The African Development Bank (AfDB) has approved a $160 million loan to AXIAN Telecom to expand digital access and financial inclusion in nine African countries. The funding will support network expansion, focusing on 4G and 5G deployment and digital innovation.
A key focus is addressing gender disparities in financial services. Over $10 million will support 22,000 women entrepreneurs in Madagascar through AXIAN’s Mvola platform, while a $2.5 million grant will enhance financial literacy and credit access for 34,000 women-led businesses in Madagascar, Tanzania, and Senegal.
AXIAN Telecom serves 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users. The investment aligns with the African Development Bank’s goals to enhance connectivity, foster digital services, and promote financial inclusion.