The African Development Bank (AfDB) has approved a $160 million senior corporate loan to support AXIAN Telecom in expanding digital access and financial inclusion across nine African countries. The funding will accelerate 4G and 5G deployment, modernize network infrastructure, and drive digital innovation to increase connectivity across the continent.
Headquartered in Mauritius, AXIAN Telecom currently serves 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users. A significant portion of the loan will address gender disparities in financial access, with $10 million dedicated to empowering 22,000 women entrepreneurs in Madagascar through the company’s Mvola platform. Additionally, a $2.5 million grant will enhance financial literacy and credit access for 34,000 women-led businesses across Madagascar, Tanzania, and Senegal, helping them grow and transition into the formal economy.
Solomon Quaynor, AfDB’s Vice President for Private Sector, Infrastructure, and Industrialization, emphasized the project’s impact on Africa’s digital transformation. He noted that the investment is part of AfDB’s broader commitment to bridging the digital divide, fostering innovation, and creating economic opportunities for millions across the continent.
AXIAN Telecom’s CEO, Hassan Jaber, highlighted the importance of collaboration in driving sustainable development. He described the funding as a boost to the company’s ongoing efforts to expand affordable internet access and develop innovative solutions that will further Africa’s digital and financial inclusion agenda.
“This partnership reinforces our commitment to empowering a young, dynamic, and digitally connected population,” Jaber said, adding that the investment will help drive meaningful change across Africa’s digital landscape.
With this funding, AXIAN Telecom is positioned to extend its reach into new markets, strengthen its financial services offering, and contribute to Africa’s broader economic growth through digital transformation.
