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The Emerging Africa & Asia Infrastructure Fund (EAAIF), a key arm of the Private Infrastructure Development Group (PIDG) and managed by Ninety One, has reinforced its commitment to Africa’s digital future by anchoring Axian Telecom’s $600 million bond issuance. The initiative is set to accelerate digital infrastructure development across the continent.
As a principal investor, EAAIF committed $40 million to a collective $160 million anchor investment, joined by development finance institutions including the International Finance Corporation (IFC), British International Investment (BII), DEG, and Proparco.
The five-year bond, which attracted over $1.3 billion in investor interest and closed with a 2x oversubscription, highlights growing market confidence in Axian Telecom’s expansion strategy and the broader digital economy in Africa.
Driving Pan-African Digital Growth
The capital raised will fuel Axian Telecom’s investment across its African operations, supporting mobile broadband networks, fibre-optic expansion, data centre development, and subsea cable connectivity. Operating in nine countries—such as Madagascar, Uganda, Tanzania, Senegal, and the Democratic Republic of Congo—Axian serves more than 40 million customers and has seen its revenues grow 2.5 times between 2020 and 2023. The company has also been recognized among the Financial Times’ fastest-growing African firms.
Deepening Strategic Partnerships
This bond follows EAAIF’s co-anchoring of Axian Telecom’s earlier $420 million bond, which helped initiate infrastructure rollout in frontier markets. EAAIF continues to prioritise investments in telecommunications infrastructure that promote sustainable growth and close connectivity gaps in underserved regions.
“Connectivity is the currency of the future,” stated Tidiane Doucoure, Director of Emerging Market Alternative Credit at Ninety One. “This financing goes beyond infrastructure—it drives financial inclusion, entrepreneurship, and intra-African trade. With Africa’s youthful, tech-savvy population, the need for resilient digital infrastructure has never been greater.”
Advancing Capital Market Development
In addition to infrastructure, the transaction underscores efforts to deepen Africa’s debt capital markets. By enabling telecom operators to secure long-term funding through bond issuance—often on more favourable terms than conventional loans—EAAIF is helping high-growth companies diversify their financing options.
EAAIF has now invested more than $320 million in telecom-related bonds, unlocking over $6.2 billion in total funding for the sector.
A Connected Future for Africa
Hassan Jaber, CEO of Axian Telecom, emphasized the significance of the partnership:
“The backing from EAAIF and our co-investors demonstrates trust in our mission. With this funding, we will strengthen our digital infrastructure and expand our impact—bringing millions of Africans closer to opportunity.”
As Africa’s digital transformation gathers pace, Axian Telecom and EAAIF are laying the groundwork for inclusive economic growth through next-generation connectivity, sustainable data centres, and expanded broadband access—building the digital backbone of tomorrow’s Africa.
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