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
The announced reforms are pivotal in expanding affordable connectivity, building a future-ready digital workforce, and establishing Ghana as a frontrunner...
When fully operational, SEA-ME-WE-6 is expected to significantly improve internet connectivity and resilience across participating regions, enhance data...
As cybersecurity asserts itself as a pillar of digital sovereignty in West Africa, technology-free zones are taking on a strategic role in safeguarding...
As a new generation of African creators increasingly works to assert narratives rooted in their own cultures, the expansion strategies of global...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
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

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

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.