concessional capital gets harder to access, market-based education financing is trying to move into the space once filled by aid. - Chancen International is also positioning its model as something local lenders could eventually copy and scale.

What's next: - Chancen International plans to keep expanding in existing markets and add new ones. - The company aims to reach 60,000 students and $130 million in financing by 2029. - The broader goal is to establish outcomes-based education financing as a recognized and repeatable financial product. - Batya Blankers, co-founder and CEO, said the model is intended to deliver high impact at scale.