AfDB Approves $160M Loan to AXIAN Telecom to Expand Digital Access and Financial Inclusion

The funding will support 4G and 5G network expansion, enhance digital innovation, and extend financial services to underserved communities, particularly women entrepreneurs in Madagascar, Tanzania, and Senegal.


Devdiscourse News Desk | Abidjan | Updated: 31-01-2025 17:51 IST | Created: 31-01-2025 17:51 IST
AfDB Approves $160M Loan to AXIAN Telecom to Expand Digital Access and Financial Inclusion
The loan will enable AXIAN to modernize its telecom infrastructure, expand into new markets, and increase digital connectivity—a vital step in closing Africa’s digital divide. Image Credit:

The African Development Bank (AfDB) has approved a $160 million senior corporate loan to AXIAN Telecom to accelerate digital expansion, financial inclusion, and gender equality across nine African countries.

The funding will support 4G and 5G network expansion, enhance digital innovation, and extend financial services to underserved communities, particularly women entrepreneurs in Madagascar, Tanzania, and Senegal.

Transforming Africa’s Digital Landscape

Headquartered in Mauritius, AXIAN Telecom is a key player in Africa’s digital transformation, serving: 

42.9 million mobile subscribers 

11.4 million data users 

15.2 million mobile financial service users

The loan will enable AXIAN to modernize its telecom infrastructure, expand into new markets, and increase digital connectivity—a vital step in closing Africa’s digital divide.

A central pillar of the funding is enhancing financial inclusion for women, with: 

$10 million dedicated to empowering 22,000 women entrepreneurs in Madagascar through AXIAN’s Mvola platform 

$2.5 million grant to improve financial literacy and credit access for 34,000 women businesses across Madagascar, Tanzania, and Senegal

AfDB and AXIAN: A Shared Vision for Digital Transformation

African Development Bank’s Vice President for Private Sector, Infrastructure, and Industrialization, Solomon Quaynor, emphasized that this investment reflects the 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. 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 investment, highlighting the critical role of partnerships in 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 importance of collaboration in driving sustainable development. This investment will allow us to expand affordable internet access, foster innovation, and create transformative solutions that will bridge the digital divide.”

Empowering Africa’s Youth and Entrepreneurs

AXIAN Telecom recently rebranded its mobile businesses under the Yas brand, a move aimed at empowering Africa’s young and dynamic digital generation.

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

Alignment with AfDB’s “Hi-5” Development Priorities

This partnership aligns with the African Development Bank’s “Hi-5” strategic priorities, particularly: 

Industrialize Africa – Enhancing digital infrastructure and connectivity

Integrate Africa – Expanding cross-border digital services and financial inclusion

By leveraging technology to increase access to financial services and digital connectivity, this initiative will play a critical role in unlocking Africa’s economic potential, empowering entrepreneurs, and creating sustainable development opportunities.

Final Thoughts: A Digital Future for Africa

With Africa’s digital economy projected to be worth $180 billion by 2025, investments like these are crucial to ensuring inclusive access to digital services, financial tools, and economic opportunities.

By partnering with AXIAN Telecom, the African Development Bank is paving the way for a future where millions of Africans have better access to connectivity, financial services, and economic empowerment—driving the continent forward in the digital age.

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