Internet Service Provider (ISP), Mawingu, today announced the acquisition of Habari, an Arusha-based ISP with operations across seven regions in Tanzania.
Habari has more than 25 years of experience delivering Internet and ICT solutions to rural households and businesses across Tanzania. This acquisition will rapidly accelerate Mawingu’s vision of opening opportunities through enhanced digital connectivity across East Africa in areas that have traditionally not been given priority due to the high capital cost and logistical complexities involved in ensuring a stable, reliable, and affordable service.
Mawingu has raised KSh 1.9 Billion ($15 million) of debt and equity financing to enable this expansion into East Africa. The Africa Go Green Fund (“AGG”), managed by Cygnum Capital, will provide KSh1.4 Billion ($11 million) of long-term senior debt. This is supported by an additional KSh0.5 Billion ($4 million) investment from InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and from Dutch Entrepreneurial Development Bank FMO.
This acquisition will enable the company to replicate its wins in Kenya, into Tanzania and East Africa. The primary objective is to scale Mawingu’s affordable home Internet proposition to underserved communities in East Africa by acquiring and growing ISPs in the target markets.
