Lomé, Togo, January 15, 2024 — The International Finance Corporation (IFC) has just announced its partnership with the Togolese operator, TOGOCOM, a subsidiary of AXIAN Telecom. The partnership will accelerate access to quality very high-speed mobile and fixed connectivity for millions of subscribers, individuals and businesses, and support Togo’s digital transformation.
This loan of 55 million euros to TOGOCOM, set up thanks to the participations of Société Générale Bénin acting for its branch Société Générale Togo and Ecobank Togo, aims to support the modernization of the company’s infrastructures, the acceleration of the deployment of its 4G network, the extension of its fiber network and the strengthening of its resilience, thanks to the improvement of connection quality and speed.
Togocom is part of AXIAN Telecom, a pan-African telecommunications service provider operating in eight countries through its subsidiaries in Madagascar, Comoros, Réunion and Mayotte, Senegal, Togo, Uganda, DRC and Tanzania , and serving approximately 38 million customers.
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IFC’s investment will help Togocom expand its 4G coverage and fiber optic network, supporting the Togolese government’s digital transformation strategy. The country’s digital transformation strategy aims to achieve 95% mobile and fixed internet coverage of the population by 2025, to connect 100% of public administrations as well as 95% of hospitals and schools.
“At TOGOCOM, we are very proud of the essential role we play in promoting the country’s digital transformation and strengthening connectivity for all Togolese citizens, wherever they are in the territory. This investment demonstrates our commitment to constantly supporting economic development and the digitalization of services in Togo,” declared Pierre-Antoine Legagneur, General Director of TOGOCOM.
“The partnership with the IFC marks a decisive step, not only to improve access to equipment and high-speed internet, but also to generate economic opportunities for our populations. Beyond its economic impact, digital tools have the potential to improve the daily lives of our fellow citizens, facilitating access to education, health care and targeted social assistance. Togo’s commitment to digital innovation, reinforced by this partnership, demonstrates our determination to build a progressive and technologically advanced nation for future generations.” Cina Lawson, Minister of Digital Economy and Digital Transformation of Togo.
“Providing reliable mobile connectivity is essential to bridging the digital divide in Togo. IFC’s investment in TOGOCOM demonstrates our commitment to supporting Togo’s efforts to advance its digital transformation strategy, in order to foster growth, social inclusion and job creation,” said Olivier Buyoya, IFC Regional Director for West Africa.
IFC’s investment in Togocom is part of its broader infrastructure strategy. IFC provides long-term financing and leading advisory expertise to develop infrastructure projects that provide essential services. In fiscal year 2023, IFC invested $1.76 billion to support digital infrastructure and help connect people in Africa.
About IFC
The International Finance Corporation (IFC), a member of the World Bank Group, is the world‘s largest development assistance institution focused on the private sector in emerging markets. It has operations in more than 100 countries, devoting its capital, skills and influence to creating markets and opportunities in developing countries. In fiscal 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, mobilizing private sector capacity to end poverty. extreme poverty and promote shared prosperity in economies grappling with the impacts of concurrent global crises. To learn more, visit www.ifc.org
About TOGOCOM
A pioneer of 5G technology in Togo and the sub-region, TOGOCOM is the country’s leading telecommunications operator. Result of the merger of TOGO TELECOM and TOGOCEL, TOGOCOM aims to become the champion of quality of service to the highest international standards. The story of TOGOCOM is that of an operator who grew up alongside all Togolese people. From the provision of the first communication services, to fiber, to mobile financial services via mobile, TOGOCOM has always aimed to support everyone in a world of constant technological evolution.
TOGOCOM is part of AXIAN Telecom, a pan-African telecommunications service provider operating in eight countries through its subsidiaries in Madagascar, Comoros, Reunion and Mayotte, Senegal, Togo, Uganda, DRC and Tanzania and serving approximately 38 million customers. For more information, visit www.axian-telecom.com
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