African Development Bank and AXIAN Telecom Join Forces to Accelerate Africa’s Digital Transformation

Friday, 31st January 2025.

In a landmark move to bridge Africa’s digital divide, the African Development Bank (AfDB) has approved a $160 million loan to AXIAN Telecom, a major telecommunications provider, to expand digital access and financial inclusion across nine African nations. The investment aims to modernize the company’s network infrastructure, fast-track the deployment of 4G and 5G technology, and foster innovation in mobile financial services.

Headquartered in Mauritius, AXIAN Telecom serves nearly 43 million mobile subscribers, 11.4 million data users, and over 15 million mobile financial service customers. This strategic partnership strengthens the continent’s digital transformation agenda while ensuring that millions of underserved communities gain access to fast and reliable connectivity.

A significant portion of the funding—more than $10 million—will be directed towards empowering 22,000 women entrepreneurs in Madagascar through AXIAN’s Mvola platform. Additionally, a $2.5 million grant will support financial literacy and credit access for 34,000 women-led businesses across Madagascar, Tanzania, and Senegal, enabling them to scale and transition into the formal economy.

The initiative reflects the African Development Bank’s commitment to fostering inclusive growth and leveraging digital infrastructure to drive economic transformation. Solomon Quaynor, the bank’s Vice President for Private Sector, Infrastructure, and Industrialization, emphasized the broader impact of the collaboration. “This investment is a crucial step in bridging Africa’s digital divide and unlocking opportunities for millions across the continent. Through partnerships like this, we are accelerating financial inclusion, fostering innovation, and building the ecosystems necessary for Africa to thrive in the digital era,” he said.

For AXIAN Telecom, the partnership represents a major milestone in its efforts to enhance connectivity and provide cutting-edge digital solutions to African consumers. “We are honored to work alongside an institution that shares our vision of advancing Africa’s digital economy,” said Hassan Jaber, CEO of AXIAN Telecom. “The funding from the African Development Bank highlights Africa’s immense digital potential and the role collaboration plays in fostering sustainable development.”

Jaber further noted that the investment aligns with the company’s broader efforts to expand affordable internet access and drive digital inclusion. The initiative also integrates seamlessly with AXIAN’s recent transformation of its mobile businesses under the Yas brand, reinforcing its commitment to empowering a young, digitally connected population.

The partnership is in line with the African Development Bank’s “Hi-5” development priorities, particularly “Industrialize Africa” and “Integrate Africa,” both of which focus on strengthening connectivity, promoting cross-border digital services, and expanding financial inclusion.

By leveraging the strengths of both institutions, this initiative is poised to reshape Africa’s digital landscape, empower small businesses, and ensure that technological advancements translate into real economic opportunities for millions.