South African PE fund to acquire 35% stake in Kenya’s Mawingu Networks

Pembani Remgro Infrastructure Fund II (PRIF II), a South African private equity vehicle, is set to acquire a 35% stake in Mawingu Networks, a Kenyan internet service provider, in a deal that will hand the fund controlling interest in the company.

The proposed transaction, currently under review by the Comesa Competition Commission (CCC), comes eight months after Mawingu raised $15 million…