By Nsunjo Erica
According to the Kenya Private Schools Association, about 124 private schools in the country are expected to shut down permanently following the huge accumulation of depts. This comes as a result of the closure of institutions in March.
The shutting down of these Private schools will lead to a population of over 43,000 students in search of new places of learning.
The closure of these many schools will as well lead to unemployment of about 150,000 teachers employed in private schools and a similar number of non-teaching staff who entirely rely on the institutions for their income.
Private schools unlike public ones are owned by struggling entrepreneurs who have outstanding loans they collected when starting up these schools and had given commercial banks their buildings as collateral.
However, according to Kenya Private Schools Association CEO Peter Ndoro, no bank is listening to private schools and that the government should extend a stimulus program to the private schools to cushion them.
CEO Peter Ndoro added that the private schools are on the verge of closure because most investors in the sector can no longer sustain the harsh COVID-18 economic times and many wish to back out of business.
“Very many private schools will collapse and cannot reopen in 2021…we must ask a critical question, how can we open our main source of income which is the school fees?” Posed Mr. Ndoro.
Additionally, several private schools have had their property auctioned to recover debts owed creditors, including The Precious Gift School, a private primary school in Komarok.
Leakey’s Auctioneers on Thursday last week stormed the institution and assembled metallic chairs and lockers, office desks and bookshelves, water drums, and computers as well as some motor vehicles in a bid to recover millions of money owed by the facility.
A week ago, Education CS Prof. George Magoha said teachers under respective boards of management will be paid their salaries to cushion them against the effects of COVID-19 pandemic.