Project detail - MAWINGU NETWORKS LIMITED

MAWINGU NETWORKS LIMITED

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Who is our client

Founded in 2013, the Kenya based Mawingu Networks seeks to leverage its low-cost distribution infrastructure and proprietary technology platform to provide internet to rural and peri-urban unconnected communities in Kenya, with expansion plans across East Africa. The company is a Wireless Internet Service Provider (WISP), which offers business, home and public internet services that are low-cost, reliable, data-unlimited.

Funding objective

The investment is a pre-Series B convertible note that will provide Mawingu with the necessary funds to grow the business further and reach more customers in Africa.

Why we fund this project

This investment is aligned with FMO's objectives to support Inclusive Business models as Mawingu is providing internet connectivity to underserved communities in rural and peri-urban Kenya.

Environmental and social rationale

E&S category is B. The investment has limited adverse environmental or social risks that are few in number, generally site specific, reversible, and readily addressed through mitigation measures.

Region
Africa
Country
Kenya
Sector
Infrastructure, Manufacturing and Services
Signing date
7/28/2020
Total FMO financing
USD 1.50 MLN
Fund
Building Prospects
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B