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Moringa School: supporting the development of tech-based learning in East Africa
Project


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Signature date
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Location
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Kenya
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Financing tool
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Financing amount (Euro)
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442008
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Financing details
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USD 500,000 of instruments convertible into shares
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Customer
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Moringa School
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Type of customer
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Company
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Country of headquarters
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Kenya
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Project number
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PKE1137
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Environmental and social ranking
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B

This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is supporting Moringa School, a tech-based vocational training institute based in Kenya, for its development in East Africa: strengthening the teams and governance, launch of new programs, development of the BtoB activity.
Client presentation
Set up in 2015, Moringa School is a tech-based vocational training institute operating in the bootcamp format. It offers its students intensive face-to-face and e-learning training programs. The service offered by Moringa meets a major need for training in Africa, resulting from a qualitative and quantitative mismatch between the available tech-based training provision and employer demand.
Project description
Proparco’s operation will finance the development of the model in East Africa: strengthening of teams and governance, launch of new programs and development of the BtoB activity, until the next Series A fundraising.
This project is part of the 2X Challenge initiative. This multilateral initiative aims to support projects that help empower women as entrepreneurs, business leaders, employees and consumers of products and services. It also increases their participation in the economy. This initiative thereby contributes to Sustainable Development Goal 5 on gender equality.
Project impact
On the social front, the project aims to develop access to high-quality vocational training provision in Kenya: creation of new training programs, recruitment of new teachers and acquisition of new training premises to increase the student capacity. Starting in 2021, the school is expected to receive 2,275 additional students every year. Female students account for an average of 27% of enrolments every year.
On the economic front, the operation should support 130 jobs, including 40 created in the Kenyan subsidiary of Moringa School by 2021. Women account for 48% of employees. More generally, the project will contribute to the development of the IT sector and will provide the countries where the company operates with a pool of junior developers.
In terms of gender equality, the operation has qualified for the 2X Challenge under several criteria: almost 66% of the company’s capital is owned by women, the company was set up by a woman, women make up 55% of management positions and 40 of the Board of Directors.
The project will thereby contribute to SDG 8 (Decent work and economic growth) and 4 (Quality education).