Malagasy Businessman Hassanein Hiridjee's Axian Telecom Lands 160 Million Financing To Enhance Infrastructure

AXIAN Telecom, a leading pan-African telecommunications provider under Axian Group, led by Malagasy businessman Hassanein Hiridjee, has secured a 160 million financing from the African Development Bank AfDB to drive digital transformation and enhance financial inclusion across nine African countries. This will enable AXIAN to modernize its network infrastructure, expand 4G and 5G services, and fuel digital innovation across its operations.

The investment will help AXIAN strengthen its network, particularly in underserved regions, as it broadens its reach across the continent. As Africa continues its digital shift, the company is meeting the rising demand for high-speed connectivity and mobile financial services, positioning itself as a key player in the regions digital evolution.

A portion of the funds10 millionwill go toward empowering 22,000 women entrepreneurs in Madagascar through AXIANs Mvola platform. An additional 2.5 million will focus on improving financial literacy and access to credit for 34,000 women-led businesses in Madagascar, Tanzania, and Senegal, helping them enter the formal economy.

Solomon Quaynor, Vice President for Private Sector, Infrastructure, and Industrialization at AfDB, emphasized the importance of the funding in bridging Africa's digital gap. This investment promotes financial inclusion, drives digital innovation, and opens up new opportunities across the continent, he stated. Quaynor also reiterated AfDBs commitment to supporting financial access and building digital infrastructure to accelerate Africa's growth.

Hassan Jaber, CEO of AXIAN Telecom, praised the partnership with AfDB as a crucial step toward expanding affordable internet and narrowing Africas digital divide. AfDBs support strengthens our commitment to improving connectivity and fostering inclusion, Jaber said.