AXIAN Group has obtained a Decentralized Digital Financial Institution licence from the Central Bank of Comoros, clearing the way for the launch of a fully digital, regulated lender aimed at expanding access to formal financial services across the island nation.
The licence allows the Madagascar based conglomerate, owned by billionaire Hassanein Hiridjee, to establish a branchless digital financial institution offering nano loans and micro loans via mobile phones. The new entity will operate under full prudential supervision, separate from the group’s existing mobile money operations.
AXIAN, founded in 2015, already runs MVola, one of the leading mobile money platforms in the archipelago. The new digital lender will complement that footprint by introducing regulated credit products, marking a significant step in the group’s broader Digibank and Fintech strategy focused on building scalable, interoperable and secure digital financial systems across Africa.
The institution will begin operations with mobile based nano loans and micro loans offering near instant credit assessments and disbursements. According to the company, the products are designed to address everyday financing needs, including working capital for small businesses, school fees, healthcare expenses and support for informal traders.
Operating entirely without physical branches, the lender will gradually roll out additional digital financial services in line with regulatory requirements and customer demand. By leveraging MVola’s existing reach, AXIAN intends to serve customers in remote areas, including islands such as Anjouan, where limited bank infrastructure and difficult inter island travel have historically restricted access to formal banking.
For Comoros, a country made up of multiple islands with fragmented financial infrastructure, digital models are increasingly seen as central to boosting financial inclusion. Traditional banking penetration has remained low for decades due to sparse branch networks and logistical challenges. While mobile money services such as MVola, Holo Money and Huri Money have expanded access to payments, access to regulated credit products has lagged behind.
The Central Bank views the development of supervised digital lending institutions as a critical component of modernising the financial system and reaching its target of 75 percent financial inclusion by 2030. By licensing a decentralised digital financial institution, authorities aim to close gaps in access to formal credit while maintaining oversight and financial stability.
Erwan Gelebart, chief executive of AXIAN’s Digibank and Fintech cluster, described the approval as a decisive step both for the company and for the country’s financial ecosystem. He said the licence strengthens AXIAN’s fintech activities and enhances the impact of its platforms by enabling regulated financial services to complement existing mobile money capabilities.
The group also sees Comoros as a pilot market for scaling digital first lending models to other African countries where it operates, including Madagascar, Senegal, Togo and Tanzania. If successful, the approach could serve as a template for delivering secure, low cost credit to underserved populations in markets facing similar infrastructure and inclusion challenges.
Digital credit has increasingly emerged as a tool for broadening financial inclusion across Africa, particularly in economies where informal employment dominates and access to traditional collateral based lending is limited. However, regulators have also moved cautiously to ensure consumer protection, data privacy and responsible lending practices.
By placing the new institution under direct regulatory supervision, AXIAN and Comorian authorities are seeking to balance innovation with prudence. The success of the initiative will likely depend on maintaining strong risk management standards while building trust among consumers who may be unfamiliar with fully digital lending products.
With the new licence secured, AXIAN is positioning itself at the forefront of digital finance innovation in the Indian Ocean region, aiming to connect remote communities to formal financial services through mobile technology while supporting the country’s broader inclusion goals.
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