Mawingu Receives KSh1.12B Funding for Network Expansion Drive

by Digital Brainiacs
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Internet service provider, Mawingu, has begun its network expansion drive to 25 additional counties across Kenya after receiving a 1.12 Billion funding secured in February 2023.
Giving a progress update, Mawingu’s Chief Executive Officer, Mr. Farouk RAMJI says: “With the reception of the KSh 1.12 Billion funding in February, we have begun to expedite Mawingu’s mid-term growth strategy of expanding our connectivity to 25 additional counties across Kenya this year.”
Already operational in 15 counties and with more than 7,500 active customers, Mawingu closed their Series B investment in February 2023, which also brought on board a new investor, InfraCo Africa, part of the Private Infrastructure Development Group (PIDG) from the United Kingdom, to join Mawingu’s institutional investors E3 Capital, a firm that invests in companies with digitized, decentralized, and decarbonized innovative business models, and the Dutch Entrepreneurial Development Bank FMO, which focuses on sustainable private…

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