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Finnfund has completed a 4 million debt investment in Poa Internet Kenya Ltd., a Kenyan internet service provider, to expand its network and increase internet accessibility. The funding aims to bridge the digital divide by delivering affordable broadband to underserved communities, enabling more inclusive access to education, healthcare, financial services, remote work, and opportunities for small businesses to connect to global markets.
Kelvin Kiiru, Investment Associate at Finnfund, highlighted that digital infrastructure is a strategic priority for the organization. He emphasized that improving connectivity through affordable broadband fosters economic growth and digital inclusion across Kenya. The investment is supported by the European Union and the European Fund for Sustainable Development Plus, reinforcing Finnfunds commitment to expanding access to digital services.
Finnfunds investment is part of a broader Finnish-Kenyan collaboration, with Nokia acting as the preferred fibre technology partner for Poa Internet. Earlier in May, Finlands President Alexander Stubb and his spouse Suzanne Innes-Stubb visited Kawangware in Nairobi to observe Poa Internets operations and the positive impact of affordable internet services on low-income communities.
Andy Halsall, CEO of Poa Internet, stated that the partnership with Finnfund will enable the company to extend its affordable broadband services to more Kenyan households, enhancing digital inclusion and connectivity. He emphasized that abundant broadband is a critical enabler for trade, education, healthcare, and public services.
Henriette Geiger, EU Ambassador to Kenya, noted that the investment, as part of the EUs Global Gateway initiative, demonstrates how human-centered digitalization can empower people, create opportunities, and strengthen social inclusion. She underscored the role of private-sector partnerships in bridging the digital divide and ensuring equitable participation in the digital economy.
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