Kenyan internet company, Mawingu has received a US$4.1-million loan from the Overseas Private Investment Corporation (OPIC). The loan will be used to roll out solar-powered wireless internet packs into rural communities.
The loan was awarded to Mawingu for their proven model which successfully uses TV White Space connectivity to connect to the internet while being off the grid.
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OPIC is an initiative of the US government to mobilise private capital to help out development challenges across the globe.
Mawingu has already received investments from other notable companies such as Microsoft 4Afrika initiative, US Agency for International Development (USAID) as well as funding from various other Angel Investors.
“We are excited to announce during this week’s Africa U.S. Business Forum OPIC support for a highly developmental investment in Africa. Mawingu’s technology and ingenuity will make it possible to provide affordable, solar-powered wireless internet to communities throughout rural Kenya,” said OPIC’s president and CEO, Elizabeth L. Littlefield in a press release.
“Its extensive reach will connect many of these developing communities to the World Wide Web for the first time, and we look forward to the growth and unlimited potential that this project will unveil with OPIC financing,” continued Littlefield.
Mawingu received the loan due to its use of TV White Space connectivity for internet
“We see this as a tremendous opportunity to build upon our successful pilot project, and this funding will help us to accelerate the roll out of our network in rural areas across Kenya and beyond,” continued Hobbs.
“It is becoming increasingly clear that affordable access to the internet is a powerful driver of economic growth and Mawingu is committed to making sure that this opportunity is available to as many Kenyans as possible,” concluded Hobbs.
Featured image: Ninara via Flickr
