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This will enable AXIAN to modernize its network infrastructure, expand 4G and 5G services, and fuel digital innovation across its operations.
The financing will support the construction of the region's largest battery storage system alongside a photovoltaic array.
The acquisition, finalized in mid-July 2024, positions AXIAN as WiASSUR’s second-largest shareholder and grants the conglomerate a governance role.
Under the leadership of Hiridjee, Axian Telecom has achieved remarkable growth since 2015, ranking as Africa’s seventh-largest mobile operator.
This acquisition follows AXIAN’s collaboration with GreenYellow a year ago, which brought a groundbreaking 1.8MW solar photovoltaic power plant to Madagascar’s Sava region.
The arrangement, structured in collaboration with Societe Generale Benin and Ecobank Togo, aims to propel Togocom into a new era of digital advancement.
The development follows AXIAN Telecom’s strategic move in July 2023, where the company, led by Hiridjee, increased its stake in Free in Senegal to 80 percent.
Under Hiridjee, AXIAN Group has become Madagascar’s leading energy producer.
Axian Telecom, a subsidiary of Hiridjee’s conglomerate, hopes to use the funds to support its operations in Tanzania and Madagascar.
Under Hiridjee, AXIAN Telecom has achieved remarkable growth through active acquisitions and substantial network investments since 2015.
Hiridjee and his Axian Group have executed a few telecom deals in Africa in the last few years.
AXIAN Group is now recognized as Madagascar’s top energy producer.
As many as 45,000 households and businesses will be connected to the power grid.
AXIAN Group is a Malagasy-based pan-African conglomerate.
