A consortium composed of Madagascar-based conglomerate Axian Group and pan-African private equity fund manager Emerging Capital Partners (ECP) has acquired a 51 percent stake in Togo-based government-owned telecommunications company Togocom at an enterprise value of XOF210 billion (approximately USD355 million). The consortium will reportedly invest EUR245 million (USD271 million) in Togocom over seven years to improve the company’s international connectivity and expand its high-speed fiber and mobile networks.