A Dutch family-backed impact investor in East Africa, DOB Equity, has injected more funds in Moringa School, a Nairobi-based software development institution.
Last year, DOB Equity acquired a multimillion-shilling stake in the school, capitalising on the fast-growing demand for software developers.
In a statement, the investor said the undisclosed sum would help accelerate transition to remote learning amid the Covid-19 outbreak that has seen an increased demand for online lessons.
According to Moringa School management, the transition of its curriculum to virtual learning has enabled it retain more than 80 percent of its students.
DOB Equity investment manager Anne Njuki said the school’s switch to digital learning would help it weather the pandemic crisis.
“DOB has been impressed by Moringa’s resilience through the Covid-19 crisis, and its continuing commitment to facilitate learning during this unprecedented disruption, particularly for its vulnerable low-income students,” she said.
“Through this increasingly challenging time for all, we believe that Moringa’s swift transition to remote learning equips the company to weather the current crisis, and positions it well for the future of learning.”
Moringa School provides digital and professional training to students through short- and medium-term courses in software engineering and data science.
The founder Audrey Cheng said the new funds would enable the Ngong Road-based institution to adapt to the disruption.
“In this rapidly-changing economic and business environment, Moringa remains focused on preparing our students for the evolving job market. We are thrilled by DOB’s follow-on investment, and with this continued support, Moringa is poised to adapt to the changing dynamics and emerge undoubtedly stronger,” she said.
DOB Equity co-chief executive Saskia van der Mast said: “Now, more than ever, the education sector needs investment to continue to drive learning and job opportunities for the rapidly growing young population in East Africa.”