Axian Telecom is incorporated in Mauritius in 2004 and is 100% owned by Mr. Hassanein Hiridjee.

The proposed IFC investment comprises a bond subscription in an amount up to $60 million and IFC is an anchor investor for the US$420 million total Bond Issuance.

The Company is headquartered in Mauritius and the bond proceeds will be used to (i) fund the Company’s proposed acquisition of a mobile network operator (MNO)  Tanzania, including refinancing the MNO’s debt, and (ii) refinance an acquisition loan in Togo, which will facilitate the Company’s ability to raise debt financing to fund expansion. The financing will also support the Company’s further expansion of its digital infrastructure network to provide more coverage across Sub-Saharan Africa.

  This is a Category B project in accordance with IFC’s Policy on Environmental and Social Sustainability. The proposed investment is expected to have limited environmental and social impacts, which are expected to be short-term and site-specific. Those impacts can be avoided or mitigated by adhering to recognized performance standards, procedures, guidelines and design criteria as described in the following sections.

The key E&S issues associated with this investment include i) adequacy of Axian’s environmental and social management system to cover the entire scope of E&S risks in the operations, including operating company’s (OPCO) operations; ii) adequacy of risk screening and assessment procedures to identify E&S risks related to new tower sites as well as existing assets during acquisitions; iii) assurance of fair, safe and healthy working conditions for employees and contractors, including, grievance management, security, health and safety, harassment and gender-based violence; iv) contractor and third party environment, health and safety (EHS) management, monitoring compliance assurance; v) community health and safety; vi) implementation of PS 5-aligned land acquisition and compensation process in tower acquisition and operation; vii) adequate risk identification and management at tower sites within areas of biodiversity value; and viii) enhanced and coordinated engagement with key stakeholders including local communities.