MILLICOM INTERNATIONAL CELLULAR S.A TO SELL ITS ENTIRE TANZANIA OPERATIONS TO AXIAN CONSORTIUM

Dar es Salaam 19th April 2021 – Millicom International Cellular S.A. (“Millicom”) the parent company of MIC Tanzania PLC (Tigo) and Zanzibar Telecom PLC (Zantel) announces that Millicom has signed an agreement for the sale of its entire operations in Tanzania (Tigo and Zantel) to a consortium led by Axian Group, a company based in Antananarivo, Madagascar.

The sale of the Tanzania business is in line with Millicom’s strategy to focus on providing fixed and mobile services in Latin America after investing in the development of the telecommunications industry in Africa for more than 25 years.

The Axian Group-led alliance brings together distinguished experts in mobile communications who have created and developed industry leading brands in the Indian Ocean, Africa and Europe. Axian Telecom is the Group’s telecom arm, with leading operations in Madagascar, Reunion and Mayotte islands, the Comoros, Senegal and Togo.

Millicom is pleased to have found a strategic investor such as Axian who is committed to furthering MIC Tanzania PLC’s and Zantel’s long-term commitment to provide accessible, affordable and innovative services to the people of the United Republic of Tanzania.

In furtherance of these commitments, Axian plans to:

• Invest significantly in the telecom infrastructure to improve competitiveness, operations and accelerate transformation of the digital economy.
• Extend access to affordable mobile services and accelerate digitalization throughout the United Republic of Tanzania
• Improve financial inclusion through affordable and innovative mobile financial services.
• Encourage employees’ professional growth and training in support of these initiatives

We would like to assure our stakeholders and the general public that, until we get the required regulatory approvals, our business operations remain the same and we will continue to serve our customers with the best products and services.

Launched in 1995, Millicom’s Tigo brand through its commitment to invest in Tanzania's digital transformation, became the first cellular network in Tanzania to operate a GSM and 3G network. In April 2014, it launched 4G in the capital Dar es Salaam and by the end of 2016, its 4G network coverage reached all regions in Tanzania.

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2020, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 55 million customers, with a cable footprint of more than 12 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

About Axian

Axian is a pan-African group that operates in 5 industries with high growth potential, namely real estate, telecoms, finance, energy and open innovation. Axian operates in 6 countries across mainland Africa and the Indian Ocean and acts in furtherance of social and economic growth in all markets where the group has a foothold.

The group’s 5,000 dedicated employees ensure that its brands—all of which dedicated to 5 crucial industries—have a sustainable, positive impact on the day-to-day lives of millions of Africans.

The Axian Group is also a UN Global Compact signatory and is committed to making its ten principles an integral part of present and future group operations.