Internet firm Mawingu gets Sh1.1bn for expansion drive
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Nairobi, Feb. 2 -- Rural and peri-urban Internet service provider Mawingu Networks has received $9 million (Sh1.1 billion) in funding from three equity investors to fuel its expansion drive.
The latest funding saw the entry of a new investor, InfraCo Africa, adding to existing institutional investors E3 Capital and Dutch development bank FMO.
InfraCo invested $6 million (Sh739.5 million) while the other two contributed $1.5 million (Sh185 million) apiece.
"InfraCo Africa's $6 million commitment, delivered through its dedicated investment arm, will support Mawingu to roll out infrastructure across Kenya that will increase access to affordable Internet connectivity to underserved households and businesses," said the infrastructure invest...
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