EIB to Help Expansion of Broadband Telecom Network in Tanzania and Madagascar

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Of the total financing, USD 60 million will benefit Tanzania, and USD 40 million will benefit Madagascar.  Axian Telecom operates under the Yas brand in both countries.

The European Investment Bank (EIB Global) has unveiled a USD 100 million financing package for Axian Telecom to expand mobile broadband infrastructure in Tanzania and Madagascar. The project will expand 4G mobile broadband network infrastructure across the two countries as well as continue the introduction of 5G coverage.

Of the total financing, US$60 million will benefit Tanzania, and US$40 million will benefit Madagascar.  Axian Telecom operates under the Yas brand in both countries. This new Global Gateway investment, backed by a budgetary guarantee of the European Commission, will enhance access to high-speed communications, accelerate inclusive digitalisation, and drive sustainable development across the two countries.

This investment will help reduce geographic inequality of telecom access in Africa and emerging markets. The European Union Ambassadors to Madagascar and Tanzania have expressed their support for the EIB’s investment and its significant impact on the countries’ development.

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EU Ambassador to Madagascar and the Union of the Comoros Roland Kobia stated that “This commitment from the EU through the EIB further demonstrates, in difficult times, our desire to contribute to the sustainable development of Madagascar through private investments in the formal sector and thereby generate growth and open up opportunities for all.