Axian Consortium invests US$500m in Tigo and Zantel

04 May 2021

Axian Consortium plans to invest US$500m in the Tanzanian telecom market over the next five years.

The move follows the signing April 19 of an agreement with Millicom International Cellular (MIC) for the acquisition of its subsidiaries Tigo Tanzania and Zanzibar Telecom (Zantel).

The investment will help expand the two subsidiaries’ coverage across the country, with a particular focus on 4G technology.

“Axian is starting a new chapter in Tanzania, and Zanzibar in the long term. We are convinced that Axian’s model will accelerate digital inclusion and open up access to innovative services for populations while supporting economic growth,” said Axian CEO Hassanein Hiridjee.

Axian's move comes timely for Tigo Tanzania and Zantel, which like other telecom companies in the country are experiencing an increase in demand for broadband connectivity.