Finnfund, the Finnish development financier and impact investor, has committed a $4 million debt investment to Poa Internet, a Kenyan internet service provider focused on delivering affordable broadband to underserved communities. This strategic funding aims to accelerate Poa’s mission of expanding high-speed internet access across low-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,” said Kelvin Kiiru, Investment Associate at Finnfund. “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.”
The investment is backed by the European Union and the European Fund for Sustainable Development Plus (EFSD+), reinforcing Finnfund’s commitment to fostering digital inclusion and economic empowerment across Africa. This investment also reflects growing Finnish-Kenyan collaboration in the digital infrastructure space. Nokia, a Finnish multinational, is Poa Internet’s preferred partner for fibre technology, providing the backbone for Poa’s broadband expansion.
“We are delighted to be partnering with Finnfund on our mission to bring internet access to every home in Africa,” said Andy Halsall, CEO of Poa Internet. “Abundant broadband connectivity is a fundamental enabler for trade, education, healthcare and government services. Using Finnfund’s financing and Nokia’s fibre infrastructure, we will be able to bring Poa’s highly affordable internet service to even more Kenyan communities and increase their digital inclusion.”
Poa Internet has been recognized for its innovative approach to delivering low-cost, high-speed internet in areas that have traditionally lacked reliable connectivity. With Finnfund’s support, the company is poised to scale its operations and deepen its impact, helping bridge the digital divide and unlock new opportunities for millions of Kenyans.
