Yas Comoros secures US$27mn IFC loan to expand broadband and 5G services

Yas Comoros, a subsidiary of AXIAN Telecom, has announced a new partnership with the International Finance Corporation (IFC) to fuel the next stage of digital development across the Union of the Comoros

This collaboration will support the expansion of mobile and fixed broadband infrastructure, promoting economic advancement and greater digital inclusion throughout the islands.

Under the terms of the agreement, IFC will provide a €25 million loan (approx. US$26.75mn) to accelerate infrastructure rollouts, boost network quality, and improve inter-island connectivity. This builds on the IFC’s initial €13 million (approx. US$13.91mn) loan provided in 2019, which supported Yas Comoros’ network launch after being awarded the country’s second telecom licence. That earlier loan, IFC’s first private sector investment in Comoros, was fully repaid in June 2025.

Now undergoing rapid expansion, Yas Comoros is the fastest-growing brand within the AXIAN Telecom group. This new funding will enable the company to meet increasing demand for data services, improve service standards, and invest in advanced technologies such as 5G, fibre to the home (FTTH), and fibre to the office (FTTO), with rollout beginning in 2025.

“This loan is an opportunity not only to modernise our network but also to invest in advanced technologies from 2025, including 5G rollout, FTTH, and FTTO, and thus accelerate the digitisation of the Union of the Comoros over the next five years,” commented Christophe Oliver, CEO of Yas Comoros. “We are committed to delivering improved connectivity solutions across the board, for consumers, SMEs, corporates, and public sector institutions, in alignment with the government’s digital vision,” he continued.

“This partnership with AXIAN Telecom marks a pivotal step in IFC’s commitment to accelerating digital transformation in Comoros and across Africa. This partnership not only supports the country’s digital ambitions, but also unlocks pathways for innovation, financial inclusion, and economic opportunity for all Comorians, especially women, youth, and rural communities,” said Mehita Fanny, IFC country manager for Comoros, Eswatini, Madagascar, Mozambique and Seychelles. “Investing in digital infrastructure is central to IFC’s strategy to foster sustainable development, empower local entrepreneurs, and ensure that no one is left behind in the digital age.”

Commenting on the development, minister of post, communications, digital economy and transparency of Comoros, Oumouri Mmadi Hassani said, “This loan of 25 million EUR granted to Yas Comoros by the IFC represents a key milestone for the telecommunications sector in the Comoros. It will contribute to the expansion and modernization of digital infrastructures, thus providing better connectivity to our entire population, particularly in rural areas. It will also support key projects to stimulate innovation and digital inclusion, enhancing the competitiveness of our businesses and contributing to the country's digital transformation. This is a strong commitment to a sustainable digital future, which will promote economic growth and the well-being of Comorians. We are pleased about the effective involvement of the IFC, which, through this financing, contributes significantly to the development of Comoros' digital economy with unparalleled transparency.”

Onafriq marks 15 years by linking nearly 1 billion mobile wallets and 500 million bank accounts

Onafriq, the continent’s leading digital payments platform, is marking 15 years of innovation and growth by announcing a major achievement: its infrastructure now connects nearly 1 billion mobile money wallets and 500 million bank accounts across Africa

What began as a simple mobile money switch has evolved into a robust, omnichannel network. Onafriq today offers a wide range of services, including cross-border payments, merchant collections, card issuance and processing, agency banking, foreign exchange, and treasury solutions. Its infrastructure enables interoperability across mobile wallets, traditional bank accounts, cards, and offline payment channels—paving the way for a more unified financial ecosystem across Africa.

“We remain fully committed to connecting every individual and business in Africa with each other and the world,” said Dare Okoudjou, founder and CEO of Onafriq. “Fifteen years ago, we set out with a bold ambition: to connect Africa’s mobile money systems and make borders matter less. What we’ve built since then is more than a network—it’s a pan-African infrastructure layer that has evolved in lockstep with the continent’s digital evolution. From mobile money to bank accounts, from remittances to real-time trade—we’ve grown as Africa has grown. I’m incredibly proud of what we’ve achieved and even more excited about the road ahead.”

From its early days of enabling mobile wallet interoperability, Onafriq has become an essential layer in Africa’s financial services landscape. The network supports everything from peer-to-peer transactions and remittances to merchant services, agency banking, and card solutions.

Currently, Onafriq’s platform connects:

• 961 million registered mobile wallets

• 464 million registered bank accounts

• More than 2,000 cross-border payment corridors

This infrastructure has made it easier for rural populations receiving social benefits, global fintechs entering African markets, and everyday users to access and use digital financial services.

Looking to the future, Onafriq is focusing on building infrastructure that supports localised needs while maintaining the scale of its continent-wide reach. “We are increasingly focused on creating infrastructure with local depth,” said Okoudjou. “A prime example is Nigeria, where we are developing a unique payments stack that combines the strength of our cross-border network with the regulatory and foreign exchange realities of one of Africa’s most dynamic economies. By building infrastructure that reflects local context, we can enable more relevant use cases—moving beyond large numbers of registered mobile money wallets to foster an ecosystem where usage is active, sustained, and impactful.”

In line with its forward-looking approach, Onafriq is exploring blockchain infrastructure and stablecoin solutions to enable near-instant, programmable payments. These innovations are aligned with the goals of the African Continental Free Trade Area (AfCFTA) and are intended to help the continent leapfrog legacy systems in favour of a mobile-first, real-time digital finance model.

With a strong execution record, an expansive reach, and a deep understanding of African markets, Onafriq continues to invest in infrastructure that supports inclusive growth and economic opportunity—both within nations and across borders.

AXIAN Telecom acquires 8% stake in JUMIA, supporting Africa’s digital economy and fintech growth

AXIAN Telecom has officially filed a Schedule 13D beneficial ownership report with the U.S. Securities and Exchange Commission (SEC), revealing that it now holds an 8.0% stake in JUMIA Technologies

The investment reflects AXIAN Telecom’s ongoing commitment to advancing Africa’s digital economy. By investing in enterprises like JUMIA, the company seeks to complement its mission of expanding accessible, inclusive, and innovative digital services across Africa—primarily through its Yas mobile services and Mixx by Yas fintech offerings.

Hassan Jaber, CEO of AXIAN Telecom, stated, “AXIAN Telecom’s management is supportive of JUMIA’s strategic vision, and we look forward to contributing positively to its growth and success where we can. We believe JUMIA’s achievements in digital retail infrastructure and fintech through JumiaPay, as well as its logistics strengths, place it in a position to promote financial and economic inclusion for the communities which it serves. This unique position makes JUMIA a very attractive investment for AXIAN Telecom, and one which is aligned with our core values.”

This move signals AXIAN Telecom’s belief in JUMIA’s potential as a key enabler of financial and economic inclusion through its e-commerce, payments, and logistics platforms.

PalmPay named fastest-growing financial services firm in Africa by Financial Times and Statista 2025. (Image source: PalmPay)

PalmPay, a leading digital finance and neobank platform serving emerging markets, has been named the fastest-growing financial services company in the Financial Times’ Fastest-Growing Companies in Africa 2025 list

Compiled in partnership with Statista, the list placed PalmPay at #2 overall out of 130 ranked companies.

The annual list highlights Africa-based firms that demonstrate strong performance across key metrics such as revenue growth, user base expansion, and operational scale. Between 2020 and 2023, PalmPay posted a compound annual growth rate (CAGR) of 583.6%, driven by its rapidly scaling suite of technology-driven financial services in Nigeria.

As of 2025, the platform has surpassed 35 million registered users, processing up to 15 million transactions daily, solidifying its role in driving the continent’s digital financial evolution.

“The Financial Times’ recognition of PalmPay as Africa’s fastest-growing fintech is a powerful validation of our approach to closing financial access gaps in underserved markets,” said Sofia Zab, founding chief marketing officer at PalmPay. “We’ve combined cutting-edge technology with localised innovation and distribution to build a leading neobank used by tens of millions to access payments, credit, savings, insurance and more. As we expand our ecosystem and enter more markets, we’re excited to continue supporting our users to achieve their financial goals, while accelerating growth for our partners.”

PalmPay’s model blends a user-centric digital financial superapp with a robust offline infrastructure of over one million merchants and agents, ensuring wide-reaching access even in traditionally underbanked regions. Its diverse offerings span money transfers, credit, merchant payments, savings, investment tools, insurance, and business services for MSMEs. It also supports B2B payment flows, easing collections and disbursements for African and global merchants serving the continent.

“Our growth is propelled by a clear vision: to empower businesses and individuals with frictionless, reliable financial tools,” remarked Jiapei Yan, group chief commercial officer at PalmPay. “We’re deepening partnerships across the fintech ecosystem to enhance payment infrastructure and foster a more connected African economy. As we scale, we remain focused on accessibility, innovation, and regional collaboration to drive the growth of digital economies in emerging markets.”

Since launching in 2019, PalmPay has played a transformative role in boosting financial inclusion and supporting the adoption of digital, cashless payments. On average, its customers perform over 50 transactions per month, engaging with both everyday payments and more long-term financial products, such as savings and insurance services. Notably, 25% of PalmPay’s users opened their first-ever financial account on the platform, marking its strong performance in integrating previously excluded communities into the formal financial system while maintaining frequent user engagement.