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POA Internet: providing access to high-quality, low-cost Internet in Kenya
Project
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Signature date
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Location
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Kenya
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Financing tool
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Financing amount (Euro)
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420000
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Financing details
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USD 500,000 loan
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Customer
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POA International Limited
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Type of customer
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Company
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Country of headquarters
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Mauritius
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Project number
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PKE1149
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Environmental and social ranking
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C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is supporting POA via the Bridge Fund by Digital Africa facility and is thereby supporting digital inclusion in Kenya.
Client presentation
POA is a broadband, low-cost Internet service provider targeting low-income households in Kenya, particularly in the deprived neighborhoods of Nairobi (Kibera, Kawangare) and rural areas that do not have high-quality coverage.
Through two products, residential Internet and street Wifi, POA offers constant and high-quality Internet access to people who cannot afford it via traditional operators.
Project description
The financing proposal is part of the Bridge Fund by Digital Africa which aims to support African start-ups affected by the Covid-19 crisis. Proparco has allocated a EUR 420,000 loan to POA as interim financing to allow the start-up to continue its activities until its next fundraising (Series B).
Project impact
POA provides an essential service at competitive prices through its unique economic model. The start-up is a key player in digital transformation in Kenya and allows disadvantaged people to access Internet. It thereby contributes to their economic and human development, as well as to bridging the country’s digital divide.