Finnfund Invests $4 Million in Poa Internet to Expand Affordable Broadband Access Across Kenya

Finnfund, Finland’s development financier, has recently announced a $4 million debt investment in Poa Internet Kenya Ltd., a leading internet service provider in Kenya. The funding is aimed at bolstering Poa Internet’s network infrastructure to expand affordable broadband access to underserved communities across the country. This initiative is part of the EU’s Global Gateway program and is supported by the European Union and the European Fund for Sustainable Development Plus (EFSD+).

Established in 2015, Poa Internet has emerged as a key player in offering cost-effective internet services to low- and middle-income areas in Kenya. The company provides unlimited home internet plans starting at KES 1,575 per month, a significantly lower price compared to traditional providers. With over 238,000 subscribers, Poa Internet is one of the largest internet service providers in Kenya.

The investment from Finnfund will facilitate the expansion of Poa Internet’s fiber network by leveraging Nokia’s technology to enhance infrastructure and service delivery. This funding underscores Finnfund’s dedication to promoting digital inclusion and driving economic growth across Africa.

This partnership aligns with Kenya’s strategic objectives of bridging the digital divide and ensuring inclusive access to digital services. By improving internet connectivity in underserved regions, the initiative aims to unlock opportunities in sectors such as education, healthcare, and economic development.

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