Axian Telecom rises after Oracle deal, ranks among Africa’s fastest-growing firms

Just weeks after signing a major technology partnership with Oracle Corporation, the $500 billion U.S. software giant, pan-African telecom operator Axian Telecom has secured another milestone under the leadership of Malagasy businessman Hassanein Hiridjee.

The company climbed to No. 63 on the 2026 edition of the Financial Times ranking of Africa’s Fastest-Growing Companies, improving from No. 74 a year earlier. The annual ranking, compiled with Statista, tracks compound annual revenue growth between 2021 and 2024 while applying benchmarks tied to revenue scale, independence, and organic expansion.

Axian Telecom strengthens regional connectivity

For Axian Telecom, the latest rise reflects a period of steady expansion across several African markets at a time when telecom operators are racing to strengthen digital infrastructure and widen access to financial and mobile services. “In a list where many businesses appear only once, this rise reflects the consistency of our growth story and the strength of our pan-African strategy,” the company said in a statement following the release of the ranking.

The group also credited employees, customers, and business partners across the continent for supporting its recent growth. Axian said it remains focused on expanding digital access, improving connectivity, and building a business capable of delivering long-term returns to investors while supporting local communities.

Digital infrastructure investment accelerates growth

Founded by Hiridjee, Axian Telecom has grown into one of the continent’s largest telecommunications operators, with operations spanning Tanzania, Madagascar, Togo, Uganda, the Democratic Republic of Congo, Senegal, Réunion, Mayotte, and the Comoros. The company serves 36 million customers and is now ranked as Africa’s seventh-largest mobile operator.

Its expansion has been driven by acquisitions, network upgrades, and investment in mobile money, fiber, and digital infrastructure businesses. That broader footprint has translated into stronger financial results. For the 2025 financial year, Axian Telecom reported revenue of $1.69 billion, up from $1.4 billion a year earlier.

Profit after tax rose sharply to $226.3 million from $114.08 million in 2024, supported by stronger operating performance across key markets. The company also reported growth in total assets, which increased to $2.88 billion by the end of 2025 from $2.45 billion a year earlier.

Shareholders’ equity climbed to $385.8 million from $301.6 million, while retained earnings rose to $180.12 million from $130.04 million, underscoring how the company’s expansion across Africa is beginning to translate into stronger balance-sheet performance.

Oracle partnership drives telecom upgrade

The latest Financial Times recognition comes shortly after Axian Telecom deepened its technology push through a strategic partnership with Oracle. The agreement is designed to modernize operations across the group and support future expansion as competition intensifies among African telecom providers.

Under the deal, Axian Telecom will roll out a group-wide enterprise resource planning system powered by Oracle’s cloud technology across Yas and other businesses within its portfolio, including TowerCo of Africa, STELLARIX, zuku, MVola, and Mixx. The phased rollout is expected to begin in Tanzania later this year before expanding to other markets.