Edukoya, a Nigerian education technology company, has reportedly shut down, confirming the decision in a statement to stakeholders.
The company which was on a mission to reinvent how African students learn in the age of mobile devices, cited several challenges, which include market readiness, poor connectivity, limited device access, low disposable income, and broader macroeconomic conditions that hindered mass adoption.
“Edukoya encountered significant market readiness challenges in scaling our synchronous learning model,” the company stated in its email.
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Despite making notable progress, serving over 80,000 students, facilitating more than 15 million answered questions, and conducting thousands of live classes, Edukoya ultimately decided to wind down operations.
The Edtech company is reported to have explored potential partnerships, mergers, acquisitions, and business model pivots before reaching its decision. While the company denied reports of a pivot to fintech, it acknowledged that the Koya App, a savings and debit card platform for children was a separate initiative rather than a shift in direction.
Brief History of Edukoya
Founded in 2021, by Honey Ogundeyi, Edukoya’s mission was to build the world’s largest online learning platform for Africans by making high-quality learning materials and support more accessible and affordable. In essence, it wanted to reinvent how African students learn in the age of mobile devices.
It hoped to achieve this by connecting African students with the digital curriculum content and on-demand teachers for real-time online learning. According to Honey Ogundeyi, founder and CEO of Edukayo, the vision was to redefine education for the next generation.
She said,
“Our vision at Edukoya is to redefine online education for the next generation of Africans. Africa has the fastest-growing school-age population globally, with over 260 million students and counting. Our goal is to democratize access and make high-quality instruction and content accessible and affordable to every student, regardless of where he or she lives on the continent.”
It is worth noting that the platform launched and made an instant big bang with significant fundraising. It raised an outstanding $3.5 million, seemingly while still in the beta phase which was impressive.
The company noted that the funds will be used to expand its team and its learner base as well as build the technology needed for its platform.
What Edukoya Offered
Edukoya helped students learn better by providing smart solutions to education tasks.
According to the platform, “With Edukoya’s detailed solutions, you get more than just answers.”
The platform ran for 24 hours every day, helping students with practical tests for JAMB, WAEC, and school exams. It also helped students solve questions in many subjects including English and Mathematics.
It had over 20,000 questions with answer sheets for students. Information on its portal says “You can call when you need help with studying. Tutors can explain concepts and homework, give instant feedback, and prepare for tests and exams.”
Notably, Edukoya provided video lessons and interactive classes by linking students with teachers. The company disclosed that 96% of students who used the platform scored higher grades in Maths and other hard subjects.
The State of Edtech in Africa
Educational technology (EdTech) in Africa is at a dynamic crossroads, showing immense potential to transform education while grappling with significant challenges. As of February 26, 2025, the landscape reflects a mix of innovation, growing investment, and persistent barriers that shape its trajectory.
Africa’s EdTech sector has seen rapid growth, driven by the continent’s youthful population, and an urgent need to address educational gaps. With millions of children out of school (98 million in sub-Saharan Africa alone) and a severe teacher shortage (15 million needed by 2030 to meet global education goals), technology offers a scalable solution.
Investment in African EdTech has no doubt surged, with startups raising significant funds to tackle these challenges. However, the closure of Edukoya, despite raising $3.5 million in 2021, underscores the fragility of the sector.