This archive report was first published on 7 May 2020.
On May 7, 2020, DOB Equity, a Dutch family-backed impact investor in East Africa, announced an additional investment in Moringa School, a Nairobi-based software development institution.
DOB Equity had previously acquired a multimillion-shilling stake in the school in the previous year, capitalizing on the growing demand for software developers.
According to Moringa School management, the transition to virtual learning has enabled the institution to retain more than 80 percent of its students.
DOB Equity's investment manager, Anne Njuki, stated that 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,” Njuki 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,” she added.
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, expressed gratitude for the additional investment, stating that it would enable the 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,” Cheng said.
DOB Equity co-chief executive Saskia van der Mast emphasized the importance of investing in the education sector, particularly in East Africa, where the young population is rapidly growing.
