Yas raises up to $308 million EBRD loan to expand infrastructure in Kenya, Senegal

Yas, the pan-African telecommunications brand created by AXIAN Telecom, the telecom group led by Malagasy businessman Hassanein Hiridjee, is set to receive a senior loan of up to €270 million ($308 million) from the European Bank for Reconstruction and Development (EBRD) to expand its telecommunications infrastructure in Kenya and Senegal.

The financing will help strengthen Yas’ network capacity in two of its fastest-growing markets. In Senegal, the funding will be used to expand and modernize the company’s 4G and 5G mobile networks, strengthen core infrastructure, and speed up fiber deployment. In Kenya, the proceeds will support the expansion and modernization of fiber infrastructure following Yas’ acquisition of Wananchi Group in 2025.

Funding Yas’ digital future across Africa

The package includes a committed facility of up to €170 million ($194 million) to fund Yas’ capital expenditure program in both countries. It consists of a €100 million ($114 million) EBRD A-loan, a B-loan of up to €50 million ($57 million) that will be syndicated to institutional investors under an A/B loan structure, and a local-currency facility of up to €20 million ($23 million).

An additional uncommitted facility of up to €100 million ($114 million) will be available to finance eligible future acquisitions and capital investments in selected EBRD countries across sub-Saharan Africa. The transaction also marks two firsts for the lender: its first local-currency financing in sub-Saharan Africa and its first A/B loan structure in the region. Amsterdam-based impact private credit investor ILX Fund will participate in the B-loan.

“Nearly one in ten people across Africa still live outside mobile network coverage. Closing that gap has been central to Yas’ growth and is at the heart of this agreement. This is the largest financing our group has ever raised, and it will accelerate our 4G, 5G, and fiber investments in Senegal and Kenya. It also marks the start of an important new partnership for Yas and the EBRD,” Hassan Jaber, group chief executive officer of Yas, said.

Inside Yas’s multi-market African expansion

The financing comes as Yas continues to consolidate its position across Africa’s telecom industry. The brand serves more than 43 million customers in 11 markets across Africa and the Indian Ocean, bringing together several established operators under a single identity, including Telma in Madagascar and Comoros, Free in Senegal, Tigo Tanzania, and Togocom.

The latest financing follows another major step in AXIAN Telecom’s expansion strategy. Earlier this year, the group deepened its technology partnership with Oracle Corp. by rolling out a cloud-based enterprise resource planning (ERP) platform across its African operations.

The new ERP system will integrate finance, procurement, and supply chain functions across Yas and several affiliated businesses, including TowerCo of Africa, MVola, Mixx, STELLARIX, and zuku. The rollout is expected to simplify internal operations, improve efficiency and support the company’s continued expansion across African markets, according to a company statement.