Finnfund has boldly invested $4 million in Poa Internet Kenya Ltd to provide affordable broadband to underserved communities throughout Kenya.
This thrilling development has the potential to improve internet access for low-income households, thereby providing individuals and businesses with new opportunities in trade, education, and healthcare.
Affordable broadband expansion to underserved areas
Using Nokia’s fibre technology, the $4 million debt investment will enable Poa Internet to expand its broadband network, guaranteeing a scalable and dependable internet infrastructure.
Andy Halsall, Poa Internet CEO, emphasised, “With Finnfund’s support and Nokia’s infrastructure, we will bring affordable broadband access to more Kenyan communities.” Broadband is now more accessible and affordable for residents with limited or no internet access, thereby removing barriers to digital services. Providing remote workers and small businesses with access to global markets, financial services, and educational resources, Finnfund’s investment is focused on low-income neighbourhoods.
Finnfund’s commitment to digital Inclusion
Finnfund prioritises digital infrastructure, which is bolstered by the European Union and the European Fund for Sustainable Development Plus (EFSD+).
Kelvin Kiiru, an Investment Associate at Finnfund, stated, “Affordable broadband internet supports economic growth and enables inclusive access to remote work, financial services, education, healthcare, and small business participation in global value chains.”
This collaboration aligns with the EU’s Global Gateway initiative, aiming to build sustainable connectivity that creates opportunities and strengthens social inclusion across Africa.
Finland-Kenya partnership drives Impact
This investment indicates the robust Finnish-Kenyan relationship, as demonstrated by Finland’s President Alexander Stubb’s visit to Nairobi’s Kawangware community earlier this year to observe Poa Internet’s impact firsthand.
Henriette Geiger, the EU Ambassador to Kenya, stated, “Human-centred digitalisation is not just a vision but a reality empowering people, creating opportunities, and strengthening social inclusion.”
The partnership with Nokia, a preferred fibre technology provider, ensures that cutting-edge infrastructure will support the expansion, translating investments into tangible benefits for Kenyan households.
This strategic collaboration between Finnfund, Poa Internet, Nokia, and the EU marks a significant step toward bridging the digital divide, bringing affordable, high-speed internet to Kenya’s underserved populations, and unlocking new possibilities for growth and connectivity.