The AXIAN Group, a pan-African conglomerate, has obtained a banking licence from the Central Bank of the Comoros to establish a new, fully digital financial institution in the island nation. The licence, granted on March 3, 2026, allows AXIAN to launch its digital banking platform, which will offer services including savings accounts, loans, and money transfers, according to a company statement. The group plans to commence operations later this year, marking a strategic expansion of its financial services footprint into the Comoros.
AXIAN, headquartered in Madagascar, operates across telecommunications, real estate, energy, and financial services in over ten African countries. Its financial services arm, AXIAN Finance, already manages a portfolio that includes banking, insurance, and fintech ventures in markets such as Madagascar, Tanzania, and the Democratic Republic of Congo. The move into Comoros represents a deliberate step into a smaller, underserved market where digital financial inclusion remains a significant opportunity.
The Comoros, an archipelago of three main islands with a population of approximately 900,000, presents a specific set of challenges and potential for digital finance. While mobile money services have gained traction in parts of Africa, the Comorian financial landscape is characterised by low banking penetration and a reliance on cash. The Central Bank of the Comoros has been seeking to modernise the financial sector and improve inclusion, creating a regulatory opening for innovative models like AXIAN’s proposed digital-only bank.
‘This licence is a testament to our commitment to financial inclusion and our confidence in the potential of the Comorian market,’ said Hassanein Hiridjee, CEO of the AXIAN Group. The company stated that its digital bank will leverage technology to provide accessible and affordable financial products, aiming to reach segments of the population that traditional banks have struggled to serve. The model is expected to rely heavily on mobile interfaces, reducing the need for physical branch infrastructure.
AXIAN’s entry comes as several African fintechs and telecom operators explore digital banking licences across the continent, moving beyond payment services into core banking. This trend is evident in markets from Nigeria to South Africa, where regulators have begun issuing licences for digital banks. In East Africa, similar models have been pioneered by companies like Tala and KCB Group’s KCB M-Pesa, blending credit scoring with mobile platforms.
The success of AXIAN’s venture will likely depend on factors including network coverage, customer adoption of digital channels, and the competitive response from existing financial institutions and mobile money operators in Comoros. The group’s experience in adjacent markets and its multi-sector presence may provide operational advantages. The development is viewed as a positive signal for investment in Comoros’s digital economy, potentially encouraging further innovation in the country’s financial sector.