London, July 21, 2025 – The Emerging Africa & Asia Infrastructure Fund (EAAIF), a fund of the Private Infrastructure Development Group (PIDG) managed by Ninety One, announced a $40 million investment in Axian Telecom’s five-year $600 million bond issuance. This contribution is part of a $160 million anchor investment made alongside the International Finance Corporation (IFC), British International Investment (BII), DEG (Germany), and Proparco (France).
The issuance attracted strong interest from investors, with demand exceeding $1.3 billion, resulting in an oversubscription rate of 2. This financing is intended to support Axian Telecom’s investments in its subsidiaries operating in Madagascar, Senegal, Tanzania, Togo, Uganda, the Democratic Republic of Congo, and the Comoros.
Axian Telecom CEO Hassan Jaber praised the support of key investors, calling it a “vote of confidence in the company’s long-term vision.” He stated that the funds will help strengthen digital infrastructure in the served markets, with a direct impact on millions of people.
Tidiane Doucouré, Director of Alternative Credit for Emerging Markets at Ninety One, emphasized that this transaction “illustrates the potential of African companies and the growing interest of international investors in the continent’s digital sector.”
EAAIF had previously co-invested in a $420 million bond issuance by Axian Telecom in 2022, aimed at supporting the operator’s expansion into “frontier” markets.
With this new operation, EAAIF reaffirms its role in the development of African bond markets, especially in telecommunications. Since its inception, the fund has allocated over $320 million to bonds issued by companies in the sector, helping mobilize over $6.2 billion in total.
