Nigerian edtech powerhouse, AltSchool Africa is embarking on a significant expansion journey into Kenya. This move signifies the startup's strategic focus on Kenya as its second-largest revenue contributor. In an exclusive interview, Adewale Yusuf, the founder of AltSchool Africa, shed light on the expansion plans and the pivotal role Kenya plays in the company's growth strategy.
Strengthening Presence in Kenya
AltSchool Africa's foray into Kenya is more than a geographical expansion; it is a commitment to provide enhanced support to its Kenyan clientele. With a dedicated Country Manager, Tabitha Kayvu, leading operations in Kenya, the startup aims to facilitate local payments efficiently and offer hands-on assistance to its growing customer base.
Adewale Yusuf expressed, “We’re not new to the people, but this will give us the opportunity to expand.” The expansion underscores AltSchool Africa's ambition to fortify its presence in the Kenyan education technology landscape.
Key Pillars of Expansion
1. Strategic Partnerships
AltSchool Africa attributes its successful expansion to Kenya to strategic collaborations with local stakeholders. Negotiations are underway with various agencies to ensure that Kenyans have seamless access to globally sought-after skills offered by AltSchool.
2. Diversified Course Offerings
Originally established in 2021 as an online platform focusing on diplomas in engineering, data, and business analytics, AltSchool Africa has evolved its offerings. The startup now provides short courses in sales, content creation, and music in English. In Kenya, the courses will be expanded to include offerings in Swahili, catering to a broader audience.
3. Flexible Pricing and ISA Model
AltSchool Africa adopts a flexible pricing model, with course rates ranging from $20 to $50 per month. The startup also embraces the income-sharing agreement (ISA) model, where students commit to sharing a percentage of their future income in exchange for reduced upfront expenses. This approach aligns with AltSchool's mission to bridge the skills gap in Africa.
Growth Trajectory and Funding
Since its inception, AltSchool Africa has made significant strides, serving approximately 60,000 learners across 105 countries. The startup generates an Annual Recurring Revenue (ARR) of $3 million. AltSchool Africa's funding journey includes support from the $30 million Rwandan Innovation Fund and substantial funding rounds in 2022 and 2023, amounting to nearly $4 million. Yusuf envisions a future where AltSchool Africa deepens its presence in existing markets, reaffirming its commitment to shaping the future of education across the continent.
As AltSchool Africa sets its sights on expanding educational opportunities in Kenya, the startup's trajectory exemplifies the transformative impact of edtech in addressing the skills deficit and fostering a new era of learning.