New Entrant Plans Tanzania’s Biggest Telecom Spending Since 2014
- Axian-led consortium acquired Millicom’s Tanzanian operations
- Group seeks more investment opportunities in region, CEO says
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Axian Group Ltd. plans to invest $500 million in Tanzania following the purchase of telecommunication assets in the East African country and is seeking more deals to further expand in the region.
A consortium led by the Antananarivo, Madagascar-based conglomerate announced April 19 the purchase of Millicom International Cellular’s Tanzanian operations. Acquiring Tigo Tanzania and Zanzibar Telecom means Axian now controls one of the largest telecommunication operations in the country.