Telecom

Tanzania: Axian Consortium announces $500mln investment in Tigo and Zantel

Tanzania: Axian Consortium announces $500mln investment in Tigo and Zantel
Thursday, 29 April 2021 15:22

Axian Consortium plans to invest $500 million in the Tanzanian telecom market over the next five years. The decision follows the signing last April 19 of an agreement with Millicom International Cellular (MIC) for the acquisition of its subsidiaries Tigo Tanzania and Zanzibar Telecom (Zantel).

The investment will help expand the two subsidiaries’ coverage across the country, with a particular focus on 4G technology.

“Axian is starting a new chapter in Tanzania, and Zanzibar in the long term. We are convinced that Axian’s model will accelerate digital inclusion and open up access to innovative services for populations while supporting economic growth,” said Axian CEO Hassanein Hiridjee.

Axian's move comes timely for Tigo Tanzania and Zantel, which like other telecom companies in the country are experiencing an increase in demand for broadband connectivity. The need is no longer just in the cities but is also growing in rural areas. The two companies, which had a combined market share of 27% by 2020, according to the Tanzania Communications Regulatory Authority (TCRA), have an opportunity to grow.

Through the strengthening of Tigo Tanzania and Zantel's telecom infrastructures, Hassanein Hiridjee says he wants to accelerate people's access to affordable mobile services and contribute to digitalization throughout the country. The businessman also sees this action as a way to improve people's access to mobile financial services and accelerate financial inclusion in the country.

Muriel Edjo

On the same topic
Tunisia has digitized about 3.6 million documents out of 5.2 million archive boxes. Authorities identify audiovisual archives as a priority due to...
15 Nigerian states scrap telecom right-of-way charges to boost fiber rollout Policy linked to faster expansion and improved network quality 21 states...
Libya NOC explores private-sector partnerships in refining and downstream sectors Talks target capacity expansion, gas use optimization, and reduced...
Burkina Faso engages Italian investors to advance digital transformation plans Talks focus on drones, data systems, and public-private...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
03

Ecobank Transnational Incorporated asked shareholders to vote on a $500 million Tier 2 Eurobond...

Ecobank Calls Vote on a New $500 Million Bond, With Eyes on a June 2026 Capital Cliff
04

Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...

“Private Investors Are Not Philanthropists: Risk Must Be Shared” — Tarek Toko Chabi, BOAD
05

Funding part of $250 million raise to boost investor confidence Fintech expands services, pr...

Nigeria Approves $75 Million Investment in Flutterwave Ahead of NGX Listing
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.