Investor interest in African education technology (edtech) has waned since the COVID-19 lockdowns ended, despite the clear benefits technology brings to learning. However, the pressing need to educate a continent full of young people remains. This is the driving premise behind the Mastercard Foundation Edtech conference, which kicked off in Abuja on Monday.
A Gathering of Influential Stakeholders
While many African tech conferences address broad issues and regulatory challenges, this event focused specifically on the unique problems facing over 300 edtech companies. One enthusiastic founder likened it to the “Web Summit of edtech startups,” as participants queued to access the main hall—a large tent with a 600-seat capacity and an exhibition area featuring 24 companies.
A Milestone for Edtech in Africa
Although the attendance of 600 people is modest compared to the hundreds of thousands at the Web Summit, it was a significant achievement for the edtech industry. The inaugural Mastercard Foundation Edtech Conference successfully brought edtech startups into the same room with two critical parties for the industry’s growth: government officials and investors. The conference featured eight education ministers and scheduled panel discussions over two days.
Mastercard Foundation advocates that edtech can bridge the education gap, enabling over 600 million young Africans to access quality education. Joseph Nsengimana, Director of the Centre for Innovative Teaching and Learning at the Mastercard Foundation, emphasized the conference’s importance in fostering dialogue among industry stakeholders to address the numerous challenges facing African education. These discussions aimed to find ways to make edtech services both profit-oriented and affordable to underserved communities, thereby attracting more investors.
Challenges in Attracting Investment
Edtech startups have long sought to convince investors of their potential to provide quality education to underserved communities while generating profits. Despite their efforts, investor confidence remains low. In 2023, over 300 edtech startups accounted for a mere 0.7% of total funding to African tech companies. Even in 2021, when funding peaked at $81 million, it represented less than 2% of total tech investment.
“The challenge is that many investors don’t see where they fit in,” explained Chimdi Neliaki of the Youth Reference Committee, Office of the AU Youth Envoy. He stressed the need for companies to specialize within edtech to present clearer investment opportunities.
Ruth Wairimu, an investment manager at Acumen Fund, highlighted scalability issues as a major barrier to funding. Successful edtech models are typically B2B-focused, creating solutions for both private and public schools. In contrast, B2C edtech companies struggle to scale due to reliance on parental decisions amid widespread income inequality. Wairimu called for more patient investment approaches.
Infrastructure as a Foundation for Growth
Before attracting more investors, the necessary infrastructure for the edtech industry must be established. Tochukwu Ezeukwu, regional director of AVPA, identified broadband and internet penetration as crucial components.
“Edtech is not an end in itself. It is meant to achieve something,” Ezeukwu stated. “Across many African markets, there is insufficient infrastructure for edtech to ride on and scale.”
Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, pointed out that the edtech industry might be missing out on available funds by operating in silos, disconnected from government education programs. He noted that the Universal Service Provision Fund (USPF) could support the industry. The USPF, managed by his ministry, aims to ensure universal access to ICTs in Nigeria’s rural, underserved, and unserved areas.
Prioritizing Effective Edtech Solutions
Panel discussions emphasized that the focus should be on the content and how teachers use edtech solutions to achieve learning outcomes, rather than simply providing laptops to schools. This consensus was shared by participants including the minister, Joseph Nsengimana, Albert Nsegiyumva (Executive Secretary of the Association for the Development of Education in Africa), Alex Twinomugisha, Risian Kanya (Deputy Vice-Chancellor of Baze University), and Adefunke Ekine (Deputy Director of Research and External Relations at Tai Solarin University of Education).
Conclusion: A Hopeful Path Forward
The Mastercard Foundation Edtech Conference highlighted both the challenges and potential of the edtech sector in Africa. By bringing together key stakeholders, the event aimed to foster collaboration and innovative solutions to transform education on the continent. While significant obstacles remain, the conference marked a hopeful step towards a more connected and well-funded edtech future in Africa.