02 May 2025
The European Investment Bank (EIB), through its EIB Global arm, has announced a substantial financing package of US$100 million for Axian Telecom, a pan-African telecommunications operator.
The funding will be allocated to enhance network coverage, increase capacity, and introduce advanced technologies such as 4G and 5G in targeted regions. US$40 million will support the expansion of Axian’s mobile broadband network in Madagascar, while USD 60 million will be directed towards similar initiatives in Tanzania.
“The EIB’s overall financing of $100 million will help us develop mobile telephony infrastructure in Madagascar and Tanzania and bring it to millions of people. This new large-scale investment in networks will pave the way for socio-economic growth, digital inclusion, and greater opportunities,” said Hassan Jaber, CEO of Axian Telecom.
This funding comes shortly after Axian Telecom’s announcement of an $82 million investment plan aimed at enhancing 4G coverage to 97% of the population in Madagascar, Tanzania, and the Comoros by 2030. According to data from the International Telecommunication Union’s (ITU) DataHub platform, Madagascar’s 4G coverage stood at only 33.6% in 2023, with a mere 6.12% for 5G. In contrast, Tanzania saw 4G coverage reach about 79%, but 5G services have yet to be deployed.
The network expansion facilitated by this financing will enable more people to access reliable mobile and internet services, thereby reducing inequalities in access to information and digital services. It is anticipated that these improvements will stimulate economic growth across various sectors, including trade, education, and health.
