About Axian

About Axian


Because we recognize the huge potential of Madagascar and the Indian Ocean islands, Axian has stepped up by investing for the long term and operating effectively within the infrastructure and services that are vital for the country and region. Energy, telecoms, financial services and real estate — Axian is involved in the sectors that are driving Madagascar’s industrial, economic and social development and its continued growth and prestige.

Sectors that are strategic for the nation’s industrial independence. Sectors that are contributing to social change and better living standards for the Malagasy people and other populations in the Indian Ocean. Sectors that are opening up the region. Sectors that convey the image of a forward-looking and high-performing economy with the potential to attract investors to the region.


Axian is owned by the Hiridjee family, a French family of Indian background, who settled in Madagascar 150 years ago and set up business in the textile industry.
Since the outset, the Hiridjee family has upheld a work ethic and strong values of success, commitment, humility and respect.
Operating as a family-run business, Axian manages all of the investment portfolios held by the Hiridjee family in Madagascar and the Indian Ocean. This includes defining and implementing industrial strategy, overseeing business development and handling day-to-day operational functions. It has four shareholders: Raza Aly Hiridjee, Bashir Hiridjee, Amin Hiridjee and Hassanein Hiridjee.

  • About Axian
  • About Axian
  • About Axian
  • About Axian




Over the years, Axian has developed a group of leading companies in their respective sectors, which today play a pivotal role in the economic and social development of the country and region: Jovenna and EDM in energy; BNI, IORS and MVola in financial services; First Immo in real estate; and Telma, TOM, TRM (La Réunion and Mayotte) and Telco SA (Comoro Islands) in telecoms.

How do we do this? We’ve achieved this by focusing on vital sectors, investing massively and pursuing far-reaching transformations, geared consistently toward meeting the needs and concerns of countries, businesses and citizens.


  • Total revenues of $630m in 2017
  • A leading investor, with $800m invested in operations
  • Over 4,000 employees in the Indian Ocean
  • 1,500 employees trained in 2015
  • 50,000 hours of training delivered
  • A portfolio of high-performing companies
  • No. 1 telecoms provider in the Indian Ocean, with Telma
  • No. 1 petroleum products distributor in Madagascar, with Jovenna
  • First mobile money operator in the Indian Ocean
  • 300,000 sq. m of real estate development


The largest and most populous island in the Indian Ocean, Madagascar has a natural role to play as an engine of regional development.

The Indian Ocean region has huge potential. With average economic growth of around 4%, largely service-driven economies, a strategic position at the crossroads of two continents, 10 international and regional airports, and a young and educated population of over 30 million, the Indian Ocean islands offer a wealth of opportunities.

It’s therefore quite natural that Axian is building its presence in the region.
In addition to Madagascar, with Telma, TOM, Jovenna, EDM, First Immo and BNI, Axian now operates in La Réunion and Mayotte, where we recently acquired Outremer Telecom’s mobile business (Only) and created Télécom Réunion Mayotte (TRM), and in the Comoro Islands, where we’ve been awarded a mobile license and have set up Telco SA.