Mawingu Networks, a Kenyan internet service provider targeting underserved communities, has secured US$20 million in Series C funding to accelerate its network rollout and regional growth.
- •The funding round led by South Africa’s Pembani Remgro Infrastructure Managers, comes as the company seeks to scale affordable wireless and fiber connectivity across Kenya and Tanzania.
- •Founded in 2012, Mawingu currently serves more than 120,000 users and is aiming to connect one million people in East Africa by 2028.
- •The fresh capital follows Mawingu’s 2024 entry into Tanzania through the US$15 million acquisition of ISP Habari, and its own ongoing acquisition by South Africa-based fund Pembani Remgro Infrastructure Fund II (“PRIF II”).
“Raising capital in today’s environment is no small feat. This Series C is more than just a financing milestone. It’s a celebration of our people, our partners, and the shared belief that connectivity can transform lives,” said Mawingu CEO, Farouk Ramji.
The deal also deepens the role of Pembani Remgro in the region, which earlier this year drew the attention of the COMESA Competition Commission over its plan to acquire a significant stake in Mawingu through a special purpose vehicle.
Regulators are reviewing whether the ownership shift could alter competition in a market where Safaricom, Jamii, and Wananchi dominate.
Mawingu has doubled its subscriber base over the past year to 76,650, making it Kenya’s seventh-largest fixed internet provider with a 3.6% market share as of June, according to the Communications Authority of Kenya.