…as reading mode changes globally
Learn Africa, a leading publishing company is leveraging tech to ensure that every Nigerian child has access to books and at an affordable cost to parents, recognising the future of education lies in digital and technology-driven solutions.
Emeke Iwerebon, the chairman of board of directors at Learn Africa disclosed this while addressing shareholders in Lagos recently, when he said the company invested substantially in improving digital platforms knowing the future of education lies in digitalisation.
“In the face of difficulties that beset the Nigerian economy in 2023, we adapted our strategy to meet the evolving needs of our consumers, and partners.
“Recognising that the future of education lies in digital and technology-driven solutions, we made substantial investments in improving our digital platforms, including the LearnAfrica elearning app, and ecommerce platform,” he said.
Iwerebon decried the prevailing inflation that has put a considerable financial strain on schools and parents, the core customers of the company.
“As the cost of living surged, families focused on essential needs, emphasising less on non-essential purchases like children’s books.
“We recognise the crucial role that reading plays in a child’s development and firmly believe every child should have access to materials that spark their imagination and fuel their love for learning,” he said.
The economist cum legal expert said the company is digitalising because it believes that in the near future 40 percent education and other transactions will be digitalised.
“We believe digitalization will give us the sustainable future we dream of. We have also digitalised our operations which will go a long way in improving our efficiency at a reduced cost and eliminating wastes,” he said.
Hassan Bala, the managing director/chief executive officer at Learn Africa said what changed in the education space is the reading mode and not actually reading itself, hence, the company chose to substantially invest in tech-driven solutions.
“Whether we like it or not, reading has shifted from hardcover books to softcopy. People still read books, what has changed is the mode, the mode of reading has shifted from physical to softcopy.
“Looking at the dynamism of technology, we’re leveraging on that, because the cost of inputs such as papers and other production costs have gone up over 300 percent, and has negatively affected the price of books, impeding parents’ purchasing power,” he said.
Besides, Bala explained that the company is leveraging technology as a solution to the high cost of books because access to e-books comes at a cheaper cost.
Using the LearnAfrica app costs a student just N5,000 per year as against spending about N65,000 to buy physical books.
Students can access all Learn Africa books from Primary 1- 6 and JSS 1 – SSS1- 3 on the app, which are all curriculum-based and can be accessed fully offline,” he explained.
Iwerebon speaking to the shareholders during the 51 anniversary of Learn Africa’s annual general meeting on the company’s fiscal year said, “In 2023 fiscal year, our company, despite the harsh economic environment, achieved an 18 percent growth in revenue, increasing from N3.4 billion in 2023 to N4.1 billion in 2024.
The company also achieved a marginal increase in gross profit from N1.9 billion in 2023 to N2.1 billion in 2024, having been profoundly affected by the unprecedented surge in publication costs of over 70 percent during the calendar year.”
