EBRD Commits €270 Million to Expand Yas’ Digital Infrastructure Across Africa
The European Bank for Reconstruction and Development (EBRD) has approved a financing package of up to €270 million for Yas, the pan-African telecommunications operator owned by AXIAN Telecom, to accelerate the expansion of mobile and fibre broadband infrastructure across Africa. The investment is expected to improve digital connectivity, strengthen telecom competition, and support broader digital transformation efforts in key African markets.
The transaction represents a major milestone for the EBRD. It is the Bank’s first investment in Senegal and one of its most significant commitments in sub-Saharan Africa. The financing combines long-term funding, local-currency lending, and private sector investment to help bridge Africa’s digital infrastructure gap.
Financing to Support Network Expansion
The funding package includes a committed facility of up to €170 million, which will finance Yas’ ongoing capital investment programmes in Senegal and Kenya.
The committed financing consists of:
• A €100 million EBRD A-loan
• A B-loan of up to €50 million, which will be syndicated to institutional investors through the EBRD’s A/B loan programme
• A local-currency facility equivalent to €20 million in Kenyan shillings
The Kenyan shilling facility is particularly significant as it represents the EBRD’s first local-currency financing transaction in sub-Saharan Africa. The project also marks the Bank’s first A/B loan arrangement in the region.
Impact investment firm ILX Fund, based in Amsterdam, will participate by investing in a substantial portion of the syndicated B-loan.
Beyond the committed financing, the package includes an additional uncommitted facility of up to €100 million, which Yas can access to finance future acquisitions and eligible capital investments in other EBRD countries across sub-Saharan Africa.
Boosting Digital Infrastructure in Senegal and Kenya
A significant portion of the investment will be directed toward improving digital infrastructure in Senegal and Kenya.
In Senegal, the financing will enable Yas to expand and modernise its 4G and 5G mobile networks, strengthen core telecommunications infrastructure, and accelerate the rollout of fibre connectivity to improve broadband access.
In Kenya, the funds will support the enhancement of fibre infrastructure following Yas’ acquisition of Wananchi in 2025. The investment is expected to improve broadband performance, network reliability, and service quality while increasing internet availability across the country.
According to the EBRD, strengthening telecommunications infrastructure in both markets will increase competition among service providers while giving consumers access to faster, more affordable digital services.
Supporting Inclusive Digital Growth
Beyond infrastructure development, Yas has also committed to advancing diversity and inclusion within its workforce.
The company plans to increase female representation across its technical and leadership teams while introducing initiatives aimed at improving women’s participation in Africa’s digital economy through targeted skills development and employment opportunities.
These commitments align with broader efforts to ensure that digital transformation creates economic opportunities for underserved communities.
Leaders Highlight Strategic Importance
EBRD President Odile Renaud-Basso described the financing as a major step toward expanding digital connectivity and attracting additional private investment into Africa’s telecommunications sector.
She noted that the project demonstrates the Bank’s commitment to supporting resilient digital infrastructure while mobilising institutional capital for sustainable development.
Yas Group Chief Executive Officer Hassan Jaber said the financing represents the largest funding package ever secured by the company.
He explained that the investment will significantly accelerate Yas’ rollout of 4G, 5G and fibre infrastructure while helping connect millions of people who still lack reliable mobile and internet services across Africa.
Meanwhile, ILX Fund Chief Investment Officer Kirstine Damkjaer said the investment reflects growing confidence in Africa’s digital economy, describing telecommunications infrastructure as a critical driver of financial inclusion, job creation and long-term economic growth.
Strengthening Africa’s Digital Future
Yas currently operates in 11 African and Indian Ocean markets, offering mobile, fixed broadband, fintech and digital infrastructure services, including telecom towers, backbone networks and data centres.
The EBRD noted that Senegal and Kenya officially became shareholder countries and countries of operation in 2025, allowing the Bank to support projects that promote private sector growth, infrastructure development and economic diversification.
The latest financing is expected to strengthen Africa’s digital infrastructure, improve internet accessibility and support the continent’s rapidly expanding digital economy.
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Frequently Asked Questions (FAQs)
1. How much financing is the EBRD providing to Yas?
The EBRD is providing up to €270 million to support Yas’ digital infrastructure expansion across Africa.
2. Which countries will benefit from the investment?
The initial financing will primarily support network expansion in Senegal and Kenya, with additional funding available for future projects in other eligible African countries.
3. What will the funding be used for?
The investment will finance:
• Expansion of 4G and 5G mobile networks
• Fibre broadband rollout
• Core telecommunications infrastructure upgrades
• Future acquisitions and network investments
4. Why is this investment significant?
It marks:
• The EBRD’s first investment in Senegal
• The Bank’s first local-currency financing in sub-Saharan Africa
• The first EBRD A/B syndicated loan in the region
5. Who owns Yas?
Yas is a pan-African telecommunications company owned by AXIAN Telecom.
6. What benefits will consumers see?
Customers are expected to benefit from:
• Faster internet speeds
• Expanded 4G and 5G coverage
• Improved fibre broadband services
• More reliable mobile connectivity
• Greater competition among telecom providers
7. What role does ILX Fund play in the project?
ILX Fund will invest in the syndicated B-loan portion of the financing, helping mobilise additional private capital for Africa’s digital infrastructure.
8. How does the project support digital inclusion?
Besides expanding connectivity, Yas has committed to increasing female participation in its workforce and supporting digital skills programmes that promote broader inclusion in Africa’s digital economy.
9. How many markets does Yas operate in?
Yas currently operates in 11 countries across Africa and the Indian Ocean region.
10. Why is digital infrastructure important for Africa?
Modern telecommunications infrastructure supports economic growth by improving internet access, enabling digital services, promoting financial inclusion, supporting businesses, creating jobs and expanding access to education and healthcare through digital technologies.
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