Since the COVID-19 pandemic lockdowns ended and evidence emerged showing how technology supports learning, investor interest in African Edtech has decreased. However, it remains crucial to continue emphasizing technology and education on a continent brimming with youth. This is the idea behind the Monday-starting Mastercard Foundation Edtech conference in Abuja.

On Monday morning, hundreds of conference attendees from thirteen African nations created traffic jams on Maitama’s Aguiyi Ironsi Road and the surrounding roads that lead to the Transcorp Hilton Abuja. A wide range of Edtech entrepreneurs, CEOs, investors, development organizations, academics, students, and public servants are among the attendees.

Numerous tech conferences in Africa adopt a broad perspective, concentrating on major issues and regulators. More than 300 Edtech businesses have taken a break this week to talk about the unique difficulties facing their sector as a result of it.

“This is the Web Summit of Edtech startups,” declared an enthusiastic founder as she joined the line of people attempting to enter the main hall, a spacious tenth that could hold 600 people and housed 24 companies in an exhibition area.

The 600 attendees at the Mastercard Foundation Edtech Conference was a significant number for the Edtech industry, even though it is far less than the hundreds of thousands of people that the Web Summit records each year.

The Mastercard Foundation is of the opinion that Edtech can close the achievement gap and provide over 600 million young Africans with access to high-quality education. The Edtech conference, according to Joseph Nsengimana, director of the Mastercard Foundation’s Center for Innovative Teaching and Learning, is crucial because it brings together industry players to collaborate on solutions for the numerous issues facing Africa’s education system.

To draw in investors, these solutions might involve figuring out how to make Edtech services profitable while keeping them accessible to the underprivileged.

For many years, Edtech startups have attempted to persuade investors that they can both make money and provide the necessary, high-quality education to people in underprivileged communities. Few investors have been persuaded thus far.

In 2023, the total amount of funding received by tech companies in Africa came from over 300 Edtech startups—a pitiful 0.7%. Even in 2021, when industry funding reached a record high of $81 million, it accounted for less than 2% of all funding.

The problem is that a lot of people are unsure of where to start. Businesses must choose Edtech specializations that provide a clearer investment picture. The AU Youth Envoy’s Office’s Youth Reference Committee’s Chimdi Neliaki.

PIC : Attendees get their tags at one of the registration points. 

The scalability of the models is another factor contributing to the decline in Edtech funds, according to Ruth Wairimu, investment manager of Acumen Fund, who spoke at an investors’ panel.

The B2B-focused Edtech models that provide solutions for both public and private schools tend to be the ones that scale. B2C Edtech companies struggle to grow because their decisions are influenced by parents who experience income inequality.

However, investing in any kind of Edtech business—B2B or B2C—needs a distinct strategy.

“More investors need to be encouraged to exercise patience,” Wairimu stated.

However, the sector must develop its infrastructure to attract more investors to fund startups.. The regional director of AVPA, Tochukwu Ezeukwu, separates infrastructure into internet penetration and broadband.

Purchasing laptops for schools is less important than focusing on content and effective use of Edtech solutions to achieve learning outcomes. During three panel sessions, Joseph Nsengimana, director at the Mastercard Foundation’s Center for Innovative Teaching and Learning; Albert Nsegiyumva, executive secretary of ADEA; Alex Twinomugisha, deputy vice-chancellor of Baze University; and Adefunke Ekine, deputy director of Research and External Relations at Tai Solarin University of Education, reached a consensus.