France’s development finance institution Proparco signed a strategic partnership with AXIAN Telecom’s mobile operator Yas and AXIAN Energy to expand digital finance, connectivity and renewable energy infrastructure across Africa, the companies said on Tuesday.
The agreement, signed during the Africa Forward Summit in Nairobi, will support the rollout of mobile money and other digital financial services, alongside investments in telecom networks, data centres and clean energy projects.
Under the memorandum of understanding, Proparco plans to provide up to 300 million euros ($338 million) over the next three years through corporate financing, project finance bonds, equity co-investments and concessional funding to support AXIAN’s expansion.
The partners said the initiative would focus on expanding fixed and mobile networks, particularly in underserved and rural areas, while also boosting local data storage and processing capacity to support African-built digital services, including artificial intelligence applications.
The agreement also targets wider adoption of digital financial products such as mobile money, insurance, microcredit and savings tools to deepen financial inclusion across the continent.
In the energy sector, the companies will collaborate on renewable power projects including solar, wind and hydropower, battery storage systems and telecom energy services aimed at improving the efficiency of digital infrastructure. They also plan to support mini-grids, electricity distribution networks and electric vehicle charging infrastructure.
“This partnership with Yas and AXIAN Energy gives us additional means to scale solutions that already serve tens of millions of Africans, and to reach those who still lack the basics,” said Hassanein Hiridjee, CEO of AXIAN Group.
Françoise Lombard, CEO of Proparco, said the partnership aimed to “accelerate investments in resilient infrastructure that delivers tangible impact for the African people.”
Omar Victor Diop (Senegal)
Most Famous Photo: Images from his series “Project Diaspora” or “Portrait Session,” which re-imagine historical portraits of notable Africans and Black figures in Western art history.
Short Bio: Born in 1980, Omar Victor Diop is a Senegalese photographer known for his vibrant, meticulously staged portraits that blend African aesthetics with contemporary fashion and historical references. His work often reclaims and reinterprets narratives of Black representation, challenging conventional perspectives.
Cosmo
Thuli Madonsela – Former Public Protector, Current Professor of Law, holding a chair in social justice at Stellenbosch University since January 2018. \”Thuli Madonsela is very centred. Her leadership style is non-reactive and very clearly on point. She signals her intention and she holds her presence. This gives her enormous integrity and adds credibility and moral authority to her professional presence,\” says Liz de Wet, course convenor of the Women in Leadership programme at the UCT Graduate School of Business. Thuli Madonsela\’s greatest influence on the business industry is being a voice of integrity and reminding business leaders of the importance of ethical governance and business practises. \”Business is in a position of power and privilege, and business has a voice‚ in the same way that when you become an advocate‚ you have a voice. It also means that you have an obligation to leverage your influence for good‚\” said Madonsela. In 2014, she made Time Magazine\’s list of the 100 most influential people in the world. In 2016, she was named Forbes Africa Person of the Year. In 2017, she won the 3rd Commonwealth Law Conference Rule of Law Award.