European Investment Bank Grants $60M to Yas Mobile Operator for 4G and 5G Expansion in Tanzania

The European Investment Bank (EIB Global) has announced a $100 million financing package for AXIAN Telecom to expand its mobile broadband network infrastructure in Tanzania and Madagascar.

This initiative is part of the European Union’s Global Gateway strategy, which aims to promote sustainable development and digital inclusion.

AXIAN Telecom, Africa’s sixth-largest operator, serves over 44 million subscribers across nine Sub-Saharan African countries, including Tanzania and Madagascar, where it operates under the Yas brand.

The project will address geographic disparities in telecom access, improve high-speed connectivity, and foster socio-economic growth in the two nations.

Of the $100 million investment, $60 million will be allocated to Tanzania, while $40 million will benefit Madagascar.

The funds will be used to double 4G coverage in both countries and expand 5G infrastructure, enabling millions of people to access high-speed internet and digital services.

AXIAN Telecom CEO Hassan Jaber expressed his enthusiasm for the project, stating, “The $100 million EIB Global financing will help us expand mobile phone infrastructure in Madagascar and Tanzania and benefit millions of people. This new large-scale network investment will pave the way for socio-economic growth, digital inclusion, and better opportunities.”

EIB Vice-President Ambroise Fayolle highlighted the importance of digital connectivity, saying, “Digital connectivity opens doors for education, business, healthcare, and social inclusion. This new investment demonstrates the EIB’s commitment to empowering communities, fostering sustainable development, and driving positive change through enhanced access to affordable high-speed communications.”

For her part, EU Ambassador to Tanzania Christine Grau highlighted the partnership’s alignment with Tanzania’s digital transformation agenda, noting, “This EIB Global investment in AXIAN Telecom is a concrete example of our commitment to invest in digital connectivity.”

EIB Global, the international arm of the European Investment Bank, has been a key financier of telecom and digitalization projects in Africa. By collaborating with local stakeholders, telecom operators, and government agencies, the institution aims to create a comprehensive and inclusive digital ecosystem across the continent.

This investment aligns with the United Nations Sustainable Development Goals (SDGs) by promoting inclusive and sustainable economic growth, creating quality jobs, and fostering innovation.

It also supports the EU’s Digital4Development (D4D) initiative and the Global Gateway strategy, which aims to mobilize €150 billion for Africa’s digital and green transition by 2030.