PROJECT

Projects

Environmental & Social Review Summary

Project Number

37243

Company Name

LEARN CAPITAL - IC, LP

Date ESRS Disclosed

Sep 2, 2015

Country

Africa Region

Region

Africa

Last Updated Date

Oct 25, 2025

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Oct 22, 2015
Signed : Oct 27, 2015
Invested : May 6, 2022

Sector

Other Training

Industry

Funds

Department

TMT, Venture Capital & Funds

Project Description

IFC is considering an equity investment of up to $500,000 in Andela Inc (referred herein as “Andela” or the “company”). The company provides a tertiary software engineering technology education program in Lagos, Nigeria. Recruits are selected for a free, two-week-long Boot Camp where they learn the fundamentals of programming. The Boot Camp is part of Andela’s application process for Fellows. On average, Andela has a little over 30 participants per Boot Camp. Top performing students from Boot Camp are then selected for interview to become an Andela Fellow.

Accepted Fellows enter into Andela’s paid, 4-year software developer training program. Most Fellows spend the first three to five months receiving hands-on training in HTML, CSS, JavaScript, and other web and mobile software development skills. Fellows spend the remaining portion of their 4-year contract working on software development contracts with client companies.

Andela has two working facilities in Nigeria: an office location (called Herbert Macaulay or “HM”) and office-student housing location (called Amity). HM is a 3-story office building, where Andela leases the 2nd floor. It uses this office for its Boot Camp and Fellow training. The Amity campus is 3 stories, the bottom level has offices and a cafeteria, the 2nd story is comprised of dorm-style rooms, and the 3rd story has meeting rooms and recreational areas, including a roof-top patio/green-space. Andela provides software development, professional development, and leadership training at Amity.

Andela is planning to expand its student operations to other cities in Sub Saharan Africa and increase its number of Fellows. In its early stages of planning, Andela’s first expansion is likely to be in an urban location in Nairobi, Kenya.

Overview of IFC's Scope of Review

As this is a co-investment with IFC’s investee, Education Innovation Fund, IFC’s review of this project consisted of appraising technical, environmental and social information made available by the fund manager, notably the fund’s environmental and social due diligence. The fund appraisal involved a document review and telephone interviews with one of Andela’s co-founders and the COO; video conference with Andela’s Director of Operations and Facilities Manager in Lagos; and a virtual tour of Andela’s Amity campus in Lagos.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan