The Malagasy group Axian has secured $60 million to further its expansion across Africa. This financing, contracted with the Mauritius Commercial Bank (MCB), will be primarily used to scale up major projects on the continent.
“Building Africa’s energy future.” This was the announcement made by the Axian group last week following the signing of a $60 million facility with the Mauritius Commercial Bank (MCB). The agreement includes a $40 million revolving credit line over three years, complemented by $20 million in non-disbursed financial instruments, according to the company. “This structure provides Axian Energy with the financial flexibility to rapidly mobilize the resources needed to seize development opportunities identified in its markets.”
For the firm, the primary goal is to accelerate its development in Africa. Benjamin Memmi, CEO of Axian Energy, confirms: “This transaction marks a key milestone in Axian Energy’s growth trajectory. It gives us the means to continue the acceleration initiated two years ago, by consolidating our renewable energy portfolio and strengthening our presence in new African markets.” Analysts also view this funding as an example of successful cooperation between African enterprises.
The agreement extends a long-standing partnership between Axian and MCB, two pan-African institutions driven by a shared ambition to support infrastructure development and economic growth across the continent. Over the past two years, the energy subsidiary of the Axian group has grown significantly, expanding its renewable portfolio in countries including Senegal, Benin, Zambia, Ivory Coast, and Madagascar. The company reports a portfolio of 350 MW of installed renewable capacity, supported by 77 MWh of storage capacity.
This positions the group as a major contributor to the continent’s energy transition. Axian aims to produce 2 gigawatts of renewable energy by 2030. According to Agence Ecofin, this financing comes amid sustained expansion, following the acquisition of an 85.6% stake in the Bangweulu Solar PV plant in Zambia in October 2024, and a $1 million grant from the Norwegian agency Norad to support projects in Zambia, Madagascar, Mozambique, and Sierra Leone.
Captured & Published at: 2026-06-27 06:00:23 (Madagascar Local Time EAT)
Original Source: https://www.lexpress.mg/2026/06/financement-axian-poursuit-son.html
