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Business

AXIAN Telecom Acquires Minority Stake in JUMIA

AXIAN Telecom has acquired an 8.0% stake in Jumia, the eCommerce firm operating across various markets in Africa, according to the latest U.S. Securities and Exchange Commission (SEC) filings. AXIAN Telecom adds eCommerce to its investments such as Yas (mobile)...
4G

AXIAN Telecom Secures $100M from EIB Global for Network Expansion in Madagascar and Tanzania

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...
Business

IFC Invests in AXIAN Telecom Bond to Support Digital Connectivity in Africa

IFC has invested in a maiden bond issuance by AXIAN Telecom to refinance the company's existing debt and support its digital infrastructure network expansion, primarily in Tanzania and Togo. By scaling up its digital infrastructure, AXIAN Telecom will continue to...
Tech

Wananchi Group, Zuku parent firm acquired by Mauritius’s Axian Telecom

Wananchi Group, which owns the Zuku brand across Africa, is set to be acquired by Mauritius' based Axian Telecom for undisclosed sum. Axian is set to buy 99.63 per cent of Wananchi Group according to filings at the Comesa...
Startups

AXIAN Group acquires stake in WiASSUR, an insurance startup based in Côte d’Ivoire

AXIAN Group has acquired a stake in WiASSUR, an insurance start-up based in Côte d'Ivoire. This marks a key milestone for AXIAN Group's expansion strategy in this sector. This acquisition, closed mid-July 2024, positions AXIAN as WiASSUR's second-largest shareholder. The...
Telcos

TowerCo Uganda Secures US$40 Million European Backing For Rural Telecom Expansion

TowerCo of Africa Uganda has secured US$40 million long-term financing from European development finance partners, including the European Investment Bank, the Development Bank of Austria (OeEB) and Belgian Investment Company for Developing countries, to support new investment aimed at...
Startups

Kenya to Impose 2% Tourism Levy on Airbnb and Jumia by June 2026

The Kenyan government is to bring short-term rental platforms, including Airbnb and Jumia, into the country’s formal tax net by the end of June 2026. Under a major regulatory shift announced this week, all short-term rental (STR) operators will be...
Startups

Algeria’s LabLabee Raises $3.4M to Accelerate 5G, Cloud, and AI Adoption for Telcos

LabLabee, the Algerian platform for hands-on training in telecom networks of the future, has secured $3.4 million to provide affordable hands-on training to empower professionals in the rapidly evolving tech landscape. This round was led by Reach Capital and supported...

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