AXIAN Telecom gets $100m to boost connectivity
The European Investment Bank (EIB Global) today announced a $100 million financing package for AXIAN Telecom, a pan-African telco, to support the expansion of its mobile broadband network infrastructure in Madagascar and Tanzania.
Tanzania gets $60 million in funding, while Madagascar will receive $40 million. AXIAN Telecom uses the Yas brand in both countries.
The funding will be used to develop 4G mobile broadband network infrastructure across both countries, as well as to continue the rollout of 5G coverage.
EIB said this new Global Gateway initiative, which is backed by a budgetary guarantee from the European Commission, will boost access to high-speed communications, advance inclusive digitalisation, and drive sustainable development in both countries.
This initiative, according to EIB, will also help reduce geographic disparities in telecom services access in Africa and emerging markets.
AXIAN Telecom presently serves over 44 million subscribers and is present in nine Sub-Saharan African nations, with its key mobile and landline operations in Tanzania, Madagascar, Senegal, Togo, and the Comoros.
AXIAN Telecom's CEO, Hassan Jaber said: "The US$ 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."
European Investment Bank Vice-President Ambroise Fayolle, commented: “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.”
The European Union Ambassadors to Madagascar and Tanzania have expressed their support for the EIB's investment and its significant impact on the countries' development.
Deputy Head of the EU delegation to Madagascar and the Union of the Comoros Laurent d’Ersu, stated that “This commitment from the EU through the EIB further demonstrates, in “This investment will enhance mobile broadband connectivity and bring vital opportunities for economic and social growth to all corners of Madagascar.
“The expansion of 4G and the introduction of 5G in a context of fair competition between telecommunication operators will be key drivers of digital inclusion, supporting education, innovation, and the creation of new jobs.”
While, EU Ambassador to Tanzania, Christine Grau, said: “This EIB Global investment in AXIAN Telecom, made possible through a European Union guarantee, is a concrete example of our commitment to invest in digital connectivity.
“The European Union believes that in the area of connectivity, reinforcing public-private partnerships is crucial for a human-centric model of digital transformation to ensure that no one is left behind.”