ESIP Andela

pending

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.