Madagascar's Axian has successfully completed its acquisition of additional shares in Senegal's Free. Initially announced on July 24th, this transaction will result in Axian increasing its ownership in Free from 40% to 80%. Free Senegal, boasting 5.36 million subscribers as of July 2023, holds a substantial 25% market share, solidifying its position as the second-largest operator in the market.
In April 2018, Free Senegal was acquired from Millicom by the Saga Africa Holdings consortium, which includes investment firm NJJ Group led by Xavier Niel, Teyliom Group, and Axian Group via Axian Telecom.
Mamadou Mbengue, CEO of Free Senegal, emphasized the significance of this transaction, highlighting Free Senegal's pivotal role in reshaping Senegal's telecommunications landscape. He expressed confidence in their joint ability to advance the digital transformation agenda, with a focus on deploying cutting-edge technologies for an improved experience for both individuals and businesses.
Axian Telecom has a presence in various African markets, such as Comoros, Madagascar, Mayotte, Reunion, Senegal, Tanzania, and Togo. Additionally, it holds telecom-related business interests in Cote d'Ivoire and Uganda. Furthermore, discussions are underway with MTN regarding the potential acquisition of their operations in Guinea, Guinea-Bissau, and Liberia, further illustrating Axian's expanding footprint in the African telecom sector.