The Emerging Africa & Asia Infrastructure Fund (EAAIF), part of the Private Infrastructure Development Group (PIDG) and managed by Ninety One, has played a pivotal role in Axian Telecom’s latest $600 million bond issuance, marking a major leap forward in digital connectivity across Africa.
As an anchor investor, EAAIF contributed $40 million to a $160 million collective anchor commitment alongside development finance leaders including IFC, British International Investment (BII), DEG, and Proparco.
The five-year bond saw overwhelming demand, closing with a 2x oversubscription and attracting over $1.3 billion in investor interest—testament to the market’s confidence in Axian Telecom’s vision and Africa’s thriving digital sector.
Backing a Bold Digital Vision for Africa
The new financing will supercharge Axian Telecom’s capital investment across its subsidiaries, supporting mobile broadband expansion, fibre rollout, data centre infrastructure, and subsea cable connectivity. Operating across nine African countries—including Madagascar, Tanzania, Senegal, Uganda, DRC, Comoros, and Togo—Axian now serves more than 40 million customers, with revenues growing 2.5x between 2020 and 2023. Its momentum has earned it a place among the Financial Times’ fastest-growing African companies.
Longstanding Partnership for Impact
This bond builds on a successful partnership. EAAIF also co-anchored Axian Telecom’s debut $420 million bond, which facilitated early-stage expansion in several frontier markets.
EAAIF’s strategic focus on telecom infrastructure, including mobile towers and sustainable data centers—has helped bridge connectivity gaps across underserved communities.
“Connectivity is the currency of the future,” said Tidiane Doucoure, director, Emerging Market Alternative Credit at Ninety One. “This bond is more than financing, it’s a catalyst for financial inclusion, entrepreneurship, and regional trade. Africa’s young, digital-native population is ready. Infrastructure must keep up.”
Strengthening Africa’s Debt Capital Markets
Beyond infrastructure, this transaction reinforces Africa’s growing debt capital markets. By enabling telcos to raise long-term capital via bonds, often at more favorable rates than traditional lending, EAAIF is expanding financial tools available to high-growth firms.
To date, the Fund has deployed over $320 million into telecom bonds, catalyzing more than $6.2 billion in total funding.
Hassan Jaber, CEO of Axian Telecom, reflected on the milestone:
“This support from EAAIF and our co-investors affirms the trust in our mission. With this capital, we’ll deepen our impact, scale digital infrastructure, and empower millions across Africa to thrive in a connected future.”
Shaping Africa’s Digital Future
From mobile broadband to climate-aligned data centres, Axian Telecom and EAAIF are laying the digital foundation of tomorrow’s Africa.
With every new tower and fibre mile, they are not just building networks, they are enabling education, innovation, inclusion, and opportunity across a continent on the rise.
