The African Development Bank (AfDB) has approved a $160 million senior corporate loan to AXIAN Telecom, aiming to expand digital access and financial inclusion in nine African countries. The loan will accelerate network infrastructure modernization, focus on 4G and 5G deployment, and drive digital innovation.
AXIAN Telecom, based in Mauritius, serves 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users, making it a leader in Africa’s digital transformation.
The African Development Bank’s Vice President for Private Sector, Infrastructure, and Industrialization, Solomon Quaynor, emphasized the initiative’s significance, saying, “This investment reflects the African Development Bank’s commitment to driving Africa’s digital transformation and fostering inclusive growth. By backing AXIAN Telecom’s expansion strategy, we are bridging the digital gap, generating possibilities for millions throughout the continent, and encouraging innovation.”
Quaynor described the African Development Bank’s support as part of a partnership to accelerate progress, advance financial inclusion—particularly for women—and drive sustainable development, adding, “Together, we are building the infrastructure and ecosystems that will enable Africa to thrive in the digital age.”
AXIAN Telecom CEO Hassan Jaber said, “We are honored to partner with an organization 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.”
Jabaer emphasized that the support from the African Development Bank will build on the company’s ongoing initiatives, such as expanding affordable internet access and fostering innovative solutions to bridge the digital divide. while aligning seamlessly with the recent transformation of our mobile businesses 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” development priorities, particularly “industrialize Africa” and “integrate Africa,” which enhance connectivity, foster cross-border digital services, and support financial inclusion.