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AXIAN gets $160 AfDB funding to spur digital evolution

By , Senior contributor
Mauritius , 31 Jan 2025
AXIAN Telecoms CEO, Hassan Jaber.
AXIAN Telecoms CEO, Hassan Jaber.

The Africa Development Bank (AfDB) has teamed with AXIAN Telecom, which has significant footprint across the continent, to drive digital transformation.

This week, the Bank approved a senior corporate loan of $160 million to help AXIAN Telecom increase digital access and promote financial inclusion in nine African countries.

The multimillion-dollar partnership intends to improve AXIAN's network infrastructure and accelerate the adoption of modern technologies such as 4G and 5G.

The financial injection will also help the company's digital innovation and expand its services to new countries on the continent.

Furthermore, more than $10 million will be invested in AXIAN's Mvola mobile finance platform to support 22 000 female entrepreneurs in Madagascar.

A $2.5 million grant will be used to increase financial literacy and loan access for 34 000 women-led companies in Madagascar, Tanzania, and Senegal, thereby promoting their growth and transition to the formal economy.

Headquartered in Mauritius, AXIAN Telecom serves a massive customer base of 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users.

AXIAN Telecom CEO, Hassan Jaber, said: “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

“This partnership will drive meaningful change and advance our shared mission of digital and financial inclusion.”

Solomon Quaynor, vice president for Private Sector, Infrastructure, and Industrialisation at the AfDB also emphasised the importance of the partnership.

“By supporting AXIAN Telecom’s growth plan, we are bridging the digital divide, creating opportunities for millions across the continent, and fostering innovation.

“Together, we are building the infrastructure and ecosystems that will enable Africa to thrive in the digital age,” he said.

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