Andela IDA (IFC-602433)

Countries
  • Uganda
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 30, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Andela
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 14, 2019

Disclosed by Bank May 2, 2018

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

IFC will be managing the delivery of a technical talent accelerator to be implemented by its client, Andela. Andela’s mission is to advance human potential by powering today’s teams and investing in tomorrow’s leaders. It helps leading global technology companies build high-performing engineering teams by investing in Africa’s most talented software developers. Backed by the Chan Zuckerberg Initiative, Google Ventures and Spark Capital, among others, Andela is catalyzing the growth of tech ecosystems across the African continent while solving the global technical talent shortage. Since 2014, Andela has since launched operations in Nigeria, Kenya, and is in the early stages of its expansion in to Uganda. It has received more than 75,000 applications and hired ~700 developers (as of April 2018) -- the majority of whom are working as full-time, distributed team members with leading tech companies around the world. Andela launched its operations in Uganda in June 2017. IFC will support Andela in enhancing development impact by accelerating its growth path in its third expansion market.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

This grant will support Andela’s growth in Uganda by supporting foundational factors for its business model to work. These factors include, among others: identification and expenses related to talent recruitment systems; investment in real estate, technology infrastructure and high speed internet; and an evaluation of the signs of growth in the tech ecosystem and locally-driven entrepreneurship.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Andela’s mission is to advance human potential by powering today’s teams and investing in tomorrow’s leaders. It helps leading global technology companies build high-performing engineering teams by investing in Africa’s most talented software developers. Backed by the Chan Zuckerberg Initiative, Google Ventures and Spark Capital, among others, Andela is catalyzing the growth of tech ecosystems across the African continent while solving the global technical talent shortage. Since 2014, Andela has since launched operations in Nigeria, Kenya, and is in the early stages of its expansion in to Uganda. It has received more than 75,000 applications and hired ~700 developers (as of April 2018) -- the majority of whom are working as full-time, distributed team members with leading tech companies around the world. Andela launched its operations in Uganda in June 2017

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Andela Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works