Mwabu, an award winning education technology company, has concluded a significant investment deal, securing 100% of the goal for its Series B investment round. Mwabu creates innovative, interactive e-learning content and educational resources for African learners.
Since 2013, Mwabu has provided high-calibre educational tools to more than 250,000 students in Zambia. Evidence from multi-year studies in Zambia comparing the progress of Mwabu learners with control classes, shows that Mwabu learners are performing significantly better in terms of numeracy and literacy.
Mwabu recently launched in South Africa where it has developed a new CAPS-aligned product for primary schools. It is also working in Kenya and Tanzania with plans for further expansion.
With the closing of this round of investment, Mwabu will expand its education solutions. “We are delighted to announce this significant step forward in our plans for growth. Through this investment we will be able to extend the educational possibilities for millions of African learners,” says Justin Reilly, CEO at Mwabu.
Achieving the goal of 100% funding was made possible by The ELMA Investments, Ltd., the impact investment arm of The ELMA Foundation, whose mission is to improve the lives of Africa’s youth through the support of sustainable efforts to advance education, improve health, and relieve effects of poverty.
Heather Sherwin, Director of Impact Investments for The ELMA Philanthropies Services, says: “Education technology is an important tool in helping to achieve greater literacy and numeracy outcomes in schools, especially if it’s customised to accommodate local linguistic, cultural and contextual requirements. We believe Mwabu will continue to be an innovative leader in this field.”
This great news was also featured on news websites including CAJ News Africa.