Hassanein Hiridjee signs $351M deal for Africa infrastructure push

Axian Group, the pan-African investment conglomerate controlled by Malagasy businessman Hassanein Hiridjee, has entered a €300 million ($351.28 million) investment partnership with Proparco to scale Africa’s digital and energy infrastructure.

The initiative, announced at the Africa Forward Summit in Nairobi, focuses on broadband expansion, renewable energy systems, and data center development to address persistent connectivity and power shortages across the continent.

Broadband, energy infrastructure expansion prioritized

The partnership, bringing together Proparco, Yas (owned by AXIAN Telecom) and AXIAN Energy, will focus on expanding fixed and mobile broadband networks to improve internet access and narrow Africa’s digital affordability gap. It will also direct investments into data centers to strengthen local data storage, cloud computing capacity and artificial intelligence capabilities.

In the energy sector, the companies plan to support renewable power projects, including solar, wind and hydropower, alongside battery storage systems and electricity distribution infrastructure. The agreement also includes investment in telecom energy service companies (T-ESCOs), mini-grid systems for rural electrification, and electric mobility infrastructure.

Financial inclusion and startup funding included

Proparco intends to mobilize up to €300 million over the next three years to support AXIAN’s digital and energy expansion projects. Funding will include corporate financing, project finance, bond subscriptions, equity co-investments and concessional financing structures. The partnership builds on existing collaborations between Proparco, AXIAN Telecom’s Yas and AXIAN Energy in 2025 and 2026.

Beyond infrastructure, the agreement extends to digital financial services, including mobile money, microcredit, insurance and savings products.

The partners also plan to support startups and innovative businesses, improving access to financing and strengthening Africa’s entrepreneurship ecosystem.

Why Africa infrastructure investment matters

Africa remains one of the least connected regions globally, with limited broadband penetration and unreliable electricity supply constraining economic productivity. AXIAN Group CEO Hassanein Hiridjee highlighted that the partnership will scale solutions already serving millions while expanding access to underserved populations.

Growing demand for digital services, data centers and AI-driven platforms is increasing pressure on infrastructure systems, particularly energy networks. This partnership reflects broader investment trends led by development finance institutions and private investors targeting Africa’s infrastructure financing gap.

Hiridjee’s Axian: Expanding digital footprint in Africa
For Axian, the deal fits into Hiridjee’s wider push to build Africa’s digital infrastructure. Based in Mauritius, Axian Telecom serves more than 42.9 million mobile subscribers and 15.2 million mobile money users in about 17 African markets directly and indirectly.

With demand for broadband, renewable energy and digital services expected to surge, infrastructure investment will remain a key driver of Africa’s economic growth.

The Proparco-AXIAN partnership positions both groups at the forefront of efforts to expand connectivity, energy access and financial inclusion across the continent.