Bridge International Academies is looking at an unstable future, at least financially following the withdrawal of the International Finance Corporation (IFC) as their sponsor.
The International Finance Corporation (IFC) was resorted to stopping funding Bridge International Academies following protests from activists who argued that the schools are organizations that benefit their owners.
The World Bank’s private-sector lending arm revealed that it had stopped investing in NewGlobe schools, the parent company of BIA which is effective as from March 3, 2022. At that moment, they had invested more than ten million dollars (Kshs. 1.14 billion) in the organization since the year 2013.
The revelation comes after concerns were raised over the low-cost schools flouting government regulations and exposing their learners to unsanitary conditions.
“IFC has stopped investing in NewGlobe Schools, Inc (the parent company of Bridge International Academies), effective March 3, 2022,” said IFC in an update dated March 9.
Education Internation (EI), which is a global federation of teachers’ trade unions, has been at the forefront in leading efforts to have the IFC stop supporting the Bridge International Academies.
Bridge international runs schools in the country’s low-income areas with the intention of helping learners of parents that earn less than two dollars a day.
“We welcome the decision which has been the main demand from teachers in Africa and call on other Bridge International Academies investors to follow the IFC’s lead,” said the general secretary David Edwards in a statement.
The protestors have insisted that quality education is a basic right and have campaigned against a profit-oriented institution that has been accused of exploiting low-income communities.
“So many children in today’s world are denied access to education, allocating scarce funding to anything but public education is totally not acceptable,” said Edwards.
According to EI, investing in profitable organizations such as the BIA is strongly against the global commitment to inclusive and equitable quality free education for all learners in following with Sustainable Development Goal (SDG) 4.
In a 2017 report from the United Kingdom’s Members of Parliament, it is has been revealed that Bridge is “a contentious partner”.
In Uganda, it was revealed that children have been taught in poor facilities and sanitary conditions.