EAAIF Anchors Axian Telecom’s $600m Bond Issuance To Drive Africa’s Digital Progress

The Rising Africa & Asia Infrastructure Fund (EAAIF), a Non-public Infrastructure Growth Group (PIDG) firm managed by Ninety One, has anchored Axian Telecom’s $600 million bond issuance to drive Africa digital progress.

EAAIF invested $40 million as a part of a $160 million anchor funding alongside the Worldwide Finance Company (IFC), British Worldwide Funding (BII), DEG, and Proparco.

The transaction’s orderbook noticed a ultimate 200 per cent oversubscription, attracting over $1.3 billion in demand, underscoring robust investor confidence in Axian Telecom’s progress trajectory and Africa’s vibrant digital sector.

EAAIF’s funding will assist, amongst different key initiatives, Axian Telecom’s capital expenditure throughout its subsidiaries, driving {economic} progress and offering improved digital infrastructure to tens of millions of individuals.

The CEO of Axian Telecom, Hassan Jaber stated, “we’re honoured by the belief positioned in us by EAAIF and our fellow anchor traders. Their assist for this bond issuance is a powerful vote of confidence in our long-term imaginative and prescient and the impression of our work.

“This financing allows us to scale progressive digital infrastructure throughout our markets and to carry transformative connectivity to tens of millions, fostering inclusive progress and strengthening AXIAN Telecom’s function in advancing Africa’s digital future.”

Director, Rising Market Various Credit score, Ninety One, the Fund Supervisor of EAAIF, Tidiane Doucoure stated, “the event of African capital markets is and can stay a precedence for PIDG and Ninety One. Increasing entry to digital companies unlocks new {economic} alternatives, and higher {financial} inclusion, that are essential drivers for intra-African commerce and entrepreneurial progress. This oversubscribed transaction underscores the immense potential of African companies and the rising confidence of world traders within the area’s digital future and champions like Axian Telecom.”

The Rising Africa & Asia Infrastructure Fund is a blended finance car that raises and deploys private and non-private debt capital to transformative infrastructure tasks throughout Africa, the Levant and South and Southeast Asia. EAAIF supplies varied debt merchandise on industrial phrases to infrastructure tasks primarily owned, actively managed, and operated by the perfect in non-public sector experience.