In brief
Fuzu Limited is a Kenyan-Finnish company that launched the Fuzu employment platform in 2015. Fuzu is an online career and recruitment platform that provides job seekers with access to career advice, online learning and jobs. For employers, it provides a set of tools for identifying the best matching candidates via search and recruitment solutions and automated analysis of CVs. The platform integrates online psychometric testing and talent profiling of candidates into the application process. Fuzu aims to combine the strengths of the Finnish education and innovation systems with a deep understanding of the end-users, their needs and aspirations in the African context. In Kenya, as in many other countries, the unemployment rate is very high, and young people are having difficulties entering the workforce. Fuzu aims to help people embark on meaningful careers and build better lives and help companies find the right talent. Finnfund participates in financing Fuzu’s expansion in Kenya and the launch of the platform in selected geographies in Africa and Asia.
Main development impact
Fuzu’s services help to develop and formalise the job market. The youth unemployment rate is high, and only a fraction of the workforce is formally employed. Fuzu increases the employability of job seekers in developing countries, especially in Africa, where the labour force is growing rapidly. Fuzu's employment platform aims to narrow the employability gap, especially among the young working-age population.Investment details
| Name: | Fuzu |
|---|---|
| Project number: | 80000062 |
| Region: | Africa |
| Country: | Africa |
| Sector: | Digital infrastructure and solutions |
| Signing date (month/year): | November 2016 |
| Currency: | EUR |
| Finnfund's financing (commitment): | 999,690 |
| Size of the project financing: | EUR 4,000,000 |
| Share of Finnfund's financing (%): | 37 % |
| Status: | Active |
| Website: | www.fuzu.com |
Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.
Other investments
| Name | Country | Signing date (month/year) | Currency | Finnfund's financing (commitment) | Instrument |
|---|---|---|---|---|---|
| Fuzu | Kenya, Uganda, Nigeria | September 2022 | EUR | 500,000 | Mezzanine |
