Hassanein Hiridjee's Axian Telecom Secures 100 Million For Expansion

AXIAN Telecom secured a 100 million investment from EIB Global to expand 4G and 5G mobile broadband in Madagascar and Tanzania.

The funding targets underserved areas, supporting the EUs Global Gateway strategy to boost digital access and economic inclusion in Africa.

With over 42.9 million subscribers, AXIANs revenue surged 35 in 2024, reflecting rising demand for digital tools across its nine African markets.

AXIAN Telecom, a fast-growing pan-African telecom company led by Malagasy businessman Hassanein Hiridjee, has secured a 100 million investment from EIB Global, the development arm of the European Investment Bank.

The funding will support the companys ongoing efforts to expand mobile broadband in Madagascar and Tanzaniatwo of its most dynamic and promising marketsbringing faster internet and better connectivity to millions.

The financing package includes 60 million for Tanzania and 40 million for Madagascar. It will be used to grow AXIANs 4G and 5G networks, with the goal of doubling coverage and improving high-speed access in underserved areas. This move is in line with the EUs Global Gateway strategy, which aims to boost digital access, economic opportunity, and progress toward the UN Sustainable Development Goals.

Operating under the brand name Yas in both countries, AXIAN Telecom already serves more than 44 million people across nine African markets. The latest network expansion is expected to have a wide-reaching impactmaking it easier for people to access online learning, healthcare services, and digital marketplaces.

AXIAN Telecom CEO Hassan Jaber emphasized the broader importance of the partnership: This 100 million investment from EIB Global will play a vital role in bringing better connectivity to Madagascar and Tanzania. Its about giving more people the chance to participate in the digital world and opening the door to new opportunities.