Fuzu Services Mauritius
Region and country of operations: Africa / Kenya, Uganda, Nigeria
Jurisdiction of registration: Mauritius
Business sector: Digital solutions
Date of agreement (month/year): 9/2022
Instrument: Convertable note
Finnfund’s financing: EUR 500,000
Share of Finnfund’s financing: 42%
Size of project/financing: EUR 1,200,000 million
Environmental and social category: C
Fuzu is a career development, learning and recruitment platform developer and operator currently present in Kenya, Uganda and Nigeria. The company aims to provide a reliable and intelligent recruitment platform that brings the African job market online.
Fuzu is currently the number one career platform in East Africa and among the top 40 websites in Kenya, measured by visitor traffic. The company has about 350,000 unique visitors per month and over 5,000 applications per day.
Finnfund invested with Sparkmind to finance the B2B operations growth in the current key markets in Kenya, Uganda and Nigeria.
Main development impact
Fuzu’s services aim to develop and formalise the job market. In Kenya, the youth unemployment rate is high, only a fraction of the workforce is formally employed, and the labour force is increasing rapidly. Fuzu’s employment platform aims to narrow the employability gap, especially among the young working-age population.
Last updated: December 2022