Internet Service Provider, Mawingu, has said it’s on the verge of closing a new investment round in the coming months, as it moves to capture a larger share of the digital market in the country.
The ISP which caters mostly for rural parts of Kenya, says it now has over 7,000 active users, and presence in 15 counties, notably in the Mount Kenya region.
The company says it has already begun to increase its outreach into towns which have not been well served and generally neglected by the larger players in the industry.
In the past few months, Mawingu has expanded into:
- Wajir, and
- Voi towns
These are towns other providers have not given primary priority due to the high capital cost and logistical complexities involved in providing them with reliable and affordable connectivity.
Mawingu’s Chief Executive Officer, Farouk RAMJI says, “All these towns have proved that the unit economics of expansions with low-cost and flexible infrastructure can be successful.”
Mawingu also confirms that the expected funding will be utilised to increase its coverage into 25 additional counties. In preparation for the said expansion, the company has rebranded, introducing a new logo, a fresh set of company values, and its renewed mission, all reflective of its long-term vision to open opportunities to customers across the region.
Mr. RAMJI adds, “Mawingu’s aim is not to simply drop an Internet cable at someone’s house. We seek to help our customers access new opportunities for work, education, entertainment, and social connections, through the power of the Internet. Our company’s mission is driven by this very purpose: Open Opportunities.”
Mawingu will now be positioning itself as a provider of quality Internet at affordable rates, with the capacity and desire to connect frontier regions that have never had access to meaningful Internet. In just the past year, the company says it became EBITDA positive, and grew its sales by 300%, without having to incur new expenses.
The Kenyan Internet industry has traditionally been dominated by a few well-established players who have captured the larger share of the market in urban areas. Yet, the lack of rural Internet penetration has left a customer gap which smaller and more agile companies are now learning how to leverage.