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Key Points
- AXIAN Telecom secured a $100 million investment from EIB Global to expand 4G and 5G mobile broadband in Madagascar and Tanzania.
- The funding targets underserved areas, supporting the EU’s Global Gateway strategy to boost digital access and economic inclusion in Africa.
- With over 42.9 million subscribers, AXIAN’s revenue surged 35% in 2024, reflecting rising demand for digital tools across its nine African markets.
AXIAN Telecom, a fast-growing pan-African telecom company led by Malagasy businessman Hassanein Hiridjee, has secured a $100 million investment from EIB Global, the development arm of the European Investment Bank.
The funding will support the company’s ongoing efforts to expand mobile broadband in Madagascar and Tanzania—two of its most dynamic and promising markets—bringing faster internet and better connectivity to millions.
Strengthening connections across Africa
The financing package includes $60 million for Tanzania and $40 million for Madagascar. It will be used to grow AXIAN’s 4G and 5G networks, with the goal of doubling coverage and improving high-speed access in underserved areas. This move is in line with the EU’s Global Gateway strategy, which aims to boost digital access, economic opportunity, and progress toward the UN Sustainable Development Goals.
Operating under the brand name Yas in both countries, AXIAN Telecom already serves more than 44 million people across nine African markets. The latest network expansion is expected to have a wide-reaching impact—making it easier for people to access online learning, healthcare services, and digital marketplaces.
AXIAN Telecom CEO Hassan Jaber emphasized the broader importance of the partnership: “This $100 million investment from EIB Global will play a vital role in bringing better connectivity to Madagascar and Tanzania. It’s about giving more people the chance to participate in the digital world and opening the door to new opportunities.”
AXIAN Telecom grows revenue, eyes expansion
Headquartered in Mauritius, AXIAN Telecom is currently the sixth-largest telecom operator in Africa, with 42.9 million mobile subscribers and 15.2 million users of its mobile financial services. It operates across nine countries, with key markets including Tanzania, Madagascar, Senegal, Togo, and Comoros.
Under Hassanein Hiridjee, the company posted strong growth in 2024. Revenue jumped nearly 35 percent in the first nine months of the year, rising from $762.8 million to over $1 billion—a sign of the growing demand for digital tools and services across the continent.
Earlier this year, on Jan. 29, AXIAN also secured $160 million in financing from the African Development Bank to drive digital transformation and expand access to financial services. With continued backing from global partners and a focus on fast-growing, youthful markets, AXIAN is well-positioned to push deeper into the digital space, build out its infrastructure, and help shape the future of connectivity across Africa.
