AXIAN Telecom has received $100 million investment from EIB Global for mobile broadband network expansion in Madagascar and Tanzania through the European Union Global Gateway strategy which aims to double 4G coverage in both Madagascar and Tanzania; and will continue the roll-out of 5G sites.
The $ 100 million from European Investment Bank (EIB Global) to AXIAN Telecom will support the expansion of its mobile broadband network infrastructure across Madagascar and Tanzania and expand 4G mobile broadband network infrastructure across the two countries as well as continuing the introduction of 5G coverage.
According to AXIAN Telecom’s CEO, Mr Hassan Jaber, “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.”
This investment will enhance access to high-speed communications, accelerate inclusive digitalisation, and drive sustainable development across the two countries. This investment will help reduce geographic inequality of telecom access in Africa and emerging markets.
AXIAN Telecom currently serves over 44 million subscribers and is present in nine Sub-Saharan African countries with its key mobile and fixed operations being in Tanzania, Madagascar, Senegal, Togo and Comoros.
US$ 60 million of the financing will benefit Tanzania and US$ 40 million will go to Madagascar. AXIAN Telecom operates under the Yas brand in both countries.
“Digital connectivity opens doors for education, business, healthcare and social inclusion,” stated 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.”
Improved connectivity plays a pivotal role in advancing socio-economic development, and this investment under the European Union Global Gateway Strategy aligns with the United Nations Sustainable Development Goals (SDGs). By expanding a resilient and energy efficient mobile broadband infrastructure, the new EIB Global investment will unlock numerous SDG benefits, including sustained, inclusive, and sustainable economic growth, leading to the creation of quality jobs. Fragile communities will gain access to the tools and resources necessary to connect with the wider world, fostering knowledge sharing, e-commerce, and innovation.
Though AXIAN Telecom is operating in a highly competitive market, the burgeoning youth population across countries of operation is expected to accelerate growth of demand for mobile communications and digital services.
