Kenyan Internet Service Provider (ISP) Mawingu Networks has acquired Arusha-based ISP Habari for KSh 1.9 billion.
The acquisition, which was largely funded by a KSh 1.4 billion long-term senior debt from the Africa Go Green Fund managed by Cygnum Capital, will enable Mawingu to accelerate its mission of positively impacting 1 million East Africans by 2028 through its “buy-and-build” strategy.
Additional financing of $15 million was also secured from InfraCo Africa and the Dutch Entrepreneurial Development Bank FMO to support Mawingu’s plans.
“This acquisition, along with the additional financing, will allow Mawingu to deliver on our commitment to providing affordable and reliable internet connectivity to homes in Tanzania, where only 300,000 out of 14 million homes are currently connected,” said Farouk Ramji, CEO of Mawingu Networks.
Mawingu, a 14-year-old ISP, currently serves 20,000 homes and businesses across 30 Kenyan counties with 175 base stations, holding a 2.6% market share in the Kenyan ISP sector, according to the latest data from the Communications Authority of Kenya (CA). Habari, on the other hand, has been operational for 25 years and serves seven regions in Tanzania.
“This investment underscores our commitment to a climate-resilient Africa, where connectivity and sustainability go hand-in-hand to support economic growth and environmental stewardship,” said Laurène Aigrain, Managing Director of the Africa Go Green Fund.
The acquisition of Habari is a strategic move by Mawingu Networks to expand its reach and impact in the East African region, leveraging on the combined expertise and resources of the two ISPs to deliver affordable and reliable internet connectivity to underserved communities.
