300,000 Users and Counting
In a significant achievement, Ethiopian talent marketplace Afriwork has reached a milestone of 300,000 users. Since its establishment in 2018, the platform has become a key player in supporting 50,000 SMEs, effectively connecting businesses with diverse talent through its innovative Software-as-a-Service (SaaS) solution.
Innovative SaaS Solution for SMEs
Afriwork's core mission is to simplify HR activities for small businesses by providing them with a user-friendly SaaS platform. This platform not only streamlines HR processes but also serves as a gateway for businesses to connect with a wide range of talent. CEO and co-founder Semegn Tadesse explained that Afriwork has gone a step further by creating a dynamic two-sided marketplace integrated with the SaaS platform. This marketplace functions as a robust ecosystem, offering local job opportunities for skilled individuals while also opening doors to international prospects.
Empowering Businesses and Talent
Since its inception, Afriwork has experienced rapid growth, attracting over 300,000 jobseekers to its platform. The startup has facilitated more than 70,000 job matches, showcasing its effectiveness in meeting the demands of businesses and job seekers alike. Tadesse highlighted the organic growth of the platform, with an impressive 90% word-of-mouth virality.
Addressing Unemployment Challenges in East Africa
The significance of Afriwork's contribution becomes evident when considering the employment landscape in East Africa. With 50% of graduates facing unemployment challenges annually, despite the presence of 30 million SMEs, Afriwork steps in as a solution. Tadesse emphasized the perpetual need for talented individuals in SMEs, and the platform strategically connects these businesses with young graduates.
Monetization Strategy and Future Expansion Plans
As a self-funded entity that has achieved break-even, Afriwork sustains itself through subscriptions and an escrow-based two-sided marketplace for outsourcing services. While currently active in Ethiopia, the platform has ambitious plans for expansion.
"We are actively pursuing expansion plans to cover East Africa in the near future," stated Tadesse, indicating Afriwork's commitment to extending its positive impact across the region.