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Internet provider Mawingu has raised Sh2.6 billion from Pembani Remgro Infrastructure Fund II (PRIF II) to expand affordable broadband services in unconnected and underserved areas across Africa.
The company said the financing will drive its goal of connecting one million people by 2028 through acquiring smaller ISPs and investing in digital infrastructure in regions where geography and high costs have hindered connectivity.
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“With our focus on rural and peri-urban markets, this investment is a key step toward impacting one million lives in Africa by 2028,” said CEO Farouk Ramji.
Mawingu’s growth strategy follows its 2024 entry into Tanzania via the acquisition of Habari, which has since grown to serve more than 3,000 users and expanded coverage to nine regions, including Arusha, Dodoma, Kilimanjaro, and Mwanza.
PRIF II’s Ridwaan Tayob said the deal tackles a significant digital divide, pointing out that although mobile internet is common, only 12 percent of households in Sub-Saharan Africa have fixed broadband.
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According to World Bank data, a 10 percent increase in broadband penetration can boost GDP growth in developing economies by 1.38 percent.
