Internet service provider Mawingu, which is also associated with Microsoft and offers its services in the Mount Kenya region, has announced that it is about to close a new round of investment. This development will be completed in the coming months and the funds will play a key role in its expansion plan.
Currently, Mawingu has over 7,000 active users. Most of its customers are in rural parts of the country (including central Kenya). So far, it has expanded its product to 15 counties.
The company has already begun to increase its reach in cities that are underserved and generally neglected by the big players in the industry. In recent months, Mawingu has expanded to the towns of Marsabit, Garissa, Wajir and Voi, which other providers have not given top priority due to the high investment cost and logistical complexities required for their provide reliable and affordable connectivity.
As previously reported, Mawingu also confirms that the planned funding will be used to increase its coverage in 25 additional counties. In preparation for said expansion, the company changed its name, introducing a new logo, a new set of corporate values and its renewed mission, all reflecting its long-term vision to open up opportunities for customers across the region.
Mawingu is now positioning itself as an affordable internet provider with the ability and willingness to connect border regions that have never had access to meaningful internet. In the past year alone, the company has turned positive in terms of EBITDA and increased sales by 300%, without having to incur any new expenses.
Mawingu’s goal of providing this service to underserved and unconnected areas was also explored by Loon, who used 4G internet broadcast balloons to provide a connection. Loon tested the service in Kenya alongside Telkom Kenya. However, its parent company, Alphabet, decided to shut down the business, effectively ending its program in the country and other parts of the world.
Mawingu Chief Executive Officer, Farouk RAMJI, says, “All these cities have proven that the unitary economy of expansions with flexible, low-cost infrastructure can be successful. Mawingu’s goal isn’t just to knock an internet cable out of someone’s house. We seek to help our customers access new opportunities for work, education, entertainment and social relationships, through the power of the Internet. Our company mission is driven by this specific purpose: to open up opportunities. »