Nairobi — Internet service provider Mawingu has secured Sh2.6 billion from Pembani Remgro Infrastructure Fund II (PRIF II) to scale affordable broadband access across unserved and underserved regions in Africa.
The firm said the financing will support its target of reaching one million people by 2028 through acquisitions of local internet service providers (ISPs) and investment in digital infrastructure in areas where high capital costs and geography have limited connectivity.
"As a multi-country operator with a dedicated presence in rural and peri-urban markets, this funding marks a significant milestone as we move closer to positively impacting one million people in Africa by 2028," said Mawingu CEO Farouk Ramji.
Mawingu's expansion strategy builds on its 2024 entry into Tanzania through the acquisition of Habari, which has since added more than 3,000 users and extended coverage to nine regions including Arusha, Dodoma, Kilimanjaro, and Mwanza.
PRIF II's Ridwaan Tayob said the investment addresses a critical digital gap, noting that while mobile internet is widespread, only 12 percent of Sub-Saharan households have access to fixed broadband.
The World Bank estimates a 10 percent rise in broadband penetration can lift GDP growth by 1.38 percent in developing countries.
