Poa Internet, a Nairobi-based internet service provider, is stepping up efforts to bring affordable broadband to underserved neighborhoods after securing a US$4 million debt investment from Finnfund.<\/p>\n
The fresh capital will be used to scale up Poa\u2019s network, with fiber infrastructure supplied by Nokia, enabling the company to reach more homes and small enterprises.Poa Internet has built its business around offering low-cost fixed broadband to households and small businesses priced out of traditional internet services.FinnFund is an impact investor whose biggest shareholder is the State of Finland (96.60%), and Finland\u2019s export credit agency (3.34%).<\/p>\n
\u201cThis new investment, supported by the European Union and the European Fund for Sustainable Development Plus, underscores our commitment to fostering digital inclusion and economic growth across the continent,\u201d said\u202fKelvin Kiiru, an Investment Associate at Finnfund.<\/p>\n
By pushing into areas overlooked by larger providers, Poa Internet is positioning itself as a key player in Kenya\u2019s broadband market, where demand for reliable, affordable connections continues to soar.<\/p>\n
In May, Finnish President Alexander Stubb and his spouse Suzanne Innes-Stubb visited Kawangware, where Poa operates, to see firsthand how affordable broadband is reshaping daily life in low-income communities.<\/p>\n
\u201cAbundant broadband connectivity is a fundamental enabler for trade, education, healthcare and government services. Using Finnfund\u2019s financing and Nokia\u2019s fibre infrastructure we will be able to bring Poa\u2019s highly affordable internet service to even more Kenyan communities and increase their digital inclusion,\u201d said Andy Halsall, CEO of Poa Internet.<\/p>\n