Hassanein Hiridjee's Axian Telecom Raises 600 Million To Expand Connectivity In Africa

AXIAN Telecom secured 600 million via oversubscribed bonds to refinance debt and expand digital infrastructure across Africa.

The bond, priced at 7.25, drew strong global demand, signaling faith in AXIANs leadership and Africas rising digital economy.

AXIAN now serves over 42.9 million mobile users and invests in Jumia and broadband projects to deepen its pan-African digital footprint.

AXIAN Telecom, the pan-African telecom group led by Malagasy businessman Hassanein Hiridjee, has raised 600 million on international bond markets, an effort aimed at strengthening the companys financial footing and reflecting renewed investor interest in Africas digital infrastructure sector.

The senior bond, arranged by JP Morgan, Standard Bank, and Standard Chartered, matures in 2030 and was nearly three times oversubscribed. It was priced at a 7.25 percent coupon with a final yield of 7.375 percent, lower than initial estimates. The strong demand points to growing confidence in well-run African companies, even amid global economic uncertainty.

The proceeds will be used to refinance existing debt and support general corporate needs, including expanding AXIAN Telecoms digital infrastructure across the continent. This is part of the companys broader goal to improve digital access and connectivity in the regions it operates.

This bond issuance reflects the strength of our diversified business model and the trust investors have in our long-term plans, said CEO Hassan Jaber. It gives us the momentum to do more, connecting more people and helping communities participate in the digital economy.

Based in Mauritius, AXIAN Telecom now serves more than 42.9 million mobile subscribers and 15.2 million users of mobile financial services, making it the sixth-largest mobile operator in Africa. Under Hiridjees leadership, revenue climbed from 1.08 billion to 1.4 billion last year, driven by rising demand for 4G and 5G services.