Mawingu raises $20 million Series C led by Pembani Remgro

Mawingu has raised $20 million in a Series C round led by Pembani Remgro Infrastructure Managers, a private equity fund focused on African infrastructure, which led the round alone. Launch Base Africa reported on 1 October. E3 Capital, FMO Investment Management, InfraCo Africa and Microsoft are existing shareholders.

What Mawingu does

The Kenyan internet service provider serves underserved communities using solar-powered wireless technology and a community-focused model. Farouk Ramji is chief executive. The company serves over 120,000 people and wants to give one million East Africans meaningful internet access by 2028.

Expansion into Tanzania

Mawingu entered Tanzania through its acquisition of Habari, an internet provider with over 25 years of rural and peri-urban service. Launch Base Africa notes that only an estimated 300,000 of 14 million Tanzanian households are connected to the internet. A 2024 round of $15 million in debt and equity, backed by Africa Go Green Fund, InfraCo Africa and FMO, supported the Habari acquisition.

What the money is for

The new capital will go towards expanding network coverage in Kenya, with plans to replicate the model later in other East African markets. "Raising capital in today’s environment is no small feat," said Farouk Ramji, chief executive of Mawingu.

At a glance

• Company: Mawingu
• Raised: $20 million
• Round or Type: Series C
• Lead/Investors: Pembani Remgro Infrastructure Managers
• Markets: Kenya and Tanzania
• Key number: Over 120,000 people served
• Target: One million East Africans connected by 2028