Kenyan internet service provider Poa Internet has secured $4m in debt financing from Finnfund, the Finnish development financier, to expand its affordable broadband network to more underserved communities in the country.

The investment, which sees Finnish telecom giant Nokia serve as Poa’s preferred fibre technology partner, is aimed at closing Kenya’s persistent digital divide. While Kenya boasts one of Africa’s most dynamic digital economies, high-speed internet adoption remains concentrated in affluent urban centres. This deal will fund the expansion of Poa’s infrastructure, enabling it to bring low-cost internet to more low-income households.

“Abundant broadband connectivity is a fundamental enabler for trade, education, healthcare and government services,” said Andy Halsall, CEO of Poa Internet. “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.”

A Targeted Strategy for Connectivity

Founded in 2015, Poa Internet has carved out a niche by specifically targeting low and middle-income neighbourhoods often overlooked by larger telcos like Safaricom and Zuku. A May 2025 report from the Communications Authority of Kenya noted that while overall internet penetration is over 40%, barriers like cost and infrastructure gaps limit access for many.

Poa’s model bypasses these challenges by building its network primarily in high-density, low-income areas. As of the second quarter of the 2024/2025 financial year, the company had a subscriber base of over 238,000, giving it a 13.8% market share and making it the fourth-largest ISP in Kenya.

The investment signals a broader strategy for Finnfund, which is increasingly backing African ventures that use Finnish technology to tackle development challenges.

“Improving digital connectivity through affordable broadband supports economic growth and enables inclusive access to remote work, financial services, education, and healthcare,” said Kelvin Kiiru, Investment Associate at Finnfund.

This deal follows a similar move by Finnfund in March, when it injected an additional €2m into South African telecoms firm Fibertime Group. That investment also aims to expand fibre internet access in underserved townships, using Nokia’s technology and a pay-as-you-go model.

High-Level European Backing

The funding is supported by the European Union and the European Fund for Sustainable Development Plus (EFSD+) under the EU’s Global Gateway initiative, a strategy to boost smart, clean, and secure links in digital, energy, and transport sectors globally.

“As part of the EU’s Global Gateway, this investment in Poa Internet is bringing high-speed, affordable internet to more under-served neighbourhoods,” said Henriette Geiger, EU Ambassador to Kenya. “It proves that human-centred digitalisation is not just a vision, but a reality.”

The partnership was solidified following a visit to Poa Internet’s operations in Nairobi by Finland’s President Alexander Stubb in May 2025, underscoring the strategic alignment between the two countries on fostering digital inclusion.