AXIAN expands digital access with AfDB Loan

The African Development Bank has approved a US$160mn senior corporate loan to help AXIAN Telecom expand digital connectivity and financial inclusion across nine African nations

This funding will accelerate the upgrade and expansion of AXIAN Telecom’s network infrastructure, with a strong emphasis on 4G and 5G deployment, while also fostering digital innovation and enabling the company’s expansion into new markets.

Headquartered in Mauritius, AXIAN Telecom currently serves 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service customers, reinforcing its position as a key player in Africa’s digital transformation.

A major component of the investment is reducing gender disparities in financial services. Over US$10mn will be allocated to supporting 22,000 women entrepreneurs in Madagascar via AXIAN’s Mvola platform. Additionally, a US$2.5mn grant will enhance financial literacy and improve credit access for 34,000 women-led businesses across Madagascar, Tanzania, and Senegal, empowering them to scale and enter the formal economy.

Highlighting the significance of the initiative, Solomon Quaynor, vice-president for Private Sector, Infrastructure, and Industrialization at the African Development Bank, stated, “This investment reflects the African Development Bank's commitment to driving Africa’s digital transformation and fostering inclusive growth. By supporting AXIAN Telecom's growth plan, we are bridging the digital divide, creating opportunities for millions across the continent, and fostering innovation.”

Quaynor emphasised that the Bank’s support is part of a broader collaboration to advance financial inclusion—particularly for women—accelerate progress, and promote sustainable development. He added, “Together, we are building the infrastructure and ecosystems that will enable Africa to thrive in the digital age.”

AXIAN Telecom CEO, Hassan Jaber, welcomed the partnership, remarked, “We are honoured to partner with an organisation that shares our vision of advancing Africa's digital economy. The funding from the African Development Bank not only underscores the immense digital potential of the continent but also highlights the critical role of collaboration in driving sustainable development.”

Jaber highlighted that the funding will enhance AXIAN Telecom’s ongoing efforts to expand affordable internet access and develop innovative solutions to close the digital divide. He also noted that the investment aligns with the recent rebranding of the company’s mobile operations under the Yas brand. 

“Yas represents our commitment to empowering a young, dynamic, and digitally connected population, embracing every opportunity with a resounding 'YES.' Together, this collaboration will help drive meaningful change across Africa’s digital landscape, furthering our shared mission of digital and financial inclusion,” he added.

The partnership aligns with the African Development Bank’s “Hi-5” strategic priorities, particularly "Industrialize Africa" and "Integrate Africa," which aim to enhance connectivity, promote cross-border digital services, and expand financial inclusion.