Thousands of low-income Kenyan households are poised to benefit from affordable internet connectivity after Finnish development financier Finnfund injected over Ksh500 million ($4 million) into a local internet service provider.
The funding, backed by the European Union and the European Fund for Sustainable Development Plus (EFSD+), is aimed at bridging the digital divide by providing high-speed internet to underserved communities.
Finnfund is pumping over Ksh500 million into Poa Internet, a local service provider focused on affordable broadband.
Finnfund is hoping to boost digital access to Kenyans in these areas and, in turn, create job opportunities, digital education, and literacy for these Kenyans.
"Improving digital connectivity through affordable broadband internet supports economic growth and enables inclusive access to remote work, financial services, education, and healthcare, and provides possibilities for small businesses to connect with global value chains," Kelvin Kirui, Investment Associate at Finnfund, said.
"This new investment, supported by the European Union and the European Fund for Sustainable Development Plus, underscores our commitment to fostering digital inclusion and economic growth across the continent," Kirui continued.
The move comes months after Finland President Alexander Stubb and his spouse Suzanne Innes-Stubb visited Kawangware in Nairobi to learn about the local ISP’s operations in the area, including affordable residential internet services and the transformative impact of connectivity in low- income communities.
"We are delighted to be partnering with Finnfund on our mission to bring internet access to every home in Africa. Abundant broadband connectivity is a fundamental enabler for trade, education, healthcare, and government services," Andy Halsall, CEO of the local ISP, said.
The move will benefit residents from areas like Kawangware, Mathare, Kibra, and other areas infested by low-income-earning Kenyans.
The investment is a continued boost to the diplomatic relationship that both Kenya and Finland have been enjoying for decades.
During his visit in May, the Finnish president revealed that he was surprised that he was the first Finnish President to visit Kenya despite the deep diplomatic relations the two countries enjoy.
“We have a long history together, and I’m sure that our future will be good too,” President Stubb said.
