More estates in Nairobi are set to enjoy faster and more affordable internet access after Finnish company Finnfund invested $4 million (Ksh 520 million) in Poa Internet Kenya Ltd.
This deal will enable Poa Internet, an internet service provider, to expand its network and enhance internet access.
The investment also aims to help Poa Internet close the digital gap by offering affordable broadband services to communities in Kenya that need it the most.
Kelvin Kiiru, Investment Associate at Finnfund, highlighted the importance of the partnership with Poa Internet, saying the investment will help expand high-speed internet access to lower-income areas in Kenya.
“We are excited to support Poa Internet in expanding its provision of high-speed internet to lower-income areas in Kenya.
At Finnfund, digital infrastructure is one of our strategic priorities. Improving digital connectivity through affordable broadband internet supports economic growth and enables inclusive access to remote work, financial services, education, healthcare, and provides possibilities for small businesses to connect with global value chains,” said Kelvin Kiiru, Investment Associate at Finnfund.
Nairobi Estates Set to Enjoy Faster and Cheaper Internet
Kiiru also noted that this new investment, which is backed by the European Union and the European Fund for Sustainable Development Plus, underscores Finnfund’s commitment to promoting digital inclusion and economic growth across the continent.
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Additionally, Finnfund is collaborating with Nokia, which will serve as the preferred fiber technology partner for Poa Internet.
Poa Internet’s CEO, Andy Halsall, expressed optimism about the partnership, noting that the investment would play a crucial role in bridging Kenya’s digital divide.
He stressed that broadband connectivity has become a necessity for sectors such as trade, education, healthcare, and government services.
Poa Internet to Partner with Nokia to Expand its Internet Access
According to Halsall, the collaboration with Finnfund’s financial support and Nokia’s fiber technology will enable Poa Internet to expand its highly affordable internet services to more underserved communities, thereby boosting digital inclusion and opening new opportunities for millions of Kenyans.
“With Finnfund’s financing and Nokia’s fiber infrastructure, we will be able to extend Poa’s highly affordable internet service to even more Kenyan communities and increase their digital inclusion,” said Halsall.
Also Read: Why Your Internet Device is Already Intruded; How to Stay Safe
EU Ambassador to Kenya, Henriette Geiger, praised the investment, stating that it will help bring affordable, high-speed internet to more underserved areas in Kenyan cities. She emphasized that digitalization can transform lives by creating opportunities, empowering individuals, and fostering inclusion.
Geiger added that collaboration with private companies is essential for bridging the digital divide and ensuring that more people benefit from the digital economy.
“As part of the EU’s Global Gateway, this investment in Poa Internet is bringing high-speed, affordable internet to more underserved neighborhoods and vibrant communities in Kenya’s cities,” said the EU Ambassador to Kenya.
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