Axian Telecom secures $100 million financing from EIB Global
The signing ceremony. PHOTO | COURTESY
What you need to know:
- This investment aims to enhance 4G coverage and continue the rollout of 5G services in both countries.
Dar es Salaam. Axian Telecom, the parent company of Yas, has secured a $100 million investment from the European Investment Bank (EIB Global) to expand its mobile broadband networks in Tanzania and Madagascar.
According to a joint statement issued on Thursday, April 10, $60 million will be used for the expansions in Tanzania, whereas $40 million will be dedicated for operations in Madagascar.
This investment aims to enhance 4G coverage and continue the rollout of 5G services in both countries. In Tanzania, Axian Telecom operates under the Yas brand.
The company serves over 44 million subscribers across nine Sub-Saharan African countries, including Tanzania and Madagascar.
The EIB's financing is part of the European Union's Global Gateway strategy, which supports investments in digital infrastructure to promote economic growth and digital inclusion in emerging markets.
The project is expected to reduce geographic inequality in telecom access and drive sustainable development across the two countries.
Axian Telecom's CEO, Mr Hassan Jaber, stated that the investment will expand mobile phone infrastructure in Madagascar and Tanzania and benefit millions of people, paving the way for socio-economic growth and better opportunities.
"The $100 million EIB Global financing will help us expand mobile phone infrastructure in Madagascar and Tanzania and benefit millions. This new large-scale network investment will pave the way for socio-economic growth, digital inclusion, and better opportunities,” he said.
On the other hand, the European Investment Bank’s Vice-President Ambroise Fayolle said digital connectivity opens doors for education, business, healthcare, and social inclusion.
“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,” he said.
In January 2025, the company secured significant investments, including a $160 million loan from the African Development Bank to modernize and expand its network infrastructure, focusing on 4G and 5G deployment.
