Axian Telecom has secured a US$160mn loan from the African Development Bank (AfDB) to support the operators network modernisation and expansion across its nine African markets, with a particular focus on 4G and 5G deployment.
Axian Telecom serves 42.9 million subscribers, 11.4 million data users, and 15.2 million mobile financial service users. A key focus of the funding is to address gender discrepancies, with US$10mn dedicated to empowering female entrepreneurs in Madagascar and US$2.5mn to enhance financial literacy and credit access across Madagascar, Tanzania and Senegal.
Axian Telecom has become one of Africa’s fastest-growing operators, on the path of an aggressive expansion strategy driven by acquisitions and new market expansion across the infrastructure and service layers.
The investment is expected to trickle down to Axian Telecom’s towerco TowerCo of Africa, currently the active tower infrastructure deployer and owner of Axian’s network across most markets; Madagascar, Uganda, Tanzania and most recently the DRC.
The towerco raised US$30mn from development finance institution British International Investment (BII) back in May 2024 to expand connectivity in Tanzania and has been driving organic growth across all markets. A focus of this investment was in rural expansion, and area that towercos have seen increasing deployment for to meet digital access.
Solomon Quaynor, Vice President of AfDB for Private Sector, commented ““This investment reflects the African Development Bank's commitment to driving Africa’s digital transformation and fostering inclusive growth"
"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 said, “We are honoured to partner with an organisation that shares our vision of advancing Africa's digital economy.
"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.”
