KENYA – DOB Equity, a Dutch family-backed impact investor in East Africa, has invested in Moringa School, a technology learning accelerator in Kenya, to help it capitalize on the fast-growing demand for technical-skilled professionals.
Founded in Nairobi in 2014, Moringa School offers an intensive tech education program designed to equip students with the right skillset to enter the job market and bridge the skills gap.
Moringa provides digital and professional training to students, increasing their employability and access to the labour market.
Since its inception, Moringa has effectively delivered on mandate to help bridge the skills gap – over 89% of its students finding a job within three months of graduation at above average starting salary.
Moringa teaches students advanced technological skills by offering immersive full-time courses in Software Development and Data Science.
The school has trained over 1,800 students from across East Africa since 2014.
Moringa works according to a B2B and B2C model, the latter of which has seen the company’s growth skyrocket since its inception in 2014.
The investment by DOB Equity is earmarked for regional expansion and strengthening of the technical platform.
The investment perfectly fits DOB Equity’s portfolio, as it aims to support the scalability of innovative SMEs in the region with a strong focus on employability.
Brigit van Dijk – van de Reijt, CEO of DOB Equity, said: “With Kenya’s high youth unemployment and lag in vocational and technical skills, there is a huge opportunity to plug this skills gap by better training tech talent to fit the growing market needs.
“The increasing global demand for tech talent, together with Africa’s rapidly rising youth population, makes this opportunity even more pressing.”
Audrey Cheng, Founder and Managing Director of Moringa, added: “We’re excited to continue to grow our quality and students served in partnership with DOB.
“We are looking forward to drawing on DOB’s experience in East Africa, as we build new market-aligned courses and expand our offerings to students in Kenya.
“Currently, Moringa has served students in Kenya from over 10 countries in Africa and is also looking forward to increasing access to our courses for students from other countries.”
Anne Njuki, Investment Manager of DOB Equity, comments: “We felt an immediate strong bond with Moringa’s truly innovative and ambitious management team.
“We are proud to be teaming up with them and are extremely excited about Moringa as it builds new courses and scales up to develop even more future tech leaders.”
With ever more companies turning to big data, digital skills are in high demand across the continent. Many companies are struggling to find good developers and high-quality tech talent.