MAWINGU NETWORKS LIMITED
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Founded in 2013, the Kenya based Mawingu Networks seeks to leverage its low-cost distribution infrastructure and proprietary technology platform to provide internet to rural and peri-urban unconnected communities in Kenya, with expansion plans across East Africa. The company is a Wireless Internet Service Provider (WISP), which offers business, home and public internet services that are low-cost, reliable, data-unlimited.
What is our funding objective?
The investment is a top-up of a pre-Series B convertible note that will provide Mawingu with the necessary funds to grow the business further and reach more customers in Africa.
Why do we fund this investment?
This investment is aligned with FMO's objectives to support Inclusive Business models as Mawingu is providing internet connectivity to underserved communities in rural and peri-urban Kenya.
What is the Environmental and Social categorization rationale?
E&S category is B. The investment has limited adverse environmental or social risks that are few in number, generally site specific, reversible, and readily addressed through mitigation measures.
More investments
| Date | Total FMO financing |
|---|---|
| 12/28/2022 | USD 1.50 MLN |
| 4/26/2024 | USD 2.00 MLN |
- Region
- Africa
- Country
- Kenya
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 12/14/2021
- Total FMO financing
- USD 0.60 MLN
- Funding
- Building Prospects
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B