Poa Internet, a Nairobi-based internet service provider, is stepping up efforts to bring affordable broadband to underserved neighborhoods after securing a US$4 million debt investment from Finnfund.
- •The fresh capital will be used to scale up Poa’s network, with fiber infrastructure supplied by Nokia, enabling the company to reach more homes and small enterprises.
- •Poa Internet has built its business around offering low-cost fixed broadband to households and small businesses priced out of traditional internet services.
- •FinnFund is an impact investor whose biggest shareholder is the State of Finland (96.60%), and Finland’s export credit agency (3.34%).
“This new investment, supported by the European Union and the European Fund for Sustainable Development Plus, underscores our commitment to fostering digital inclusion and economic growth across the continent,” said Kelvin Kiiru, an Investment Associate at Finnfund.
By pushing into areas overlooked by larger providers, Poa Internet is positioning itself as a key player in Kenya’s broadband market, where demand for reliable, affordable connections continues to soar.
In May, Finnish President Alexander Stubb and his spouse Suzanne Innes-Stubb visited Kawangware, where Poa operates, to see firsthand how affordable broadband is reshaping daily life in low-income communities.
“Abundant broadband connectivity is a fundamental enabler for trade, education, healthcare and government services. Using Finnfund’s financing and Nokia’s fibre infrastructure we will be able to bring Poa’s highly affordable internet service to even more Kenyan communities and increase their digital inclusion,” said Andy Halsall, CEO of Poa Internet.
According to the latest data from the Communications Authority of Kenya (CA), Poa internet holds about 13% of the ISPs market share and added 23,461 subscribers in the quarter ending June. Poa’s business model involves offering unlimited internet at prices designed for mass-market adoption, gaining traction in Nairobi’s satellite estates and informal settlements.
