African-based organization, Caring Africa, enters partnership with Morgan Inclusive & Sustainable Ventures program
In a significant stride for the care industry in Nigeria, Caring Africa, a Nigerian nonprofit tech and policy organization, has been selected for the 2025 Morgan Stanley Inclusive & Sustainable Ventures. This prestigious programme aims to support and invest in innovative ventures that are working towards a more inclusive and sustainable world.
Caring Africa's flagship platform, Caring Blocks, is set to revolutionise the care industry in Nigeria. With a rapidly growing population, Nigeria is projected to become the world's third most populous nation by 2050, and the existing informal care providers are struggling to meet the demand for professional and affordable care.
Caring Blocks addresses this challenge by connecting families with professional caregivers. The platform integrates payroll, background, and fitness-to-care checks, and offers training modules to ensure the highest standards of care. It also provides identity verification, smart matching, contracts, compliance, and payments for safety, transparency, and dignity in the care industry.
In addition to this, Caring Blocks offers B2B and B2G solutions for employers, governments, and institutions. By formalising and reshaping a care economy that has long operated informally, Caring Africa aims to unlock new jobs and improve standards of care.
Morgan Stanley's support for Caring Africa includes a $250,000 investment and an additional $250,000 grant. This partnership provides Caring Africa with capital, mentorship, and access to a global investor network.
Troy Adesiyan, the founder of Caring Africa, argues that technology-led models are the only scalable way to bridge the gap in care provision. He stated that Caring Africa's selection by Morgan Stanley signifies that care is a critical frontier for innovation.
The news of Caring Africa's selection comes ahead of the Moonshot event by the website, which will take place in Lagos on October 15-16. This event offers opportunities to meet and learn from top African founders, creatives, and tech leaders. Tickets for the Moonshot event can be purchased on the website. (Please note: This is an advertisement.)
Interestingly, Caring Africa is the only Africa-based care tech venture in the cohort of the global innovation lab. This recognition underscores the potential of Caring Africa's work in transforming the care industry in Nigeria and beyond.
In conclusion, the partnership between Caring Africa and Morgan Stanley marks a significant step towards addressing the care needs of Nigeria's growing population. With its innovative platform, Caring Blocks, Caring Africa is poised to formalise and reshape the care economy, improving standards of care and unlocking new job opportunities.
