Axian Telecom is set to receive a financing package of US$100 million from the European Investment Bank (EIB Global) to help expand its mobile broadband infrastructure across Madagascar and Tanzania.
The project will expand 4G infrastructure across the two countries as well as continuing the introduction of 5G coverage. This new Global Gateway investment, backed by a budgetary guarantee of the European Commission, will enhance access to high-speed communications, accelerate inclusive digitalisation, and drive sustainable development across the two countries. This investment will help reduce geographic inequality of telecom access in Africa and emerging markets.
Axian Telecom is a leading pan-African telecommunications company with a strong market position in its core areas of operation. The group currently serves over 44 million subscribers and is present in nine Sub-Saharan African countries, with its key mobile and fixed operations being in Tanzania, Madagascar, Senegal, Togo and Comoros. US$60 million of the financing will benefit Tanzania and US$40 million will go to Madagascar. Axian Telecom operates under the Yas brand in both countries.
Hassan Jaber, Axian Telecom’s CEO, said: “The US$100 million EIB Global financing will help us expand mobile phone infrastructure in Madagascar and Tanzania and benefit millions of people. This new large-scale network investment will pave the way for socio-economic growth, digital inclusion, and better opportunities.”
“Digital connectivity opens doors for education, business, healthcare and social inclusion,” stated European Investment Bank Vice-President Ambroise Fayolle. “This new investment demonstrates the EIB’s commitment to empowering communities, fostering sustainable development, and driving positive change through enhanced access to affordable high-speed communications.”
EIB Global is a key financier for telecom and digitalisation in Africa and emerging markets. The current project supports the objectives of the EU’s Digital4Development (D4D) initiative launched in 2017. It feeds into the Global Gateway strategy for Africa that seeks to mobilise up to €150 billion by 2030 for the development of physical and digital infrastructures across the continent. By collaborating with local stakeholders, telecom operators and government agencies, EIB Global aims to create a comprehensive and inclusive digital ecosystem
