EAAIF anchors Axian Telecom’s $600 million bond
The Emerging Africa & Asia Infrastructure Fund invested $40 million.
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The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, today announced its anchor investment in Axian Telecom's $600 million five-year bond issuance.
EAAIF invested $40 million as part of a $160 million anchor investment alongside the International Finance Corporation, British International Investment, DEG, and Proparco. The transaction’s orderbook saw a final 2x oversubscription, attracting over $1.3 billion in demand.
Operating across Madagascar, Senegal, Tanzania, Togo, Uganda, Democratic Republic of the Congo , and Comoros, Axian serves over 40 million mobile customers with digital infrastructure, including mobile broadband networks, fibre optic cables, towers, subsea cables, and data centres.
The transaction deepens EAAIF’s partnership with Axian Telecom, having previously acted as co-anchor for its maiden $420 million bond issuance, which supported the company’s expansion in frontier economies across the region, including Tanzania, Madagascar, and Togo.
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 for emerging market alternative credit at Ninety One, 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.”
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