The European Investment Bank (BEI Global) has granted a $100 million loan to Axian Telecom to support the expansion of its mobile broadband infrastructure in Madagascar and Tanzania. This funding, which is part of the Global Gateway initiative, will be used to expand 4G infrastructure in both countries.

Through its EIB Global branch, the European Investment Bank (EIB) announced USD 100 million in financing in Axian Telecom, a pan-African telecommunications operator. The information was revealed in a press release published on Thursday 10 April

The funds will be used to improve network coverage, increase capacity, and introduce advanced technologies such as 4G and 5G in targeted regions. They aim to support the expansion of Axian's mobile broadband network by USD 40 million in Madagascar and USD 60 million in Tanzania

“The global financing of $100 million from the EIB will help us develop mobile telephone infrastructure in Madagascar and Tanzania and benefit millions of people. This new large-scale investment in networks will pave the way for socio-economic growth, digital inclusion and better opportunities,” said Hassan Jaber, CEO of Axian Telecom

This financing comes a few weeks after the operator announced an investment plan of 82 million USD in Madagascar, Tanzania and Comoros, with the aim of bringing 4G coverage to 97% of the populations of these three markets by 2030. According to the DataHub platform of the International Telecommunications Union (ITU), 4G coverage in Madagascar reached 33.6% in 2023, compared to only 6.12% for 5G. In Tanzania, 4G covered around 79% of the population, while 5G was not yet deployed