In addition to the Seed Investment from DOB Equity and the USD 9.5 million in funding from the Mastercard Foundation, Moringa is thrilled to have recently obtained an investment from Proparco to help its expansion outside of Kenya. This has allowed the technology-based learning institution to begin training Software Engineers in Ghana and Nigeria, with plans to expand to other African nations within the next 12 months. Moringa, a career accelerator for Tech professionals in Africa, has been training High School/University Graduates to become Software Engineers and Data Scientists in Kenya for the past seven years, achieving market leadership by training over 4,000 students with an employment rate of over 85%.
“The investment comes at an exciting time for Moringa as the institution expands to Ghana and Nigeria. We are keen to leverage this partnership to train many more students using the leading US Bootcamp curriculum from Flatiron School. In line with our vision of a world in which anyone can create their future, we welcome the support of Proparco to make our courses available in new markets in Africa,” Snehar Shah, Moringa’s CEO said.
Proparco’s investment will help Moringa prepare for Series A funding in 2023. Apart from international expansion outside of Kenya, the money from Proparco will also allow Moringa to increase the number of courses it offers. The college now provides Software Engineering, Data Science, and Soft Skills courses, with intentions to add UI/UX design courses in the near future.
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Why The Investor Invested
According to Françoise Lombard, Proparco’s CEO “Supporting the African tech ecosystem is one of Proparco’s key priorities. Through our investment in Moringa, Proparco is proud to support an ambitious Edtech in its expansion in Africa and thus contribute to bridging the skills gap that has been affecting the growth of startups on the African continent”.
The investment comes at an exciting moment, as Moringa recently signed a curriculum licence agreement with the world’s premier coding boot camp, Flatiron School, and received ISO 9001:2015 accreditation. The scenario is set for Moringa to play a big role in fostering African tech talent and connecting it to meaningful and substantial earning opportunities, whether through full-time employment, the gig economy, or entrepreneurship.
Google published the Africa Developer Ecosystem study in 2021, indicating that there has been a growth in worldwide demand for remote tech expertise, which has been driven by the epidemic, resulting in additional job prospects for African technology workers. According to the report, African companies, which employ more than half of all local developers, raised more than $4 billion in 2021–2.5 times more than they did in 2020. With 22 percent of Sub-Saharan small and medium-sized businesses using the internet for the first time or expanding their use, the demand for web development skills is growing rapidly. Increased demand for remote development work has also resulted in more chances; 38% of African developers work for at least one organisation situated outside of the continent.
A Look At What Moringa Does
Founded in 2014, Moringa gives everyone access to the training and network needed to participate in this technological revolution if anyone can demonstrate the aptitude and mindset required to succeed. This is part of the company’s objective to develop talent and opportunity through technology-based learning. Following recent launches with Impact Hub Accra and Social Enterprise Ghana, Moringa and Plenty Tech Jobs Nigeria have formed a market entrance agreement in which Moringa will become a leading supply of tech talent to the Nigerian workforce. Plenty Tech Jobs is a prominent portal in Nigeria for discovering the greatest technology jobs and remote employment.
Moringa takes pride in training over 4,000 students and placing over 85 percent of its graduates in top corporations throughout Africa and the world. Safaricom, I&M, Andela, Sanlam, Microsoft, Cybertek, and Dalberg Data Insights are among the major firms where our alumni have been placed. Moringa was named one of the top 50 Edtech firms in Africa by HolonIQ in 2020. Following its research into technology boot camps, the World Bank named Moringa School a leader in the field. Moringa School was been named one of the World Economic Forum’s “Technology Pioneers in 2021.”
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Moringa is developing world-class developers in Africa through a unique learning paradigm and a curriculum cooperation with Flatiron School, the top US boot camp.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh