CDC Group, the UK’s development finance institution, announced on February 14, 2022 its base commitment of USD 30 million as part of Axian Telecom’s inaugural 5-year USD 420 million public bond issue to support the extension of its network in Africa.
“Affordable mobile and data services are a vital component of any economy and investments in underdeveloped telecommunications markets are therefore central to CDC’s strategy in Africa. Our engagement in this bond financing supports the raising of private capital from institutions less familiar with Axian Telecom’s markets,” said Richard Palmer, head of corporate debt at CDC.
According to a note published on the same date, the granting of new financing will allow Axian Telecom to expand its footprint by increasing access to affordable mobile and data services by improving digital access and thus continuing its strategy of growth. inclusion in the telecommunications value chain for customers, extending access to rural areas and low-income people.
Note that Axian Telecom is a fast-growing telecommunications services and infrastructure provider in Madagascar, Togo, Tanzania, Senegal, Comoros, Mayotte, Reunion and Uganda.
