Pembani Remgro Infrastructure Fund II (PRIF II), a South African private equity firm, is set to acquire a 35 percent equity stake in Mawingu Networks, giving it a controlling interest in the Kenyan internet service provider.
The announcement was made on Friday, marking a key strategic move for PRIF II to expand its presence in East Africa’s growing digital infrastructure space.
PRIF II’s entry into the East African internet market
The acquisition deal is now under review by the Comesa Competition Commission (CCC), which oversees fair competition across the Common Market for Eastern and Southern Africa.
Although the CCC noted no direct overlaps between PRIF II and Mawingu’s operations, it will still assess the impact on market competition.
This transaction positions PRIF II to influence Kenya’s internet services, where Mawingu is famous for its innovative approach to bridging connectivity gaps.
Mawingu, a “cloud” in Kiswahili, started operations in 2013 using unused television broadcast frequencies.
Since then, it has evolved by integrating fixed wireless and fibre internet services, targeting rural and underserved areas neglected by dominant providers like Safaricom.
Mawingu’s CEO, Farouk Ramji, declined to comment extensively on the sale, stating the deal is still early and details remain confidential.
Mawingu’s growing reach attracts investment
Earlier this year, Mawingu Networks raised $15 million in debt financing, led by an $11 million loan from the Africa Go Green Fund.
This capital injection supported expansion into new regions within Kenya and helped Mawingu acquire Habari, a Tanzanian ISP based in Arusha.
The investment from PRIF II will likely accelerate Mawingu’s mission to provide affordable internet solutions to hard-to-reach areas across East Africa.
PRIF II’s portfolio already includes investments across numerous African countries and sectors, backed by heavyweight stakeholders such as the African Development Bank and the European Investment Bank.
Mawingu’s reputation for addressing the digital divide with fixed wireless technology makes it a compelling addition.
With this investment, PRIF II strengthens its foothold in Africa’s telecom sector, demonstrating confidence in Mawingu’s strategy to deliver essential connectivity infrastructure.
The CCC’s pending review will determine how this partnership shapes competition and service accessibility in the region.