Another Jamaican company is expanding to Africa!

A few weeks ago, I told you about Supreme Ventures going into Ghana.  Now, EduFocal is setting up shop in Nigeria.

EduFocal is an education technology company that gamifies lessons for primary and high school students and adults. They also offer training for teachers. The company listed on the Junior Market of the Jamaica stock exchange last year.  One of the things they talked about in the IPO prospectus was expansion.  And now they’re starting with Nigeria. 

The company is growing the teacher training side of its business by tapping into the African market. 

EduFocal said it’s taking advantage of teacher training opportunities emerging in Nigeria. Nigeria has a population of around 213 million people as of 2021. Around 16 million people are located in Lagos, one of the country’s largest cities. 

CEO Gordon Swaby said the city’s growing population makes it a major education and culture hub, so they’re moving to capitalise on that potential. 

He explained that they’ll be using the same strategies and platforms that the company uses locally, but modified for that specific market.

And Lagos is just the start. The company is looking to expand even further into Nigeria and Africa.  They recently incorporated two subsidiaries, EduFocal Africa and EduFocal Nigeria.

The company’s financials have also been doing well. EduFocal brought in around $112 million dollars in revenues for its first quarter, including $42 million in net profit. 

So now is not a bad time to expand.