- November 7, 2019
- Posted by: Myles Freedman
- Category: More Africa News
TogoCom changes control. The Agou Holding Consortium was selected to take a majority stake of 51% in TogoCom, the public holding company holding the two incumbent operators, Togocel and Togo Telecom, the Togo First website tells us.
Grouping Axian Group and Emerging Capital Partner (ECP), the Pan-African consortium should pay more than 100 billion FCFA for the operation.
In its development plan, Agou Holding plans to invest nearly 245 million euros (160 billion FCFA) over the next 7 years, in connectivity infrastructure, deployment of fiber optics and 5G, among others.
“This major operation marks a milestone , “ in line with the Togolese government’s visions, said Cina Lawson, Minister of Digital Economy, Posts and Technological Innovation. “This significant investment will catalyze the transformation of the country and support the growth of our economy,” said Sani Yaya, Minister of Economy and Finance, who marked his presence, the official ceremony organized to present the agreement, which took place this Wednesday 06 November.
Present in the Indian Ocean where he claims to be the leading telecom operator, Axian has recently participated in the consortium that has passed Tigo to Free, Senegal.
As for ECP, it is the story of a presence that is growing stronger in Togo. The Pan-African Investment Fund holds Oragroup headquartered in Lomé, and Eranove, which builds the second power plant in Lomé.