Kenya-based Internet Service Provider (ISP) Mawingu has announced the acquisition of Arusha-based counterpart Habari after it raised $15 million (Sh1.9 billion at current rates) as part of its regional expansion drive.
The new financing, a mix of debt and equity, is powered by the Africa Go Green Fund (AGG), which will provide $11 million (Sh1.4 billion) of long-term senior debt, while Infraco Africa and Dutch development fund FMO will pump in a $4 million (Sh0.5 billion) investment.
