MAWINGU NETWORKS LIMITED
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.
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.
- Infrastructure, Manufacturing and Services
- Signing date
- Total FMO financing
- USD 1.50 MLN
- 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)