Agou Holding Consortium becomes majority stakeholder of TogoCom Consortium

Friday, 08 November 2019 13:44
Agou Holding Consortium becomes majority stakeholder of TogoCom Consortium

(Togo First) - The Agou Holding Consortium will take 51% of TogoCom, the public holding which owns Togocel and Togo Telecom. 

The pan-African consortium, regrouping Axian Group and Emerging Capital Partner (ECP) should spend more than XOF100 billion for the stake. 

In effect, Agou Holding plans to invest XOF160 billion (about €250 million) in connectivity infrastructures, the deployment of fiber optics and 5G, among others, over the next seven years. 

"This is a major milestone," that aligns with the ambition of the Togolese government, according to Cina Lawson, minister of the digital economy, posts and technological innovations. "This important investment will drive the country's transformation and sustain our economic growth," declared, the minister of economy and finance, Sani Yaya, last Wednesday. 

Active in the Indian Ocean where it is the largest telecom operator, Axian was recently part of the consortium behind the switch from Tigo to Free in Senegal. 

ECP for its part was already present in Togo through Oragroup (Lomé-based banking group) and Eranove which currently builds Lomé's second power plant. 

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