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.”
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