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AXIAN Energy, the energy division of the pan-African conglomerate AXIAN Group, led by Malagasy multimillionaire businessman Hassanein Hiridjee, has successfully secured a $30-million senior secured debt facility from The Emerging Africa Infrastructure Fund (EAIF) — a company under the Private Infrastructure Development Group (PIDG).
The $30-million financing is a strategic move in line with the group’s expansion plan. Led by Hiridjee, the conglomerate aims to deliver more than 460 Megawatt (MW) of utility-scale renewable energy generation capacity across Africa in the next decade.
EAIF’s commitment strengthens AXIAN Energy’s green vision
The commitment from EAIF reinforces AXIAN Energy’s vision to diversify its green energy portfolio. The funds will be utilized to acquire, develop, and execute greenfield utility-scale solar projects in various African nations. These nations include Senegal, Madagascar, Mozambique, Tanzania, São Tomé & Principe, Cabo Verde, Gabon, Rwanda, and beyond.
EAIF’s support to AXIAN Energy is anticipated to catalyze the successful development and financing of greenfield renewable projects. This partnership is poised to increase clean power adoption for businesses and households, fostering employment opportunities and significantly enhancing livelihoods across the continent.
Commenting on the investment, Benjamin Memmi, CEO at AXIAN Energy, emphasized the pivotal role of this facility in the company’s journey toward sustainable development and energy inclusion across Africa. Memmi highlighted the infusion of EAIF funds as a propellant for their transition to renewable energy and underscored the commitment to delivering clean and accessible power to communities throughout the continent.
AXIAN Group’s pan-African impact under Hassanein Hiridjee
Headquartered in Madagascar, AXIAN Group operates in real estate, telecommunications, finance, and energy sectors across six countries in the Indian Ocean and the African continent.
Under Hassanein Hiridjee, the group has become Madagascar’s leading energy producer. With a commitment to socio-economic progress, AXIAN Group aims to bring clean and affordable energy to households and businesses in Madagascar through its renewable energy division.
