Axian Telecom has 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.

The Mauritius-based telco stated the loan will speed up the modernization and expansion of its network infrastructure, with a particular focus on 4G and 5G deployment.

Axian Telecom operates across nine markets in Africa, serving 42.9 mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users.

Confirming the agreement, AfDB stated that more than $10m of the loan has been earmarked to support 22,000 women entrepreneurs in Madagascar through Axian’s Mvola platform, while a $2.5m grant will enhance financial literacy and credit access for 34,000 women businesses across Madagascar, Tanzania, and Senegal.

“This investment reflects the African Development Bank's commitment to driving Africa’s digital transformation and fostering inclusive growth," said Solomon Quaynor, VP for private sector, infrastructure and industrialization, AfDB.

"By supporting Axian Telecom's growth plan, we are bridging the digital divide, creating opportunities for millions across the continent, and fostering innovation.”

Axian Telecom CEO, Hassan Jaber added: “The funding from the African Development Bank not only underscores the immense digital potential of the continent but also highlights the critical role of collaboration in driving sustainable development."

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.

The company has subsidiaries and affiliates in Tanzania, Madagascar, Togo, Uganda, the Democratic Republic of the Congo, Senegal, Réunion, Mayotte, and the Comoros.

Axian also has a data center subsidiary called Stellar-IX, which hosts data centers in Mauritius, Madagascar, and Tanzania.