The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has announced a major anchor investment in Axian Telecom’s latest $600 million five-year bond issuance, reinforcing its commitment to advancing digital connectivity across frontier markets.
As part of a $160 million anchor tranche, EAAIF contributed $40 million, joining forces with other leading development finance institutions including the International Finance Corporation (IFC), British International Investment (BII), DEG, and Proparco. The issuance attracted strong investor interest, closing with a 2x oversubscription and generating over $1.3 billion in demand.
Axian Telecom operates in seven African countries—Madagascar, Senegal, Tanzania, Togo, Uganda, the Democratic Republic of the Congo, and Comoros—serving more than 40 million mobile users. The company provides critical digital infrastructure, including mobile broadband networks, fibre optic systems, telecom towers, subsea cables, and data centres, playing a pivotal role in bridging the digital divide across the continent.
This bond issuance builds on EAAIF’s existing relationship with Axian Telecom. The fund previously co-anchored the company’s $420 million debut bond issuance, which supported Axian’s expansion into key frontier markets such as Tanzania, Madagascar, and Togo.
Hassan Jaber, CEO of Axian Telecom, expressed gratitude for the continued support from EAAIF and its co-investors:
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 for Emerging Market Alternative Credit at Ninety One, emphasized the broader significance of the transaction:
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—key drivers of 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.
