Mawingu Networks (DFC-2016-MAWINGUNETWORK)

Countries
  • Kenya
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Mawingu Networks Limited
The holder of the loan, grant, or other investment.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 4.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 4.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 5.56 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 27, 2020


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Project Description

This Project is expected to have a highly developmental impact in Kenya, a low income country, by providing affordable, highspeed Wi-Fi hotspots to consumers in rural areas. The Project will also provide free device charging to its clients in a country where in 2012, only 6.7 percent of its rural population had access to electricity. The Project will utilize new technology and a new business model to reach areas currently underserved by broadband service providers. The Project is also expected to create new professional and technical job opportunities in Kenya. Until recently, Mawingu was a non-commercial technical pilot  program, funded by donors and impact investors in order to prove out the technology.

Investment Description
  • US International Development Finance Corporation (DFC)
Contact Information

No contact information provided at the time of disclosure