South African Fund Eyes Controlling Stake in Kenyan ISP Mawingu Networks
Pembani Remgro Infrastructure Fund II (PRIF II), a South African private equity firm, is looking to acquire a significant 35% stake in Mawingu Networks, a Kenyan internet service provider. This proposed deal would give PRIF II a controlling interest in Mawingu, a company known for its rapid expansion in the Kenyan market. The transaction is currently under review by the Comesa Competition Commission (CCC), the body responsible for ensuring fair competition across numerous African nations. The CCC’s decision will be pivotal for both Mawingu and the broader regional internet landscape.
Mawingu’s Rural Internet Expansion Attracts Investment
Mawingu Networks has garnered international recognition for its dedication to delivering affordable internet access to underserved rural and peri-urban communities in Kenya and potentially beyond. The company employs a strategy combining fixed wireless and fibre internet solutions to connect regions that larger internet providers often neglect. This innovative approach has proven successful, as evidenced by Mawingu’s earlier $15 million fundraising round this year.
The potential acquisition by PRIF II highlights the increasing investor confidence in African tech companies, particularly those focused on bridging the digital divide. If approved, this deal could provide Mawingu Networks with the resources to further expand its reach and solidify its position as a leading internet provider in East Africa. The Comesa Competition Commission’s decision is keenly awaited as it will shape the future of this promising Kenyan company.
Keywords
Related Keywords: South African PE Fund, Mawingu Networks, Kenya, Private Equity, Investment, Africa Telecom, Internet Service Provider, Emerging Markets, Telecom Acquisition, PE Fund Kenya
