JUNE 28, 2022

3 min Read

Investor Updates: June 28 2022

Kenyan edtech Moringa School raises pre-Series A round

Moringa school team
Image from TechCabal

Highlights

  • Moringa School, a Kenyan EdTech startup focused on developing and nurturing Africans in software engineering and other tech-based skills, has raised an undisclosed amount in its pre-Series A round of funding from Proparco (AFD Group).
  • Founded in 2014 by Audrey Cheng, Moringa School is committed to closing the skills gap in Africa by connecting graduates to local and international employers seeking tech talent.
  • According to the company’s statement, the fresh capital will be used to solidify its expansion to Ghana and soon, Nigeria. It also plans to scale across other African countries in the next 12 months.

Source: TechCabal


Our Takeaway

Almost 60% of Africa’s population are under the age of 25 while the continent has an average literacy rate of 70%, lagging behind other parts of the world. These conditions indicate the region is ripe for disruptions in education, and many startups have emerged to capture this opportunity with backing from international investors while simultaneously expanding Africa’s tech talent pool and addressing the unemployment problem that continues to plague the continent.


SA cleaning service startup SweepSouth expands to Nigeria

Image from Disrupt Africa

Highlights

  • South African home cleaning service startup SweepSouth has announced its expansion to Nigeria. 
  • Launched in 2014, SweepSouth is an online platform providing on-demand home cleaning services across various South African cities. The startup has raised significant funding, including from Naspers, and is busy expanding across the rest of the continent.
  • In December, the company acquired Egyptian startup FilKhedma, a home services marketplace operating across three cities, to expand into the North African country, and it has now moved into Nigeria, led by its new country manager Awazi Angbalaga.

Source: Disrupt Africa


Our Takeaway

From fast food to personal transport, entertainment to e-commerce and logistics, more products and services are being provided via an on-demand system that leverages smartphones and the internet. Though Africa is a bit behind the curve when it comes to on-demand services, a number of startups—like SweepSouth, WumDrop, OrderIn, EdenLife, etc—have emerged looking to drive the trend and are so far enjoying strong consumer adoption, in part driven by the changes to consumer behavior triggered by the Covid-19 pandemic.


Mauritius, Senegal, and Morocco are francophone Africa’s startup leaders

Senegal and Morocco lead Francophone Africa's rise in startup rankings —  Quartz Africa
Image from Quartz

Highlights

  • Morocco and Senegal top a list of some of Africa’s biggest movers on the Global Startup Ecosystem Index 2022, an index created by StartupBlink.
  • Morocco moved up 16 positions, to 79th slot globally while Senegal climbed 13 positions to 92, debuting in the “top 100 club” of nations hosting startup ecosystems.
  • Mauritius, at 71 is currently the top French-speaking African country on the list. The island nation moved up two positions, thanks to the debut of two of its two cities—Port Louis and Grand Baie—in the top 1,000 list of cities.

Source: Quartz


Our Takeaway

Much of the global hype about and investment in startups operating in Africa over the past decade has been skewed towards English-speaking countries as venture capital investors have historically drifted towards the continent’s more developed tech hubs such as Nigeria, Kenya, Egypt, and South Africa. But in recent years, an uptick in startup activity has attracted investors to the francophone region. Last year, Senegal-based Wave raised Africa’s largest-ever Series A round while Moroccan startups, such as Chari, continue to make waves.

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Rest of Today's Updates

SEPTEMBER 19, 2022

3 min Read

Investor Updates: September 19 2022