By MTHULISI SIBANDA
JOHANNESBURG, (Technoafrica) MWABU, the award winning education technology company, has concluded a significant investment deal after securing 100 percent of the goal for its Series B investment round.
The value of the funding was not disclosed.
Achieving the goal of funding was made possible by The Elma Investments, Ltd., the impact investment arm of The Elma Group of Foundations.
From locations in South Africa, Uganda and United States, the foundation’s 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.
With the closing of this round of investment, Mwabu will expand its education solutions and academy services, and increase the number of languages into which its content is translated. Currently eight local languages are offered in Zambia for Grades 1 – 3.
In South Africa, content is currently produced in English, but plans are underway to introduce multi-language content, including Zulu and possibly Afrikaans.
The company is also working in Kenya and Tanzania with plans for further expansion.
“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,” said Justin Reilly, Chief Executive Officer at Mwabu.
Heather Sherwin, Director of Impact Investments for Elma Philanthropies, said education technology was an important tool in helping to achieve greater literacy and numeracy outcomes in schools.
“We believe Mwabu will continue to be an innovative leader in this field,” Sherwin said.
Mwabu recently launched of its Mwabu Academy and e-learning content for primary schools.
The four schools in KwaZulu Natal Province, in which Mwabu has been introduced, are already experiencing considerable success.
Mwabu has provided high-calibre educational tools to more than 500 000 learners and teachers in Zambia since 2013.
– Technoafrica
