The Emerging Africa & Asia Infrastructure Fund (EAAIF) has announced its anchor investment in Axian Telecom’s USD 600 million 5-year bond issuance. EAAIF is a Private Infrastructure Development Group (PIDG) company managed by Ninety One,
EAAIF invested USD 40 million as part of a USD 160 million anchor investment alongside the International Finance Corporation (IFC), British International Investment (BII), DEG, and Proparco. The transaction’s orderbook saw a final 2x oversubscription, attracting over USD 1.3 billion in demand.
EAAIF’s investment will support Axian Telecom’s capital expenditure across its subsidiaries. Operating across Madagascar, Senegal, Tanzania, Togo, Uganda, Democratic Republic of the Congo , and Comoros, Axian serves over 40 million mobile customers with digital infrastructure. It includes mobile broadband networks, fibre optic cables, towers, subsea cables, and data centres. Its revenue growth, approximately 2.5-fold between 2020-2023, ranks it among the Financial Times’ fastest-growing companies in Africa.
The transaction deepens EAAIF’s partnership with Axian Telecom, having previously acted as co-anchor for its maiden USD 420 million bond issuance, which supported the company’s expansion in frontier economies across the region, including Tanzania, Madagascar, and Togo. EAAIF has led the development of bond issuances to support infrastructure in Africa, anchoring key transactions for digital champions with strong regional footprints. The Fund has also invested in pan-African data centre developers to help meet the continent’s surging demand for climate-aligned technology innovation.
Hassan Jaber, CEO of Axian Telecom, said: “We are honoured by the trust placed in us by EAAIF and our fellow anchor investors. Their support for this bond issuance is a strong vote of confidence in our long-term vision and the impact of our work. This financing enables us to scale innovative digital infrastructure across our markets and to bring transformative connectivity to millions, fostering inclusive growth and strengthening AXIAN Telecom’s role in advancing Africa’s digital future.”
Tidiane Doucoure, Director, Emerging Market Alternative Credit, Ninety One, the Fund Manager of EAAIF, said: “The development of African capital markets is and will remain a priority for PIDG and Ninety One. Expanding access to digital services unlocks new economic opportunities, and greater financial inclusion, which are crucial drivers for intra-African trade and entrepreneurial growth. This oversubscribed transaction underscores the immense potential of African businesses and the growing confidence of global investors in the region’s digital future and champions like Axian Telecom.”