NAIROBI, Kenya- In a significant boost to Kenya’s digital landscape, local internet service provider Mawingu has secured a $9 million Series B investment.
This latest funding round, spearheaded by InfraCo Africa, a member of the Private Infrastructure Development Group (PIDG), aims to bridge the digital divide by expanding affordable internet connectivity to underserved regions.
The investment, which includes contributions from existing investors E3 Capital and Dutch Entrepreneurial Development Bank FMO, sets the stage for a transformative expansion across Kenya.
InfraCo Africa Leads $6 Million Investment
InfraCo Africa’s commitment of $6 million marks a pivotal moment for Mawingu.
This funding will support the roll-out of essential infrastructure, targeting rural households and businesses that have long been left behind in the digital revolution.
Mawingu’s strategic growth aligns with PIDG’s mission to foster sustainable development in low-income regions through impactful infrastructure projects.
“Our partnership with InfraCo Africa is a game-changer,” said Mawingu CEO, highlighting the significance of this investment in driving connectivity and fostering economic growth.
Expansion Plans to 25 New Counties
Currently operational in 15 counties with over 7,500 active customers, Mawingu is set to expand its reach to an additional 25 counties.
The focus will be on rural markets, starting with western Kenya regions including Kisii, Migori, Bungoma, and Kakamega. This expansion is poised to significantly increase internet accessibility, supporting Mawingu’s ambition to connect 250,000 Kenyans over the next five years.
Late last year, Mawingu rebranded to better reflect its mission and long-term impact, a move that has been well-received by its growing customer base.
This rebranding was part of a broader strategy to highlight the company’s role in delivering high-quality internet services to underserved areas.
Recognition and Future Outlook
Mawingu’s efforts have garnered international attention, with Microsoft Vice Chairman and President Brad Smith praising the company during a Bloomberg interview.
Smith acknowledged Mawingu’s crucial role in the broader ambition of connecting 100 million Africans to the internet, emphasizing the importance of reaching underserved markets.
“Mawingu’s work is a testament to the untapped potential in rural internet connectivity,” Smith noted, underscoring the global significance of Mawingu’s mission.
With plans to kick off the expansion in February 2023, Mawingu is set to connect new regions monthly, ensuring a steady pace of progress.
This ambitious rollout will be supported by the expertise of Stadia Capital, acting as transaction advisors, and Bowmans Kenya, providing legal guidance.
