Axian Telecom has secured a $100 million financing package from the European Investment Bank (EIB).
The funding will help Axian expand its mobile broadband network infrastructure across Madagascar and Tanzania.
In particular, the financing will support Axian's expansion of its 4G mobile broadband network infrastructure across the two countries, and eventually 5G coverage.
Founded in 2003, Axian operates telecoms, network infrastructure, and data center units across Africa.
Axian claims to be the sixth-largest mobile carrier in Africa, serving more than 44 million mobile subscribers across nine markets, including Tanzania, Madagascar, Togo, Uganda, the Democratic Republic of the Congo, Senegal, Réunion, Mayotte, and the Comoros.
EIB noted that the investment is backed by a budgetary guarantee of the European Commission, claiming that it "will enhance access to high-speed communications, accelerate inclusive digitalization, and drive sustainable development across the two countries."
$60m of the financing will go towards Tanzania's network upgrades, while the remaining $40m will go to Madagascar. Axian operates under the Yas brand in both countries.
"The $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," said Hassan Jaber, CEO, Axian Telecom.
"Digital connectivity opens doors for education, business, healthcare, and social inclusion,” added 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.”
Earlier this year, Axian also secured a loan of $160 million from the African Development Bank (AfDB) to support its plans to expand its operations across its nine African markets.
Axian also has a data center subsidiary called Stellar-IX, which hosts data centers in Mauritius, Madagascar, and Tanzania.
