Nigerian CommunicationWeek

AfDB, AXIAN Telecom Partner to Accelerate Africa’s Digital

African Development Bank (AfDB) has approved a $160 million senior corporate loan to support AXIAN Telecom to expand digital access and finan­cial inclusion in nine African countries.

The loan will accelerate the modernisation and expansion of AXIAN Telecom‘s network infrastructure, with a focus on 4G and 5G deployment; while also driving digital innovation in its operations, enabling them to expand to more countries.

AXIAN Telecom, headquar­tered in Mauritius, serves 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users, positioning itself as a leader in Africa’s digital trans­formation.

A key focus of the funding is to address gender disparities in access to financial services. Over $10 million will be dedicat­ed to empowering 22,000 women entrepreneurs in Madagascar through AXIAN’s Mvola plat­form.

Additionally, a $2.5 mil­lion grant will enhance finan­cial literacy and credit access for 34,000 women businesses across Madagascar, Tanzania, and Senegal, enabling them to grow and transition into the formal economy.

Highlighting the initiative’s importance, Solomon Quaynor, VP for Private Sector, Infrastruc­ture and Industrialisation African Development Bank’ said: “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 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.”

Has­san Jaber, CEO, AXIAN Telecom said: “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.”

 

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