Mawingu, a Kenyan internet service provider (ISP) focused on connecting underserved communities, has secured $20M in a Series C funding round. The investment was led entirely by Pembani Remgro Infrastructure Managers, a private equity fund focused on African infrastructure projects.
The new capital will be used to expand Mawingu’s network coverage in Kenya, helping the company move closer to its goal of providing meaningful internet access to one million East Africans by 2028. The company currently serves over 120,000 people.
Farouk Ramji, CEO of Mawingu, noted the difficulty of securing significant funding in the current economic climate, stating that the investment is a validation of the company’s business model and its team’s performance.
“Raising capital in today’s environment is no small feat. It demands execution, resilience, and extraordinary people,” Ramji said. “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. Together, we are building a company rooted in impact and financial sustainability.”
A Regional Buy-and-Build Strategy
This funding round follows Mawingu’s strategic expansion into Tanzania last year. In 2024, the company raised $15M in a mix of debt and equity to finance the acquisition of Habari, a Tanzanian ISP with over 25 years of experience serving rural and peri-urban areas.
That previous round, supported by investors including the Africa Go Green Fund (AGG), InfraCo Africa, and the Dutch development bank FMO, established Mawingu’s “buy-and-build” strategy for regional growth. The approach involves acquiring established local ISPs to rapidly scale its footprint and expertise across different markets.
The acquisition of Habari gave Mawingu an immediate foothold in Tanzania, a country where only an estimated 300,000 of 14 million households are connected to the internet. Mawingu’s model combines solar-powered wireless technology with a community-focused approach to bring down costs and overcome the logistical hurdles that have kept larger telecommunications companies out of these areas.
Bridging the Digital Divide
Mawingu was founded on the mission to bridge the digital divide by providing affordable and reliable internet to communities traditionally left behind by mainstream providers. Access to connectivity is a critical enabler for education, commerce, and healthcare, yet remains a significant challenge across much of East Africa due to high costs and inadequate infrastructure.
The company’s focus on financial sustainability alongside social impact has attracted infrastructure-focused investors like Pembani Remgro. Existing shareholders who have supported Mawingu’s growth include E3 Capital, FMO Investment Management, InfraCo Africa, and Microsoft.
With the new $20M injection, Mawingu is poised to deepen its presence in Kenya before looking to replicate its model in other East African markets, signaling its ambition to become a key player in transforming the region’s digital landscape.