trenddjakarta.com, Jakarta. August 14, 2024 – Cakap, an Indonesian education company, has experienced rapid growth, demonstrating that the potential for educational business in Indonesia remains strong despite global challenges. “In the first half of 2024, the entire Cakap team has achieved remarkable milestones with positive trends through healthy business development. This reflects our commitment to continue evolving through relevant innovations that meet the community’s needs. From early childhood to the workforce. Internally, we have also been consistently improving management standards and quality, as demonstrated by our successful acquisition of ISO 27001:2022 certification for consumer data information security and ISO 9001:2015 certification for quality management in education,” said Tomy Yunus, CEO & Co-Founder of Cakap.
Statistically, Cakap has shown consistent positive growth up to the first half of 2024. With the total cumulative number of students exceeding 5 million. Cakap has also empowered more than 2,800 educators with over 1,500 courses. Based on the latest demographic data, the province with the largest student demographic is DKI Jakarta. Followed by West Java and Banten provinces. Additionally, there has been positive growth in regions outside Java, such as North Sumatra, South Sumatra, and West Nusa Tenggara. This clearly indicates that the demand for language learning and other vocational courses is expanding beyond Greater Jakarta.
In the upskill courses, Business Management, Technology, and Career Development are the most sought-after subjects by the workforce. Looking at the age range, the 20-29 year age group dominates Cakap’s classes, followed by the 10-19 year age group. This shows enthusiasm for self-improvement in language and skills across early age to productive age groups. On the other hand, from the market-product aspect over the past two years. English language training remains the most popular, followed by Japanese, Korean and Mandarin.
“Cakap continues to expand collaborations and strengthen standardization in the second quarter of 2024. The total revenue from all pillars (Language, Upskill, Business, Kids) grew by 158% in the first half of 2024 compared to the same period in 2022. Cakap has maintained positive EBITDA since 2020. The company is optimistic about achieving optimal results in 2024,” said Jonathan Dharmasoeka, Chief Financial Officer of Cakap.
In the scope of strategic collaboration in education, Cakap is participating in the Certified Independent Study (SIB) program by the Ministry of Education and Culture. The SIB program is designed to allow university students to take classes offered by Cakap, which count as credits towards their degree. This initiative not only enriches students’ academic experience. But also strengthens the company’s role in supporting educational development in Indonesia while gaining greater trust from the government. Besides working with the central government, Cakap also collaborates with local governments, such as Trenggalek, by providing 2,000 scholarships for language training and workforce preparation in Trenggalek.
Cakap has also partnered with an International development consultancy that collaborates with global donors and governments from the United States at the start of this semester. The partnership focuses on developing a MOOC (Massive Open Online Course) program related to Climate Finance, covering essential topics such as climate adaptation financing, fiscal policy, and climate mitigation financing. This collaboration is a strategic move that expands Cakap’s reach on the international stage while reaffirming the company’s commitment to global sustainability issues. Cakap has successfully strengthened its business portfolio by serving several financial industries, such as banking and multi-finance companies.. This achievement is a testament to its ability to build solid and sustainable partnerships.
Cakap Kids Academy (CKA), one of the company’s business pillars focused on children’s education, has also shown encouraging performance. With an occupancy rate exceeding 80%, CKA has successfully maintained student interest and engagement through various Science, Technology, Engineering, Art and Math (STEAM) programs. Offering fun activities for children like shopping, cooking, and more. In the third quarter of 2024, Cakap plans to expand CKA to different locations within the Greater Jakarta area. This initiative is expected to provide more enjoyable and beneficial learning opportunities for children in various parts of the city.
With our achievements so far, we are optimistic that with dedication and hard work. We will continue to carve out further success. We thank all parties who have supported us on this journey. We are committed to moving forward, bringing innovations, and positively impacting the broader community in supporting the nation’s sustainability goals. In our efforts to empower the wider community, Cakap consistently pursues Sustainable Development Goals (SDGs) 4, 8, and 10. Including quality education, decent work and economic growth, and reducing inequality.
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