A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...

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A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
IMPACT REPORT 2020

A DRIVER OF
POSITIVE,
SUSTAINABLE
IMPACT
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
CEOS' ADDRESS         4                                OUR UN GLOBAL
                                                                      COMPACT
               WHO WE ARE            6                                COMMITMENTS            78

               Our Clusters          8                                Our Commitments        80

               Our Goal              10                               SDGs and the Global
                                                                      Compact                82
               Vision                12
                                                                      Human Rights           83
               Key Figures           14
                                                                      International Standards
               Our Team              15                               for Labour Rights       84

                                                                      The Environment        86

                                                                      Anti-corruption        88

                                          MEASURING OUR
                                          IMPACT                30

                                          Axian's Impact
                                          Scoring System        32

                                          Our Socio-
                                          economic Impact       40
    TABLE OF
                                          Our Environmental
    CONTENT                               Impact                55

                                          OUR FLAGSHIP
                                          PROJECTS IN 2020      58

                                          Our COVID-19 Impact   60
               IMPACT FOR AXIAN     16
                                          Our Flagship Projects—
               The “Less Bad/
                                          By Cluster             70
               More Good” Model     22
                                                                      THE AXIAN
                                          Axian University      76    FOUNDATION             90
               OUR PRIORITIES       24

               Talent                                                 Our areas of
               & Entrepreneurship   26                                intervention           92

               Environment          27                                Our Means
                                                                      of Intervention        97
               Communities
               & Inclusion          28
                                                                      CSR Programs           99
               Innovation
               & Investments        29                                Review of operations
                                                                      for 2020               110

                                                                      CONCLUSION             112
2                                                                                                  3
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
CEOS 'A D D R ES S

                                          The AXIAN Group is especially proud to submit its first annual   AXIAN is an ambassador of the UN Global Compact in
                                          COP report in accordance with its reporting obligations as a     Madagascar by virtue of our group's decision to join the
                                          UN Global Compact signatory.                                     Global Compact Local Network for the Indian Ocean. We
                                                                                                           are committed to pushing and helping companies in their
                                          AXIAN's decision to join the UNGC in 2020 was not neither        adoption of the Ten Principles of the UN Global Compact. We
                                          impulsive nor half-hearted—the global health crisis that we      are proud to bear this responsibility, and to invite both our
                                          were plunged into over a year ago has changed peoples'           public and private-sector partners to join us in answering
                                          lives, our business model, aggravated existing social issues,    the call to address the world's climate and social crises.
                                          and more. This crisis also highlights the urgency with which
                                          the world must strive to achieve the UN's 17 Sustainable         We believe wholeheartedly in our continent's value and its
                                          Development Goals (SDGs) by 2030. We only have 10 years          capacity to become a model new thinking that transcends
                                          to overcome significant global challenges, like preventing       profitability, and instead focuses on giving future
                                          pandemics, fighting climate change, preserving biodiversity,     generations a better world and a cleaner planet. Our Africa
                                          inequalities within society, gender equality, combating          wants everything that is best for its people, and we must
                                          hunger or protecting human rights.                               act now to give furtherance to this wish.

                                          As Africa faces these high-stakes socio-economic                 This report is intended to present and summarise the AXIAN
                                          challenges, we are making possible a new paradigm that           group's undertakings during the year 2020 to advance the
                                          integrates innovation, sustainable means of production,          Four Pillars of its CSR and Sustainability agenda.
                                          energy consumption and socio-economic growth.

                                          At AXIAN, positive impact lies at the heart of our group's
                                          strategies. We act on the belief that as a private-sector,       AMIN ET HASSANEIN HIRIDJEE
                                          African group, we have a duty to drive digital, energy and       AXIAN GROUP CEO'S
                                          financial inclusion for all—and as a large business operator
                                          in the region, we play a crucial role in this part, as well as
                                          other parts, of Africa's socio-economic growth. We also have
                                          the crucial ability to innovate with initiatives that are more
                                          inclusive and more environmentally-friendly.

      “We believe wholeheartedly in
        our continent's value and its
         capacity to become a model
       new thinking that transcends
    profitability, and instead focuses
    on giving future generations a
                    better world and a
                       cleaner planet.”

4                                                                                                                                                                     5
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
WHO WE ARE
    8    OUR MODEL

    13   OUR CLUSTERS

    14   KEY FIGURES

    15   OUR TEAMS

6                       7
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
A X I A N                                                           O U R   MO D E L

W H O     W E   A R E

A first-rate investor
serving inclusive growth
                                                                       Our model relies                   Our model                         Our model
across Africa                                                          on creating a                      requires cross-                   capitalizes
                                                                       positive impact                    cluster synergies                 on innovation
                                                                       and shared value                   across our                        and digital

                                          +5,000
                                                                                                          expertises
Born in
Madagascar                                staff across the Indian      We design, create and deploy       Thanks to the overlaps            To become an African
                                                                       our products, services and         between our subsidiaries          gamechanger, we respond to
                                          Ocean and Africa:            infrastructures in a way that
                                                                       allows them to best respond
                                                                                                          in the energy, real-estate,
                                                                                                          innovation & fintech, finance
                                                                                                                                            a multidimensional need: to
                                                                                                                                            continuously adapt our products

AXIAN is a diversified group that
                                          we are an effective          to needs and wants across our
                                                                       markets. We are reinventing our
                                                                                                          and telecoms, we strive to
                                                                                                          anticipate challenges, innovate
                                                                                                                                            and services, our environment,
                                                                                                                                            our business, and consumption
operates in 5 key sectors with high       partner in developing        value chain and our choice of
                                                                       partners to support economic
                                                                                                          and create solutions that are
                                                                                                          adapted to specific markets
                                                                                                                                            trends of our communities. We
                                                                                                                                            enable transformative change
growth potential                          countries' economic          and social progress.               and communities.                  across our area of operations to
                                                                                                                                            bring the latest innovation and
                                          growth                       We are also acting in
                                                                       support of the creation of an
                                                                                                          By pooling our knowledge,
                                                                                                          experience, resources and our
                                                                                                                                            cutting-edge technology
                                                                                                                                            to market.
                                                                       entrepreneurial, learning-based    people, we are able to create
                                                                       culture among our people to        cross-cluster projects within
                                                                       promote trainings and the          our group. As a result, our
REAL ESTATE
 IMMOBILIER
                TELECOMS
                TÉLÉCOMS
                              FINANCIAL
                              SERVICES
                              SERVICES
                                          4 bold values :              learning of new skills among our   operations are both effective

                                          Daring
                                                                       employers.                         and efficient, and allow us to
                             FINANCIERS                                                                   leverage new opportunities
                                                                                                          while bringing solutions that

                                          Passion                                                         are adapted to peoples' ever-
                                                                                                          changing needs and uses.

                                          Innovation
    ENERGY
    ÉNERGIE
                INNOVATION
                INNOVATION
                 & FINTECH
                                          Commitment

8                                                                                                                                                                              9
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
A U N I T E D G R O U P   S E R V I N G
O U R C O N T I N E N T

Today, AXIAN operates, both directly
and indirectly, in 28 countries                                        MOROCCO

across Africa and the Indian Ocean.

Our goal:

To create a positive,
sustainable impact on as                  SENEGAL
                                                                                                                            CHAD

many people as possible by
                                                                                  BURKINA
                                                                                   FASO
                                                       GUINEA

enabling digital, energy and                        SIERRA                IVORY

financial inclusion through
                                                    LEONE                 COAST
                                                                                  GHANA
                                                             LIBERIA
                                                                                                            CAMEROON

our achievements and                                                                        TOGO
                                                                                                   EQUATORIAL

commitments.
                                                                                                                                                             UGANDA
                                                                                                     GUINEA
                                                                                                                                                                             KENYA

                                                                                                                GABON
                                                                                                                                                       RWANDA
                                                                                                                                   DR CONGO

                                                                                                                                                                  TANZANIA

                                                                                                                                                                                      COMOROS

                                                                                                                                                                                            MAYOTTE

                                                                                                                                              ZAMBIA

                                                                                                                                                                                                        MAURITIUS
                                                                                                                                                                    MOZAMBIQUE
                                                                                                                                                       ZIMBABWE

                                                                                                                        NAMIBIA
                                                                                                                                     BOTSWANA
                                                                                                                                                                                                      REUNION
                                                             INDIRECT INVESTMENTS                                                                                                    MADAGASCAR

                                                             DIRECT INVESTMENTS

10                                                                                                                                                                                                                  11
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
A X I A N

                                                  O U R   C LU S T E R S

                                   HOLDING

     A vision
     Our continent wants         CLUSTERS              FINANCE      TELECOMS      ENERGY       REAL ESTATE   OPEN INNOVATION
                                                                                                                & FINTECH

     the best for its future
     generations.              S IG N AT U R ES      LET’S ACCESS
                                                       FINANCE
                                                                      LET’S
                                                                    CONNECT
                                                                                    LET’S
                                                                                RENEW ENERGY
                                                                                                  LET’S
                                                                                                  BUILD
                                                                                                                  LET’S
                                                                                                                 CREATE

                                    B R A N DS

     A mission
     To enable digital,
     energy and financial
     inclusion for all by
     creating a positive
     impact in industries                                                  au

     with high growth
     potential.

12                                                                                                                        13
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
O U R   K E Y   F I G U R E S                                     O U R      T E A M

1,1 Billion
                                                                  Our Sustainability management team is made up of experts and designs our CSR strategy across
                                          First-rate investor     all industries, both at the subsidiary level and via our investments, with strategic input from the
                                          with over               Sustainability Committee.

USD
Turnover in 2019                          1 Billion               A X I A N       G R O U P       C E O ' S

                                          USD invested
                                          across all operations
5,000                                                                 AMIN HIRIDJEE
                                                                   CHIEF EXECUTIVE OFFICER
                                                                                              HASSANEIN HIRIDJEE
                                                                                              CHIEF EXECUTIVE OFFICER

employees across
the Indian Ocean
and Africa                                                        E X E C U T I V E          C OM M I T T E E

                                                                   PHILIPPE PRODHOMME        VÉRONIQUE PERDIGON           JEAN-DENIS BOUDOT         MICHAEL RATOVOSON          BENJAMIN MEMMI

1st                        1st               No1
                                                                   CHIEF FINANCIAL OFFICER     GENERAL SECRETARY        GROUP CHIEF COMMUNICATION   CHIEF HUMAN RESOURCES         ENERGY CLUSTER
                                                                                                                                 OFFICER                    OFFICER           CHIEF EXECUTIVE OFFICER

Service-                   Mobile-money      in the Indian
stations                   operator in       Ocean's
network in                 the Indian        telecoms
Madagascar                 Ocean             industry                STÉPHANE OUDIN          HASSANE MUHIEDDINE             MATTHIEU MACÉ              PATRICK PISAL          DOMINIQUE ANDREAS
                                                                      TELECOM CLUSTER           FINANCE CLUSTER                 INNOVATION &        CHIEF EXECUTIVE OFFICER     DIRECTOR OF PUBLIC
                                                                   CHIEF EXECUTIVE OFFICER   CHIEF EXECUTIVE OFFICER          FINTECH CLUSTER         TELMA MADAGASCAR /      AFFAIRS & INSTITUTIONAL
                                                                                                                          CHIEF EXECUTIVE OFFICER    TELCO DIRECTOR / TELCO       RELATIONSHIPS
                                                                                                                                                    DIRECTOR INDIAN OCEAN,
                                                                                                                                                        REUNION ISLAND &
                                                                                                                                                            MAYOTTE

14                                                                                                                                                                                                15
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
POSITIVE IMPACT
     FOR AXIAN
     18   KEY FIGURES AND OUR GOAL

     21   OUR IMPACT-CENTRIC GOVERNANCE

     22   SCORING OF OUR IMPACT PROJECTS

16                                         17
A DRIVER OF POSITIVE, SUSTAINABLE IMPACT - AXIAN ...
K E Y   F I G U R E S   I N   2 02 0

                                            10,000m2                  16,000
                                                 dedicated to
                                                                     people connected to
                                                                                                              15 Millions
                                            entrepreneurship and                                             people have access to mobile
                                                 innovation        solar electricity thanks to               connectivity across Africa and
                                                                           WeLight in                             the Indian Ocean

                                                                            25
           OUR POSITIVE                                                villages bringing

              IMPACT                        13,600km                        9H                   The AXIAN Group is a
            IN FIGURES                                                                              UNGC
                                                of Fibre Optic      of electricity per day
                                               installed across           on average
                                                    Africa
                                                                                                      signatory

                  171,800                                             42,000                          US$ 530M
                  jobs reliant on AXIAN                                hours of training                  of total service value
               operations and investments                              delivered in 2020                   produced, or 4% of
                     in Madagascar .                                                                       Madagascar's GDP

                  1.2% of working-age
                      population*

                                                   1  st                 Creation of an
                                                                                                                52
                                             operator to develop
                                                5G in Africa
                                                                       impact                               JOB MULTIPLIER
                                                                                                   for every employee, AXIAN indirectly
                                                                       Management team
                                                                                                        supports another 51 jobs in
                                                                           in 2019
                                                                                                               Madagascar

18                                                                                                                                            19
O U R   G OA L S                                                                                         O U R    I M PA C T- C E N T R I C          G O V E R N A N C E

                   We want our Africa to be fair and inclusive
                   We act everyday to give our businesses more purposes. Beyond our business
                   impact, we also want to create social and environmental benefits that benefit
                   peoples' day-to-day lives. This way, our purpose will make sense to Africa's people
                   and communities.

                   Concrete, positive impact at the heart
                   of our strategy
                   Positive Impact is the driving force behind our initiatives :

                   • W
                      e systematically seek to ensure that our actions in sectors with high growth                           The Impact        Ensure that our actions are sustainable and meaningful is now
                     potential generate positive outcomes.                                                              Management Team         Axian's mission and responsibility.
                                                                                                                               created in

                                                                                                                               2019,
                      e seek to understand, optimise and consolidate the positive impact that our
                   • W                                                                                                                          AXIAN's Impact Management team is tasked with measuring,
                     operations generate, and find ways to make this impact sustainable and long-                                               evaluating and reinforcing our subsidiaries and our managers'
                     lasting.                                                                                                                   positive impact. This is done by way of a proprietary Impact Scoring
                                                                                                                                                methodology that was created internally. In 2020, we created an
                      e want to be environmentally-conscientious, and we want each and every
                   • W                                                                                                                          Environmental & Social Department, as well as a HSE department.
                     one of us to work towards an innovative and long-lasting future impact.
                                                                                                                                                Each of our subsidiaries has nominated an Impact ambassador to
                      e help improve quality of life via strategic choices that favour affordable,
                   • W                                                                                                                          ensure that actions, achievements and commitments are properly
                     accessible, safe and reliable products and services.                                                                       communicated, as well as guarantee formal points of contacts
                                                                                                                                                between all companies for cross-functional and interdisciplinary
                                                                                                                                                projects.

                   Shared benefits across communities                                                                FANILO RAKOTOVAO -         VISION
                                                                                                                 Impact Director, Axian Group
                                                                                                                                                At AXIAN, “to be good and do good” has become a mantra. It not
                   Today, we are committed to tomorrow, more people being connected to                                                          only guides our business decisions, but also dictates the social and
                   their loved ones and the world, have access to secure financial services and                                                 environmental commitments we undertake.
                   clean, reliable energy.
                                                                                                                                                We remain keenly aware that the growth and sustainability of
                   By growing together, we are helping reveal our continent's full potential.                                                   our operations is only possible if we create a positive impact and
                                                                                                                                                mitigate negative impacts, whatever the venture. That is what we
                                                                                                                                                call “positive impact.”

                                                                                                                                                Our group is now more committed than ever to achieving this
                                                                                                                                                goal. We also strive to prove the sincerity of our engagements with
                                                                                                                                                actions that concretise and embody the spirit of positive impact.
                                                                                                                                                This is one of the main drivers behind our track record of acting to
                                                                                                                                                better peoples' day-to-day lives as well as their future.

20                                                                                                                                                                                                                     21
R A N K I N G S A N D D E F I N I T I O N S              G LO S S A R Y        F O R      O U R
I M PA C T P R OJ E C T S

     NATURE OF THE IMPACT                    LESS BAD                                                                                MORE GOOD

                                         DO THINGS WELL                                                                           DO GOOD THINGS

     NATURE OF THE ACTION                 COMPLIANCE                                     BUSINESS                              PATRONAGE                                                CSR

                            Activities to comply with national and       Activities that are founded on a         When a company chooses to donate,             The voluntary or legally-requisite consideration of
                            international standards and regulations on   business model, existing demand, a       charitably and without seeking any returns,   environmental, social, economic and ethical aspects
               DEFINITION   social, health and environmental aspects     long-term clientele, a viable concept    to a project of public interest.              of its operations' internal and external effects.
                            of our operations.                           and a competitive advantage.

                            Meeting requirements                         Long-term profitability                  Stakeholder wellbeing                         Improving the brand's standing

                                                                                                                                                                Investing in company and cluster-level projects that
                                                                         Driving sustainable growth in the
                            Avoiding penalties                                                                    Improving brand reputation                    support the UN's SDG (Sustainable Development Goal)
                                                                         group's area of operations
                                                                                                                                                                agenda

                                                                         Empower the group's assets: expertise,
              OBJECTIVES    Reduce costs of failure to comply                                                     Improve the company's environment             Meeting societal, and sometimes legal needs
                                                                         logistics and network

                            Increasing system and network efficiency                                                                                            Mitigating negative impacts

                            Bolstering professionalism                                                                                                          Responding the UN's Global Compact

22                                                                                                                                                                                                                     23
OUR STRATEGY
     26   TALENT & ENTREPRENEURSHIP

     27   ENVIRONMENT

     28   COMMUNITIES & INCLUSION

     29   INNOVATION & INVESTMENTS

24                                    25
OU R      STRATE GY

As we defined our impact strategy, we identified 4 high-priority axes of impact for the group and its subsidiaries.

                                Talent & Entrepreneurship                                                                                                      Environment

                                            To improve the day-to-day                                                 Aligning our business and CSR        CONTRIBUTION TO THE FIGHT
                                            lives of our current and future                                           strategies with the global fight     AGAINST CLIMATE CHANGE:
                                            employees while working towards                                           against climate change is also one
                                            their wellbeing is one of AXIAN's                                         of AXIAN's strategic priorities. A   • CARBON FOOTPRINT STUDY
                                            foremost priorities. We support the                                       year ago, we began measuring
                                                                                                                                                              AND REPORT AS PER SCOPE 3
                                            skill acquisition and professional        •L
                                                                                        OCAL JOB CREATION            our greenhouse-gas emissions in
                                            learning of our employees so                                              an effort to be transparent about
                                                                                                                                                              RESULTS
                                            that they can find personal and
                                            professional fulfilment within
                                                                                       + 10%/YEAR                     our environmental impact and
                                                                                                                                                           •R
                                                                                                                                                             EDUCED CO2 EMISSIONS BY
                                                                                                                      maximise our efforts to reduce
                                            their work. We also work towards
                                            developing a salutary and                  50%
                                                                                      •
                                                                                                                      them. We are implementing
                                                                                                                      impact-centric solutions to
                                                                                                                                                            10% : PRIMARILY
                                            empowering work culture that               WOMEN AMONG STAFF, OF          become a renewable-energy             ELECTRICITY CONSUMPTION
        SDG                                 encourages entrepreneurship and            WHICH 25% IN MANAGERIAL        champion within our area of           REDUCED BY MANAGING
                                            initiative.                                POSITIONS BY 2022              operation and invest actively in      WORKPLACE WASTE, RECYCLING
                                                                                                                      growing local carbon sinks.           ELECTRONIC WASTE AND USING
                                                                                                                                                            LESS ENERGY-INTENSIVE
                                                                                       50%
                                                                                      •                                                                    SERVERS.
                                                                                                                                                                                               SDG
                                                                                       OF ALL STAFF TRAINED
                                                                                       PER YEAR                                                            •B
                                                                                                                                                             E A LEADER OF THE
                                                                                                                                                            REGIONAL ENERGY
                                                                                       100%
                                                                                      •
                                                                                                                                                            TRANSITION:
                                                                                                                                                            IN POWER PRODUCTION (50%
                                                                                       SOCIAL PROTECTIONS                                                   OF PLANTS) AND USAGE (50%
                                                                                       FOR STAFF AND PARTNERS/                                              OF OFFICE AND BUSINESS
                                                                                       SERVICE PROVIDERS                                                    CONSUMPTION).

                                                                                       100%
                                                                                      •                                                                   • INVEST IN LOCAL CARBON
                                                                                                                                                              SINKS VIA COMPENSATION
                                                                                       SIGNATURE RATE OF SUPPLIER
                                                                                       ETHICAL CODE (INCLUDING                                                BASED ON OUR EMISSIONS AS
                                                                                       UNGC'S 10 SDGS)                                                        PER SCOPE 3.

                                                                                                                                                           • REFORESTATION INITIATIVES AND
                                                                                                                                                               INVESTING IN CONSERVATION OF
                                                                                                                                                               PROTECTED AREAS.

26                                                                                                                                                                                                   27
OU R   STRATE GY

                   Communities & Inclusion                                                                            Innovation & Investments

                                                                                       To become a gamechanger on the       •	TO DOUBLE BENEFICIARIES
                       To promote inclusive economic
                                                                                       continent, we are championing           FROM MOBILE-MONEY
                       growth by working towards                SDG
                                                                                       a multifaceted transformation:          SERVICES
                       universal access to electricity,
                                                                                       that of our products and services,
                       financial services and digital
                                                                                       our group, our environment and
                       technology. Energy, financial and                                                                      COMMERCIAL 5G
                                                                                                                            •	
                                                                                       shifting trends and needs across
                       digital inclusion allow everyone
                                                                                       Africa. We are steering these
                                                                                                                              DEPLOYMENT IN
                       to participate in socio-economic                                                                       MADAGASCAR AND TOGO
                                                                                       transformations within our area
                       development in all countries
                                                                                       of operation so that we can both
                                                                                                                                13,600 Km
                       within our area of operation, and
                                                                                       drive and contribute to how
                       further validate our commitment
                                                                                       sectors with high growth potential
                                                                                                                            •
                       to inclusive growth. To AXIAN,                                                                           OF FIBER-OPTIC CABLE
                                                                                       will emerge from developing
                       there is only one way to grow:
                                                                                       economies.
                       to advance while leaving no one                                                                      •	DIRECT PARTICIPATION
                       behind.                                                                                                 IN LEADING REGIONAL
                                                                                          SDG                                  AND INTERNATIONAL
                                                           INCLUSION IN 2030
                                                                                                                               SUBMARINE-CABLE
                                                                                                                               PROJECTS
                                                           •   6 MILLIONS
                                                               MOBILE-MONEY USERS IN                                        •	TO SUBSCRIBE TO
                                                               MADAGASCAR                                                      IMPACTFUL, RESPONSIBLE
                                                                                                                               INVESTMENT FUNDS
                                                           • DOUBLE OUR NUMBER OF
                                                               MOBILE INTERNET USERS                                        •	EACH OF OUR SUBSIDIARIES
                                                                                                                               WILL SET A BUDGET
                                                           •D
                                                             OUBLE OUR RURAL ENERGY                                           FOR SUSTAINABLE
                                                            COVERAGE AREA                                                      INFORMATION (IN LINE
                                                                                                                               WITH SDG'S)
                                                           •T
                                                             O DEVELOP NEW
                                                            PRODUCTS AND SERVICES IN
                                                            HEALTHCARE AND EDUCATION
                                                            (PRIORITY SDGS
                                                            FOR MADAGASCAR)

28                                                                                                                                                        29
MEASURING OUR
     POSITIVE IMPACT
     32   AXIAN'S IMPACT SCORING

     36   OUR SOCIO-ECONOMIC IMPACT (UTOPIES STUDIES)

     55   OUR ENVIRONMENTAL IMPACT (UTOPIES STUDIES)

30                                                      31
ME A SU RING                O U R     I M PAC T

AXIAN's Impact Score
Today, measuring the scope of our impact is indispensable to fulfilling our group-                    M E A S U R I N G O U R P R O G R E S S V I A O U R Y E A R LY S C O R E C A R D
level vision. We need to understand the impact that our activities have on our
surroundings. This will allow us to spread this impact mindset both within the                        Our impact survey has motivated our internal stakeholders to deploy several actions that limit their business's
group and outside of it. Our impact score was conceived internally and working in                     negative impact but also increase their positive impact on society, the environment and the economy.
tandem with international experts. It contains four areas, all of which also comprise
the Four Pillars of our impact strategy (see below).                                                  In 2020, out of 13 subsidiaries that were tracked and surveyed, most attained or surpassed their Impact
                                                                                                      objectives.

                                                                                                      2020 IMPACT SCORE RESULTS

                                1.                                                      2.                 94%
                                                                                                                                          FULFILLED VS OBJECTIVES
                                                                                                                                          FOR 13 SUBSIDIARIES
                                                                                                                                          S U R V E Y E D (5 2020
                           TALENT                                                       COMMUNITY                                                                                                       163 P O I N T S > 2 84 P O I N T S
                       TALENT &                                                         COMMUNITIES
               ENTREPRENEURSHIP                                                         & INCLUSION

                                                                                                       Y E A R - O V E R -Y E A R I M PAC T S C O R E P E R S T R AT E G I C P I L L A R
                                                      SCORING
                                                      L‘INDEX
                                                       IMPACT
                                                                                                                                                                                     ENVIRONMENT

                                                       AXIAN
                                                        AXIAN
                                                                                                                                                                       130                 9pt                   54pt                        +500%

                                                                                                                                                                                     COMMUNITIES
                              3.                                                        4.                                        57                54
                                                                                                                                                                       118                                47pt          64pt                 +36%

                         PLANET                                                         INNOVATION             8
                                                                                                                                  67                64                 118           INFRASTRUCTURE
                    ENVIRONMENT                                                         INVESTMENTS            47                 77
                                                                                                                                                                                                         43pt                  78pt          +81%
                                                                                                                                                    78
                                                                                                               43                                                      152
                                                                                                               64                 102               88                               TALENT
                                                                                                                                                                                                                        64pt          88pt   +38%
                                                                                                       2019             2020                2020            NOTE MAX
                                                                                                                     OBJECTIVES

                                                                                                           TALENT       INFRASTRUCTURE      COMMUNITIES     ENVIRONMENT                          2019       2020

32                                                                                                                                                                                                                                              33
2 0 20   I M PA C T   S C O R E    R E S U LT S

                                                                                                                                              OPEN INNOVATION
                                                         FINANCE                          ENERGY                           TELECOMS                               REAL ESTATE    
                                                                                                                                                 & FINTECH

                                                                                                                           CONNEC-                              FIRST
                                                  BNI              IORS   JOVENA   EDM             GES   WELIGHT   TELMA              TOM    MVOLA     NEXTA              SGEM       TOTAL
                                                                                                                             TEO                                IMMO

                          2019                     5                9       4       4               4       2        5        2        3       4         12      3          7         64
 TALENTS
 TALENT &                 2020 OBJECTIVES          6                9       9       7               9      8         7        5        8       6         12      6         10         102
 ENTREPRENEURSHIP
                          2020 COMPLETIONS         8                7       10      6               6      6        10        6        6       6         12      4          5         92

                          2019                     4                1       3       2               4       2        6        0        7       6         4       4          0         43

 INNOVATIONS              2020 OBJECTIVES          7                2       7       3               6       7        8        4        8       8         9       7          1         77
 INVESTMENTS

                          2020 COMPLETIONS         9                3       8       3               7      8         8        4        8       7         6       5          2         78

                          2019                     5                1       1       0              10       5       11        0        3       7         4       0          0         47
 POPULATIONS
 COMMUNITIES              2020 OBJECTIVES          7                3       4       2              10      8        11        0        5       7         8       0          2         67
 & INCLUSION
                          2020 COMPLETIONS         8                1       3       2              11      10        9        0        5       8         3       2          2         64

                          2019                     0                0       -2      0               0       3        6        0        -1      2          1      -1         1         9

 PLANET                   2020 OBJECTIVES          4                1       3       5              10      9         7        2        6       2         4       0          4         57
 ENVIRONMENT

                          2020 COMPLETIONS         4                2       3       6               5      9         6        3        5       4         2       2          4         55

                          2019                     14               11      6       6              18      12       28        2        12     19         21      6          8         163

                          2020 OBJECTIVES         24                15      23      17             35      32       33        11       27     23         33      13         17       303

                          2020 COMPLETIONS        29                13      24      17             29      33       33        13       24     25         23      13         13       289

                          % Completion –
 TOTAL IMPACT             2020 Objective
                                                  121%             87%     104%    100%            83%    103%     100%      118%     89%    109%       70%     100%       76%       95%
 POINTS
                          Progress vs 2019        107%             18%    300%     183%            61%    175%      18%     550%      100%    32%       10%     117%       63%       77%

34                                                                                                                                                                                          35
M E T H ODOLO GIE

    The system we used to calculate the
    AXIAN group's socio-economic and
    environmental impact.
                                                                                                                S E V E R A L C A R B O N -A C C O U N T I N G S TA N DA R DS A R E W I D E LY U S E D TO DAY,
                                                                                                                E S P E C I A L LY:

FRANCE'S TOP-RANKED
                                                                                                                KEY ELEMENTS               GHG PROTOCOL                     BILAN CARBONE®                     BEGES
INDEPENDENT CONSULTANT ON
SUSTAINABILITY AND STRATEGY                                                                                     TARGET                     Companies                        Companies, events, projects,       All companies that are
                                                                                                                                                                            collectives                        legally required to track GHG
                                                                                                                                                                                                               emissions.
Utopies was founded by Elisabeth Laville in
1993 and is now the top-ranked consulting
outfit for sustainability strategy and the                                                                      ORGANISATIONAL             Funds and capital                Funds and capital                  Funds and capital
                                                                                                                SCOPE
first-ever French company to attain BCORP
certification (122 points in 2020).                                                                             OPERATIONAL                Scopes 1, 2 and 3                Scopes 1, 2 and 3 (over 23         Scopes 1, 2 and 3
                                                                                                                SCOPE                      (not required)                   benchmarks)                        (not required)
Our consulting relies on 4 axes where clients can
dig into new possibilities and integrate CSR into                                                               AVAILABLE                  Sector-specific and cross-       Master table to compute +          No tools provided
business and innovation.                                                                                        TOOLS                      functional                       utility templates following GHG
                                                                                                                                                                            Protocol, ISO, BEGES and CDP
•        A positive brand                                                                                                                                                   formats
•        Impact measures and implementation strategy
•        Innovation that supplements change                                                                     EMISSIONS SCOPE            6 GHGs from Kyoto Protocol       6 GHGs from Kyoto Protocol +       6 GHGs from Kyoto Protocol
•        An integrated-sustainability approach.                                                                                                                             3 GHGs

                                                                                                                THIRD-PARTY VERIFICATION   An independent or internal       No third-party verification        Regulation does not require
                                                                                                                                           verification are both possible   available, but tools can only be   third-party verification but
                                                                                                                                                                            used by persons trained by the     enunciated action plans are
                                                                                                                                                                            BC professional association,       legally-binding.
                                                                                                                                                                            thus ensuring accuracy.
                                                                                                                AUDIT SPAN                 ///                              Annual                             Every 3 years for collectives;
                                                                                                                                                                                                               every 4 years for companies.
                                                       Utopies also has an online and offline think tank that
                                                       publishes position papers, organises surveys and
                                                       studies and assembles focus groups. Some of their
                                                       work includes “Mes Cours pour la Planète,” “Campus       We will employ the Bilan Carbone® method to conduct this survey.
                                                       Responsables” as well as webinars on resilience-
                                                       building.

    36                                                                                                                                                                                                                                          37
M E T H ODOLO GIE

The Methodological basis for
the Local Footprint Model
To reproduce the real economy as realistically
as can be

                                                                                                                                                                                                                                                                   A GLOBAL MODEL…                          Axian is now the
1                              2                                                                                                                                                                                             3                                             (220 countries)
TO ANALYSE SEVERAL             TO CALIBRATE ALGORITHM                                                                                                                                                                        TO QUALIFY FINANCIAL VALUE                                                     1st group in
LOCAL AND INTERNATIONAL        ADAPTED TO NATIONAL                                                                                                                                                                           OF ENVIRONMENTAL AND SOCIO-                                                    Madagascar to have
ECONOMIC DATABANKS             SPECIFICITIES AND BALANCE OF                                                                                                                                                                  ECONOMIC FACTORS
                               TRADE                                                                                                                                                                                                                                                                        carried out a Scope-3
                                                                                                                                                                                                                                                                                                            GHG emissions
PURCHASING/PROCUREMENT                                                                                                                                                                                                       JOBS AND GDP                                                                   survey in line with
                                                                                                                                                                                                                                                    Data                                                    international norms
                                                                                                                                                                                                                                                   National
                                                                                                                                                                                                                                                   Accounts                                                 and standards, on all of
CONSUMPTION/USAGE
                                                                                                                                                                                                                                                                                                            its operations.
                                                                                                                                                                                                                             GHG EMISSIONS
                                                                          ARUBA (ABW)
                                                                                      PRODUCTION FUNCTION
                                                                                              KUWAIT (KWT)         ZIMBABWE (ZWE)
                                                                                                                                                  CONSUMPTION FUNCTION
                                                                                                                                                 ABW                  KWT                  ZWE
                                                                                                                                                                                                           SATELLITE ACCOUNTS
                                                                                                                                                                                                                             Raw materials
                                                                                                                                                                                                                                                                                                            In Europe, several
                                                                                                                                                                                                          Electric power generation

                                                                     S1     S2   S3 … S378   S1   S2   S3 … S378   S1   S2   S3 … S378   Households Pub Admin Households Pub Admin Households Pub Admin   Nuclear   Fossil
                                                                                                                                                                                                                             Water
                                                                                                                                                                                                                 (Sector n°21)

                                                                                                                                                                                                                             Hydro   Renew

PRODUCT TRADE/EXCHANGE          Country n°1          Sector 1
                                                     Sector 2
                                                     Sector 3
                                                                     %
                                                                     %
                                                                     %
                                                                            %
                                                                            %
                                                                            %
                                                                                 %
                                                                                 %
                                                                                 %
                                                                                        %
                                                                                        %
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                                                                                             %
                                                                                             %
                                                                                             %
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                                                                                                  %
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                                                                                                       %
                                                                                                       %
                                                                                                       %
                                                                                                             %
                                                                                                             %
                                                                                                             %
                                                                                                                   %
                                                                                                                   %
                                                                                                                   %
                                                                                                                        %
                                                                                                                        %
                                                                                                                        %
                                                                                                                             %
                                                                                                                             %
                                                                                                                             %
                                                                                                                                   %
                                                                                                                                   %
                                                                                                                                   %
                                                                                                                                            %
                                                                                                                                            %
                                                                                                                                            %
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                                                                                                                                                                                       %
                                                                                                                                                                                                 %
                                                                                                                                                                                                 %
                                                                                                                                                                                                 %
                                                                                                                                                                                                            %
                                                                                                                                                                                                            %
                                                                                                                                                                                                            %
                                                                                                                                                                                                                     %
                                                                                                                                                                                                                     %
                                                                                                                                                                                                                     %
                                                                                                                                                                                                                              %
                                                                                                                                                                                                                              %
                                                                                                                                                                                                                              %
                                                                                                                                                                                                                                      %
                                                                                                                                                                                                                                      %
                                                                                                                                                                                                                                      %
                                                                                                                                                                                                                                                                                                            large groups operating
                                                     …               %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %          %        %        %       %
                                                     Sector 378      %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %          %        %        %       %

                                                                                                                                                                                                                                                                                                            in similar sectors of
                                                     Sector 1        %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %        100%      100%     100%    100%
                                Country n°110
                                                     Sector 2        %      %    %      %    %    %    %     %     %    %    %     %        %          %         %          %          %         %
                                                     Sector 3        %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %
                                                     …               %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %
                                                     Sector 378      %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %

                                                                                                                                                                                                                                                                                                            industry are currently
                                Country n°220        Sector 1        %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %
                                                     Sector 2        %      %    %      %    %    %    %     %     %    %    %     %        %          %          %         %          %         %
                                                     Sector 3        %      %    %      %    %    %    %     %     %    %    %     %         %         %          %         %          %         %
                                                     …               %      %    %      %    %    %    %     %     %    %    %     %         %         %          %         %          %         %

                                                                                                                                                                                                                             BIODIVERSITY
                                                                                                                                                                                                                                                              .. AND REGIONAL MODELS                        conducting scope-2
                                                     Sector 378      %      %    %      %    %    %    %     %     %    %    %     %         %         %          %         %          %         %

SERVICES TRADE                             VALUE ADDED
                                       (wages, taxes, profits, …)
                                                TOTAL
                                                                     %
                                                                     %
                                                                            %
                                                                            %
                                                                                 %
                                                                                 %
                                                                    100% 100% 100%
                                                                                        %
                                                                                        %
                                                                                             %
                                                                                             %
                                                                                                  %
                                                                                                  %
                                                                                                       %
                                                                                                       %
                                                                                      100% 100% 100% 100%
                                                                                                             %
                                                                                                             %
                                                                                                                   %
                                                                                                                   %
                                                                                                                        %
                                                                                                                        %
                                                                                                                             %
                                                                                                                             %
                                                                                                            100% 100% 100% 100%
                                                                                                                                   %
                                                                                                                                   %
                                                                                                                                  100%     100%      100%       100%      100%       100%      100%

                  Data                                                                                                                                                                                                                                        (Details per region, district or province…)   GHG emissions surveys.
                                                 JOBS                N      N    N      N    N    N    N     N     N    N    N     N

                 National
                 Accounts

PURCHASE/ADDED-VALUE
COEFFICIENT

TAX-TO-GDP RATIO/ SALARY-TO-GDP RATIO

LOCAL FOOTPRINT® COVERS 220 COUNTRIES
(GROUPING BY GEOGRAPHIC ZONES IS POSSIBLE) AND 380 SECTORS.

38                                                                                                                                                                                                                                                                                                                                     39
OU R      SOCIO- E C O NOM I C                       I M PAC T

Results of AXIAN's                                                                                                              Consolidated Impact in
socio-economic Impact                                                                                                           Madagascar
stemming from its operations                                                                                                    Jobs supported per type of impact
and investments                                                                                                                 These are day-to-day activities. Through its spending, AXIAN sustained 171,800 jobs (full-time equivalent) (see breakdown):

                                                                                                                                                                                                    2%
               171,800
              jobs tied to AXIAN's
                                            DEFINITIONS

                                            AXIAN's activities in Madagascar                                                                                                                        9%
                                                                                                                                                                                                              AXIAN employees in Madagascar

                                                                                                                                                                                                              Economic impact: suppliers

                                                                                                                                                           171,800
      operations and investments            This includes all activities linked to day-to-day operations, by way of its
                   in Madagascar            expenses (purchases, salaries, taxes) for the year and for all companies.                                                                               4%        Economic impact stemming from
                                                                                                                                                                                                              household spending

                (or 1.2% of the country's                                                                                                                    Job supported                                    Economic impact linked to
                                            AXIAN's financial services                                                                                      in Madagascar
                    working population)
                                            These are the financial services disbursed by BNI MADAGASCAR and MVOLA
                                                                                                                                                                                                    25%       spending of tax money paid by
                                                                                                                                                                                                              AXIAN
                                            as loans or as advances in 2019.                                                                                                                                  Economic impact stemming from

              530M $                        Jobs tied to the group are full-time equivalents
                                            These are jobs that rely on AXIAN's day-to-day activities. The jobs, both paid
                                                                                                                                                                                                    60%       disbursements for financing (BNI)
                                                                                                                                                                                                              and advances (MVOLA)

                    of GDP created
                                            and unpaid, and both public and private, are 100% supported by AXIAN and are
 or 4% of Madagascar's GDP                  measured as “job per person per year” and the unit's definition does account
                                            for the number of hours a person usually works for during the year.
                                                                                                                                AXIAN STAFF IN MADAGASCAR                                           Supported by:

              102,740
      jobs tied to BNI and MVOLA
                                            GDP Creation/Contribution to National GDP
                                            This is a key economic indicator of wealth creation. It englobes AXIAN's            3,280 jobs
                                                                                                                                Full-time Yearlong equivalent.
                                                                                                                                                                                                    • Taxes paid by AXIAN.
                                                                                                                                                                                                    • Taxes paid by AXIAN employees.
                                                                                                                                                                                                    • Taxes paid by AXIAN suppliers and their employees.
                                            contribution to all wealth that was created on Malagasy soil during the past
                  financial services                                                                                                                                                                • T
                                                                                                                                                                                                       axes paid by companies and employees who depend on
                                            year.                                                                                                                                                     household spending.
                                                                                                                                ECONOMIC IMPACT OF SUPPLIERS

                                            Job Multiplier                                                                      16,250 jobs                                                         ECONOMIC IMPACT OF BNI LOAN AND MVOLA ADVANCE

                            x52
                     Job Multiplier:
                                            The job multiplier is the ratio of all jobs tied to AXIAN's day-to-day operations
                                            to persons that are directly employed by AXIAN.
                                                                                                                                Supported by AXIAN's expenses.

                                                                                                                                ECONOMIC IMPACTS LINKED TO HOUSEHOLD SPENDING
                                                                                                                                                                                                    DISBURSEMENTS

                                                                                                                                                                                                    102,740 jobs
     for every AXIAN employee, 51                                                                                                                                                                   Supported by:
                                            Working population
      other jobs are indirectly tied        The proportion of people aged 15-64 who are economically-active, working            6,860 jobs                                                          • Loans disbursed by BNI and MVOLA.
                                                                                                                                                                                                    • S
                                                                                                                                                                                                       alaries paid to employees of clients and suppliers of
     to the group's operations and          contributors to the production of goods and services over a period of time. In      Supported by:                                                         beneficiaries of BNI and MVOLA loans.
                       investments                                                                                              • S
                                                                                                                                   alary paid to AXIAN employees.
                                            2019, Madagascar's was estimated at 138 M people.                                                                                                       • T
                                                                                                                                                                                                       axes paid by companies and employees that depend on
                                                                                                                                • Salary paid to employees throughout AXIAN's supplier chain.         those households' spending.
                                                                                                                                                                                                    • T
                                                                                                                                                                                                       axes paid by companies and employees that depend on the
                                                                                                                                ECONOMIC IMPACT LINKED TO PUBLIC SPENDING                             suppliers and clients of BNI and MVOLA beneficiaries.

                                                                                                                                42,670 jobs

40                                                                                                                                                                                                                                                           41
OU R    IMPAC TS

                Energy Cluster

SOCIO-ECONOMIC                                                                                     E N V I R O N M E N TA L

KEY FIGURES             SECTORIAL SOCIO-ECONOMIC                                                   ENVIRONMENTAL FOOTPRINT PER DEPARTMENT
(2019, MADAGASCAR)      IMPACT BY TYPE

PURCHASES

55 M$                   28,3 M$
                        Wealth Creation

SALARIES PAID

3,65 M$
TAXES PAID                               480                         DIRECT EMPLOYEES
                                        direct
99 M$                                 employees
ADDED VALUE
                                                                     INDIRECT EMPLOYEES
28,3 M$                             5 090 indirect
                                                                     supported by supplier
                                                                     network
                                     employees
SECTORIAL                                                            JOBS GENERATED
                                                                                                      Distribution           35%
                                                                                                                                   110,976 tco2e
                                                                                                      Factories              29%
SOCIO-ECONOMIC                                                       supported by consumption of                                   released by the cluster's
FOOTPRINT (TOP 3)                      32 970                        households and spending of
                                                                                                      Purchasing             24%   operations and functions,
                                                                                                                                   or 35% of AXIAN's carbon
                                   jobs generated                                                                            10%
                                                                     public administration            Office/Fuel-station
                                                                                                      Waste                        footprint (as per scope of
PUBLIC ADMINISTRATION
                                                                                                      Energy                 1%    evaluation)
28,950 jobs                                                                                           Travel                 1%
75%                                                                                                   Air conditioning &
                                                                                                      environment
                                                                                                                             0%
                                                                                                                                   233 tco2
                                                                     x80
TRADE
                               38 540 JOBS CREATED                                                    Immobilisations        0%    per cluster
1,450 jobs                                                                                            End-of-life products   0%    employee
4%                       JOB MULTIPLIER :
BTP                      for every employee of our Energy cluster,                                                                 *Excluding extraction of raw
                         79 jobs are generated across                                                                              materials and usage of finished
1,130 jobs               Madagascar.
                                                                                                                                   products after sale

3%

42                                                                                                                                                                   43
OU R    IMPAC TS

         Telecom Cluster

SOCIO-ECONOMIC                                                                                                                        E N V I R O N M E N TA L

KEYF FIGURES                                   SECTORIAL SOCIO-ECONOMIC                                                               ENVIRONMENTAL FOOTPRINT PER DEPARTMENT
(2019, MADAGASCAR)                             IMPACT BY TYPE

PURCHASES

42 M$                                          108 M$
                                               Wealth Creation

SALARIES PAID

10,1 M$
                                                                                                        DIRECT EMPLOYEES
TAXES PAID                                                         1 170
20,9 M$                                                            direct
                                                                 employees
ADDED VALUE
                                                                                                        INDIRECT EMPLOYEES
66,7 M$                                                       5 030 indirect
                                                                                                        supported by supplier
                                                                                                        network
                                                                    v
                                                               employees
SECTORIAL                                                                                               JOBS GENERATED
                                                                                                                                         Purchasing/Procurement      60%
                                                                                                                                                                           54,788 tco2e
                                                                                                                                         Energy                      12%
SOCIO-ECONOMIC                                                                                          supported by consumption of                                        released by the cluster's
FOOTPRINT (TOP 3)                                                                                                                        Factories (gasoil           9%    operations and functions,
                                                                   9 720                                households and spending of       consumption in TOM plants
                                                                                                                                                                           or 17% of AXIAN's carbon
                                                                                                        public administration            [solar + GE] & GE)

PUBLIC ADMINISTRATION                                         jobs generated                                                             Usage (active clients'      8%
                                                                                                                                                                           footprint (as per scope of
                                                                                                                                         electrical consumption            evaluation)
7,180 jobs                                                                                                                               to charge mobile phines)

45%                                                                                                                                      Assets                      6%
                                                                                                                                         Distribution                3%    47 tco2
                                                                                                        x13,6
INFORMATION & COMMUNICATIONS
                                                         15,920 JOBS CREATED                                                                                         2%    per cluster
1,740 jobs                                                                                                                               Travel
                                                                                                                                                                           employee
                                                                                                                                         Air conditioning &          0%
11%                                              JOB MULTIPLIER :                                                                        environment

BTP                                              for every employee of our Telecoms cluster,                                             End-of-life products        0%
                                                 12.6 jobs are generated across                                                                                      0%
1,580 jobs                                       Madagascar.
                                                                                                                                         Office waste

10%
                    TELMA also has a vast distribution network that allows them to be present in over
                    43,000 affiliated outlets across the country.
44                                                                                                                                                                                                      45
OU R    IMPAC TS

         Real Estate Cluster

SOCIO-ECONOMIC                                                                                  E N V I R O N M E N TA L

KEY FIGURES             SOCIO-ECONOMIC IMPACT                                                   ENVIRONMENTAL FOOTPRINT PER DEPARTMENT
(2019, MADAGASCAR)      BY TYPE

PURCHASING

7,3 M$                  12 M$
                        Wealth Creation

SALARIES PAID

743 K$
TAXES PAID                               170                      DIRECT EMPLOYEES
                                        direct
423 K$                                employees
ADDED VALUE
                                                                  INDIRECT EMPLOYEES,
7,4 M$                              860 indirects
                                                                  supported by supplier
                                                                  network
                                     employees

SOCIO-ECONOMIC                                                    JOBS GENERATED,
                                                                                                   Usage (buildings' energy
                                                                                                   consumption)
                                                                                                                              46%
                                                                                                                                    19,970 tco2e
FOOTPRINT BY                                                      supported by consumption of      Supplier expenses          28%   du released by the cluster's
SECTOR (TOP 3)                           560                      households and spending of       Assets                     26%   operations and functions or
                                                                                                                                    6% of AXIAN's carbon footprint
                                   jobs generated                 public administration            Travel                     0%    (as per scope of evaluation)
BTP
                                                                                                   Air conditioning and       0%
340 jobs                                                                                           environment

21%                                                                                                Energy                     0%
                                                                                                                                    115 tco2
                                                                                                                                    per cluster
                                                                  x19,1
PUBLIC ADMINISTRATION
                              1,590 JOBS GENERATED                                                                                  employee
310 jobs
19%                      JOB MULTIPLIER :
TRADE                    for every employee of our Telecoms cluster
                         18.1 jobs are generated across Madagascar.
240 jobs
15%

46                                                                                                                                                                   47
OU R    IMPAC TS

         Open Innovation & Fintech Cluster

SOCIO-ECONOMIC                                                                                                                      E N V I R O N M E N TA L

KEY FIGURES                                SOCIO-ECONOMIC IMPACT                                                                    ENVIRONMENTAL FOOTPRINT PER DEPARTMENT
(2019, MADAGASCAR)                         BY TYPE

PURCHASING

11 M$                                      35 M$
                                           Wealth Creation

SALARIES PAID
                                                                                                    DIRECT EMPLOYEES
1,6 M$
                                                                  240                               INDIRECT EMPLOYEES,
                                                                                                    supported by supplier
TAXES PAID                                                       direct                             network
6,3 M$                                                         employees
                                                                                                    JOBS GENERATED,
ADDED VALUE                                                 3 150 indirect                          supported by consumption of
                                                             employees                              households and spending of
6 M$                                                                                                public administration

                                                               2 860                                DOWNSTREAM JOBS

SECTORIAL                                                 jobs generated
                                                                                                    Advances from MVOLA
                                                                                                    create customers for many
                                                                                                                                       Usage (carbon impact
                                                                                                                                       linked to MVOLA loans/
                                                                                                                                       advances)
                                                                                                                                                                95%
                                                                                                                                                                      15,415 tco2e
SOCIO-ECONOMIC IMPACT                                                                               enterprises, thus creating a                                      released by the cluster's
(TOP 3)                                                                                                                                Purchasing               4%    operations and functions,
                                                                                                    direct as well as a catalytic
                                                             7 280                                  economic impact.                   Travel                   1%    or 5% of AXIAN's carbon
TRADE                                                    downstream jobs                                                               Distribution             0%
                                                                                                                                                                      footprint (as per scope of
                                                                                                                                                                      evaluation)
5,000 jobs                                                                                                                             Assets                   0%
37%                                                                                                                                    Energy                   0%
                                                                                                                                       Air conditioning &       0%    64 tco2
                                                                                                   x56,6
PUBLIC ADMINISTRATION                                                                                                                  environment
                                                  13,530 JOBS GENERATED                                                                                               per cluster
2,730 jobs                                                                                                                             End-of-life products     0%
                                                                                                                                                                      employee
20%                                          JOB MULTIPLIER :
HEALTHCARE, EDUCATION & SOCIAL               for every employee of our Open
                                             Innovation & Fintech cluster, 55,6 jobs
1,920 jobs                                   are generated across Madagascar.
14%
                MVOLA also possesses a vast distribution network, which allows it to be present in nearly 21,000
                outlets across the country.
48                                                                                                                                                                                                 49
OU R    IMPAC TS

              Finance Cluster

SOCIO-ECONOMIC                                                                                         E N V I R O N M E N TA L

KEY FIGURES               SOCIO-ECONOMIC                                                               ENVIRONMENTAL FOOTPRINT PER DEPARTMENT
(2019, MADAGASCAR)        IMPACT BY TYPE

PURCHASES

10,5 M$                   239 M$
                          Wealth created

SALARIES PAID

9,7 M$                                                                  DIRECT EMPLOYEES

                                                                        INDIRECT EMPLOYEES,
TAXES PAID                                   1 160                      supported by supplier
5,6 M$                                       direct
                                           employees
                                                                        network

VALUE ADDED                                                             JOBS GENERATED,
                                       2 070 indirect
58,7 M$
                                                                        supported by consumption of
                                                                        households and spending of
                                        employees                       public administration
LOANS GRANTED

184 M$*                                   1 270
                                                                        DOWNSTREAM JOBS
                                                                        Financing disbursed by BNI        Usage (carbon impact     94%
                                                                                                                                         115,474 tco2e
                                     jobs generated                     gives financial backing to
                                                                                                          linked to MVOLA loans/
                                                                                                          advances)
                                                                        beneficiaries, who implement                                     released by the cluster's operations
SECTORIAL                                                                                                 Purchasing               5%
                                                                        projects or create companies                                     and functions, or 36% of AXIAN's
SOCIO-ECONOMIC IMPACT                  101 990                          that have both indirect and       Distribution             1%    carbon footprint (as per scope of
(TOP 3)                             downstream jobs                     catalytic economic impacts        Travel                   0%    evaluation)
                                                                                                          Air conditioning &       0%
TRADE
24,290 jobs
                                                                                                          environment

                                                                                                          Energy                   0%
                                                                                                                                         100 tco2
                                                                                                                                         per cluster
24%                                                                                                                                0%

                                                                        x88
                                                                                                          Office waste                   employee
                              106,490 JOBS GENERATED
AGRICULTURE & FISHERIES
24,210 jobs                JOB MULTIPLIER :
                           for every employee of our Finance cluster,
24%                        87 jobs are generated across
PUBLIC ADMINISTRATION      Madagascar.
8,150 jobs
8%
50                                                                                                                                                                              51
OU R    IMPAC TS

AXIAN Support Services

SOCIO-ECONOMIC                                                                                      E N V I R O N M E N TA L

KEY FIGURES                  SOCIO-ECONOMIC IMPACT                                                  ENVIRONMENTAL FOOTPRINT PER DEPARTMENT
(2019, MADAGASCAR)           BY TYPE

PURCHASING

414 K$                       1,5 M$
                             Wealth created

SALARIES PAID

819 K$
TAXES PAID                                    60                      DIRECT EMPLOYEES

38 K$                                       direct
                                          employees
VALUE ADDED
                                                                      INDIRECT EMPLOYEES,
1 M$                                      55 indirect
                                                                      supported by supplier
                                                                      network
                                          employees
SECTORIAL                                                             JOBS GENERATED,
                                                                                                       Purchasing         46%
                                                                                                                                453
SOCIO-ECONOMIC IMPACT
(TOP 3)
                                                                      supported by consumption of
                                                                                                       Travel

                                                                                                       Air conditioning
                                                                                                                          26%
                                                                                                                          13%
                                                                                                                                tco2e
                                              110                     households and spending of
                                                                                                                          8%
                                                                                                                                released by the cluster's
                                                                      public administration
                                        jobs generated
                                                                                                       Energy
                                                                                                                                operations and functions, or 1%
OFFICE/HEADQUARTERS                                                                                    Immobilisations    8%    of AXIAN's carbon footprint (as per
60 jobs                                                                                                                         scope of evaluation)
27%
                                                                                                                                8 tco2
                                                                      x4
TRADE
                                    225 JOBS GENERATED                                                                          per cluster
30 jobs                                                                                                                         employee
13%                           JOB MULTIPLIER :
HOSPITALITY & RESTAURATION    for every employee of AXIAN SUPPORT
                              SERVICES, 3 jobs are generated across
30 jobs                       Madagascar.
12%

52                                                                                                                                                                    53
O U R          S O C I O - E C O N OM I C                          I M PA C T                                                                                      OU R        EN VIR ON MEN TA L                             IMPACT

AXIAN Group Purchases Breakdown                                                                                                                                     Global Results of
by Sector—Madagascar                                                                                                                                                Carbon Footprint Audit*

                                                                                                                             Bulk purchase or purchase of
                                                                                                                             specialised goods/services

                           Trade                                                                                                               38 M$     30%

             Transport/Logistics                                                                           25 M$      20%

               Buildings/Repairs                                                  18 M$      14%
                                                                                                                      Repair and maintenance of machinery and
                                                                                                                      for material for commercial and industrial
Support services for subsidiaries                          10 M$   8%                                                 uses, Security and surveillance services,
                                                                                                                      Advertising, public relations and related
                                                                                                                      services and related services, Rental of
             Consulting/Experts                     8 M$     7%                      Consulting services in           commercial and industrial and industrial
                                                                                     environmental and other          equipment, etc.
                                                                                     technical fields: Architecture
                                                                                     and Engineering, IT systems
    Information/Communications                      8 M$     6%                      management, Legal Services,
                                                                                     Accounting Services
                                                                                     Management Consulting, etc.
                         Energy              5 M$   4%

           Services automobiles              5 M$   4%                                                                                                                                                                                                           CO2
     Bank, Finance & Insurance      2 M$     2%                     Manufacturing of
                                                                    communications, terminals and                                                                                                                                                               PER SCOPE
                                                                    other IT equipment, etc.
                                             2%
                                                                                                                                                                        317,074                              96,7
          Machines/Equipments       2,1 M$

         Real-estate operations     1,3 M$   1%
                                                                                                                                                                         tco2e                              tco2e
                           Office   1,2 M$   1%                                                                                                                         tco2 released by                    per AXIAN
      Hospitality & Restauration    0,5 M$   0%
                                                                                                 126 M$                                                                Axian's operations                   employee
                                                                                                                                                                                                                                                                  2%    Scope 1
              Municipal services    0,5 M$   0%
                                                                                           Value of purchases                                                                                                                                                     11%   Scope 2
                   Print & paper    0,5 M$   0%                                            made from Malagasy
                                                                                                                                                                                                                                                                  87%   Scope 3
                   Other sectors    1,6 M$   1%                                                 suppliers

                                                                                                                                                                   * excluding emissions from extraction of raw materials and use of products sold by JOVENA.

54                                                                                                                                                                                                                                                                                55
O UR      ENV I R O NM E NTAL                   I M PAC T

Breakdown of AXIAN's Carbon                                                                                 Sources of Significant Impacts
Footprint (Per Cluster)                                                                                     per Subsidiary

The Finance cluster accounts for approximately 36% of the Group's emissions.                                ALLOCATION OF GROUP CO2 IMPACT PER SUBSIDIARY AND SOURCE OF EMISSIONS
The Energy and Telecoms clusters together account for approximately 52% of the Group's emissions.
                                                                                                            - B
                                                                                                                NI financing has a significant impact in terms of AXIAN's emissions because it represents 34% of AXIAN's
                                                                                                               emissions and 94% of BNI's.

                                                                                                            - Excluding hydrocarbons' extractions and the usage of their products, JOVENA has the second-highest
                                                                                                               emissions out of all subsidiaries. Purchasing, distribution and factory (refineries, in this case) are the main
                                                                                                               sources of emissions.

                                                                                                            - Some entities have a relatively-weak carbon footprint that in fact markedly increases with usage of their
                                                                                                               service (MVOLA advances or First Immo rentals' electrical consumption).

                                                                                36%       Finance

                                                                                35%
                           CO2
                                                                                          Energy

                                                                                17%       Telecoms            36%
                                                                                                               0%
                                                                                                               2%
                      PER CLUSTER                                               6%        Real Estate

                                                                                5%        Open Innovation
                                                                                          & Fintech                    28%

                                                                                                                        3%                                                   Travel                       Energy
                                                                                                                                                                             Assets                       Office/Fuel-station Waste
                                                                                                                                                                             Production—Factories         Distribution
                                                                                                                        5%
                                                                                                                                                                             Purchasing                   Usage

                                                                                                              34%

                                                                                                                                 13%
                                                                                                                        12%
                                                                                                                                 2%

                                                                                                                                           6%
                                                                                                                                 9%                 5%       5%
                                                                                                                                           2%
                                                                                                                        7%                                            4%
                                                                                                                                           2%
                                                                                                                                                    5%                1%
                                                                                                                                                             5%                1%        1%
                                                                                                                                           3%                         2%                             0%          0%         0%        0%    0%
                                                                                                                        0%       1%                                   0%       0%
                                                                                                               BNI    JOVENA    TELMA     FIRST     GES     MVOLA     TOM    WELIGHT    EDM         PULSE      NEXTA-   CONNECTEO     ASS   IORS
                                                                                                                                          IMMO                                                                 SGEM

                                                                       1%

56                                                                                                                                                                                                                                                 57
OUR FLAGSHIP
     PROJECTS 2020
     60   COVID RESPONSE

     70   FLAGSHIP PROJECTS PER CLUSTER

     76   AXIAN UNIVERSITY

58                                        59
O UR     F L AG SH I P           PR OJE C T S

COVID Response
AXIAN did not hesitate to put all that they could at the public's disposal even as it navigated the negative repercussions brought
about by the COVID-19 pandemic. AXIAN's COVID-19 response can be broken down into four categories, namely:

•   HSE Rules and Procedures.
•   HR policy revisions.
•   Donations made by AXIAN Foundation/Company CSR programs.
•   Products and offers that were adapted to the situation at hand.

                                        CREATED ADAPTED PRODUCTS
                                                                                       DONATIONS                                     NEW HR POLICIES                             HSE POLICIES                           SDG
                                        AND SERVICES

    Information                         MADAGASCAR
                                        CONNECTEO: deployed a dedicated call
                                                                                       MADAGASCAR
                                                                                       • Distributed 2,000 Corona Boky
                                                                                                                                     ALL COUNTRIES
                                                                                                                                     Regular information broadcasts and
                                                                                                                                                                                 ALL COUNTRIES
                                                                                                                                                                                 Providing information regularly and
    and awareness                       centre in less than 24 hours, and made            (educational books about the               responding to all Axian staff queries via   promptly as the pandemic progresses.
    campaigns on                        COVID hotlines 910 and 913 with full
                                        team available to answer the public's
                                                                                          Coronavirus pandemic).
                                                                                       • Awareness campaigns in 18 villages
                                                                                                                                     CHARLIE (AXIAN group's internal social
                                                                                                                                     network).
    COVID-19 to limit                   questions about the pandemic.                     across the Mahazaza province, where
    panic and stress.                   TELMA: Free SMS broadcasts sent to
                                        all Telma users to share information on
                                                                                          we already created 2 Telma Sekoly
                                                                                          and 1 CSB (partnership with NGO's
                                                                                                                                     MADAGASCAR
                                                                                                                                     SMS broadcasts to all Telma
                                        behalf of the President's Office.                 Madagascar Hilfe and Un Enfant Par la      employees on preventive measures
                                                                                          Main).                                     as well as messages of gratitude and
                                        SENEGAL                                        • Awareness campaign in the Bekopaka         encouragement.
                                        • Broadcast information from the                 region in partnership with UNESCO.
                                           Ministry of Health and Social Welfare
                                           to all Free Senegal subscribers via         SENEGAL
                                           SMS.                                        COVID-19 response fund.
                                        • Implemented a USSD service about            • Contracted to provide call-centre
                                           information on prevention (partnership         service.
                                           with Lafricamobile).                        • Contributed to national communication
                                        • Free access to coronavirus-related             budget.
                                           websites.

                                        TOGO
                                        • SMS broadcasts
                                        • Information-sharing via social media,
                                           company website and emails.
                                        • Shared the link to the country's COVID-
                                           tracking and information website with
                                           all clients via SMS.

                                        COMOROS
                                        • Deployed a free hotline number.
                                        • Managed SMS information-sharing
                                           campaign on the Ministry of Health
                                           and health authorities' behalf.

60                                                                                                                                                                                                                            61
O UR   F L AG SH I P    PR OJE C T S

COVID Response
                         CREATED ADAPTED PRODUCTS
                                                                    DONATIONS                                      NEW HR POLICIES                              HSE PROTOCOLS                               SDG
                         AND SERVICES

 Initiatives to limit    MADAGASCAR
                         • Promoting remote/electronic banking
                                                                    MADAGASCAR
                                                                    • Donation of 6,000 boxes of
                                                                                                                   ALL COUNTRIES
                                                                                                                   Implementation of far-reaching
                                                                                                                                                                ALL COUNTRIES
                                                                                                                                                                FOR THE PUBLIC:
 transmission               solutions such as BNI-NET.                 Hydroxychloroquine to the Malagasy          contingency & continuity plan:               • Publishing information about
                                                                       Government, enough to treat up to                                                           preventive measures.
                         • P
                            romoting MVOLA mobile-money               2,000 patients. The donation was            • Authorisation for leaves.                  • Steps taken to protect clients in bank
                           services to limit cash transactions,        distributed to hospitals dedicated to       • Implementation of remote-work/work-          branches, shops and fuel stations that
                           reduce customers' need to travel and        treating coronavirus.                          from-home for part of the group's            remained open to the public.
                           queue at brick-and-mortar locations.     • Distribution of personal-sanitation kits.      personnel.                                • COVID task force set up.
                                                                    • Majunga: distributed 10,000 Hygiene         • Adjustments made to work hours.
                         SENEGAL                                       Kits (partnership with ANTSIKA JIABY)       • Organised quarantine for at-risk          FOR EMPLOYEES:
                         • Campaign to promote the use of Free        association.                                   co-workers (recently travelled or         MADAGASCAR
                            Money.                                  • Distributed a further 12,000 kits across       participated in events with over 50       •  Implemented a protocol to manage
                                                                       18 villages in the Mahazaza province.          attendees).                                  patient care for suspected cases
                         COMOROS                                                                                   • Reorganised workspaces in line with          (in close collaboration with OSTIE,
                         • Removed all fees for cash transfer      SENEGAL                                           social-distancing protocols.                 Anosiala CHU and the DVSSER).
                            and remittance operations made via      • Financial contributions to the              • Organised transport shuttles that         •  Provided all employees with PPE
                            MVOLA.                                     disinfection of public places                  respected social-distancing and              (masks, sanitizer, thermometers for
                         • 50% bonus on purchase of MVOLA             (partnership with National Hygiene             health protocols for AXIAN personnel         temperature screening).
                            offers.                                    Service).                                      that worked as part of the group's        •  Strict enforcement of public-health
                                                                    • Donations of PPE and telephones                requisition by the government.               and social-distancing measures at all
                                                                       (Ministry of Health and Social Welfare)     • Dispatching of PPE and sanitiser to all      AXIAN locations.
                                                                                                                      personnel.                                •  Disinfection of workspaces and
                                                                    TOGO                                                                                           shuttles.
                                                                    • Financial contribution to National          MADAGASCAR                                   •  JOVENA: support for any emergency
                                                                       Solidarity Fund.                            Distribution of COVID Organic (CVO)             care, purchase of medication and
                                                                                                                   for employees wishing to follow said            oxygen bottles, distribution of
                                                                    COMOROS                                        treatment.                                      paracetamol and masks for families,
                                                                    • Donations of telephones and free                                                            creation of a toll-free hotline for
                                                                       calling to the Scientific Committee                                                         employees.
                                                                       that spearheaded the country's COVID
                                                                       response.

 Logistical Solutions    MADAGASCAR
                         BNI: Opened up BNI-NET electronic
                                                                                                                   MADAGASCAR
                                                                                                                   Provide employees with transport
 to Reduce               banking services to all customers.                                                        facilities that comply with public-health
 Unnecessary             MVOLA: promoted the use of cash
                         transfers and mobile-money services.
                                                                                                                   and social-distancing measures.

 Travel                  TELMA SERVICES: Launched a web-
                         based credit loading tool.
                         Jovena Drive: Gave small-scale producers
                         a safety net by allowing them to order
                         vita Malagasy products during lockdown.
                         JOVENA: Tasked with maintaining fuel-
                         station services and energy production/
                         distribution.

62                                                                                                                                                                                                                63
O UR   F L AG SH I P   PR OJE C T S

COVID Response
                        OFFERING ADAPTED PRODUCTS AND                                                               OFFERING ADAPTED PRODUCTS AND
                                                                     DONATIONS                                                                                SDG
                        SERVICES                                                                                    SERVICES

 Improving lifestyle    ALL COUNTRIES
                        ENTIRE GROUP: In order to stay in touch
                                                                     SENEGAL
                                                                     Donated free internet for inpatients
                                                                                                                    ALL COUNTRIES
                                                                                                                    Provided encouragements and
 and providing           with loved ones, the group committed to      (Ministry of Health and Social Welfare).      motivation to AXIAN staff who continued
 comfort during          maintaining telecommunications, energy                                                     to work during difficult periods.
 lockdowns               and financial services.
                                                                                                                    MADAGASCAR
                        Promotions on usual offers (voice, SMS,                                                     TELMA: Meal contributions to help
                        internet, mobile money).                                                                    employees who reported to work as part
                                                                                                                    of the company's requisition.
                        TELMA: Partnered with other telcos to
                        offer reduced SMS across networks at
                        10 ar per SMS instead of 120.

 Actions taken to       MADAGASCAR
                        CONNECTEO: Set up the hotline 813 to
 address Increasing     render assistance to battered women.
 domestic violence      TELMA: Set up the hotline 813 to render
 against women          assistance to battered women.
 during lockdowns

 Solutions to Curb      MADAGASCAR
                        TELMA: Promoted Telma's internet offer
                                                                     MADAGASCAR
                                                                     • Partnership with startup and incubator
 COVID's Impact         as a best-in-class support for remote-          client Laza-Adina to deploy their
 on the Education       schooling/homeschooling.                        educational platform at reduced
 Sector                 NEXTA: Solicited startup and incubator
                        client Laza-Adina to deploy their
                                                                        cost: pilot project launched with 350
                                                                        AKAMASOA students to help prepare
                        educational platform at reduced cost to         for BEPC and another 90 students to
                        help prepare students for CEPE, BEPC,           prepare them for BACC exams.
                        and BACC in schools affiliated with the      • Financial contribution to radiowave
                        IPT program.                                    emissions project to ensure continuity
                                                                        in the educational sector, in partnership
                        SENEGAL                                         with UNESCO and MENEPT +
                        Free 4G+ modem rental with contracts +          participate in tests by selecting and
                        tripled data.                                   equipping chosen test households to
                                                                        provide feedback.
                        TOGO
                        • Launched 4G+ (4G+ SIMs + 2 GB data        SENEGAL
                           free).                                    • Free access to learning websites for
                        • “Hot Spot” telephone offer: telephone +      students and parents who are FREE
                           data package advertised digitally and        subscribers (Ministry of Education).
                           in-store.

64                                                                                                                                                                  65
O UR   F L AG SH I P   PR OJE C T S

COVID Response
                        OFFERING ADAPTED PRODUCTS AND
                                                                      NEW HR POLICIES                                 SDG
                        SERVICES

 Actions to Avoid       ALL COUNTRIES
                        Continuity in payments to suppliers
                                                                      ALL COUNTRIES
                                                                      Mandated preservation of jobs:
 or Mitigate The        and partners at a normal rate.                •  No layoffs.
 Impact of Business                                                   •  Businesses to continue operating as normal
 Closures               MADAGASCAR
                        TELMA: Promoted Telma's internet
                                                                         (remote work during lockdown, etc.).

                        services as best-in-class work-from-
                        home solution.
                        NEXTA: Continued to support
                        incubated companies and the country's
                        entrepreneurial community:
                        •	Incubated company “Green & KOOL”
                           launched “alt soap” project—collected
                           used cooking oil from restaurants to
                           make environmentally-friendly soap.
                        • Launched “AMI Vita Malagasy”, an
                           initiative in partnership with JOVENA
                           and supported by MICA—call-to-tender
                           for entrepreneurs to submit business
                           plans for eligible products and services
                           to be brought to market.

                        SENEGAL
                        • Remote-working solutions: Free
                           modem + 1.5 times normal data
                           allowance on 100 GB FREE Business
                           offer.

                        TOGO
                        • Remote working solutions: CAFEYN
                           offer, send 1 SMS to enjoy access to
                           CAFEYN.
                        • Relaxed eligibility criteria for
                           subscription.
                        • Communications campaign on remote-
                           working and mobile-money on social
                           media, in the press and in-store.

66                                                                                                                          67
O UR   F L AG SH I P   PR OJE C T S

COVID Response
                          OFFERING ADAPTED PRODUCTS AND
                                                                           DONATIONS                               SDG
                          SERVICES

 Solutions to Combat      MADAGASCAR
                          BNI: 3-month moratorium on all
                                                                           MADAGASCAR
                                                                           Distributed basic food supplies
 Financial Hardship        repayments:                                      for homeless people, as well as
                           • Pushed back the next 3 repayments             incarcerated women and children:
                              due for all consumer loans and home           • 10 tons of rice and 200 blankets
                              loans for clients facing a risk of partial       donated to the Antananarivo
                              or technical unemployment.                       municipality.
                           • Deferred repayment schedule for               • 14 50-kilogram bags of rice
                              medium to long-term financing or                 delivered to the prison weekly:
                              renegotiating of more favourable credit          4 for 84 juvenile inmates and 10
                              facilities for corporate clients who             for the incarcerated women.
                              were impact by the COVID-19 crisis.           • A toy and clothes drive organised
                           MVOLA: Promoted relevant services                   by Kids Academy and Park Life
                           as usual, such as MVOLA Avance and                  in partnership with the AXIAN
                           mobile-money transfers.                             Foundation.

                          SENEGAL
                          • Elimination of all fees for contacting all
                             essential-service providers.
                          • Free recharges (all service fees
                             eliminated) when recharging phone
                             balances via Free Money.

                          TOGO
                          • Free use of TMoney services: transfers,
                             deposits, credit recharge for prepaid,
                             payment of bills and purchases ;
                             eliminated commission to be paid by
                             merchants for payments received via
                             TMoney.
                          • Increased limits for monthly use and
                             one-time recharge.

                          COMOROS
                          • 20% bonus on 2TàMoi recharges.

 Logistical and                                                            MADAGASCAR
                                                                           Used FIRST IMMO headquarters as
 Infrastructure Support                                                    a depot for medication and basic
 In COVID Response                                                         food supplies to be distributed as
                                                                           charitable donations.

68                                                                                                                       69
O UR        F L AG SH I P           PR OJE C T S

     Cluster-by-cluster: our Flagship Projects.
                                                                                                                      TELECOMS CLUSTER
     This part of the report presents cases per cluster of positive impact generated by the AXIAN Group
     and its energy, telecoms, real estate, open innovation & fintech and finance clusters.
                                                                                                                      Value Chain-wide Digital Inclusion Made Possible
           ENERGY CLUSTER                                                                                             by the Let's Connect Cluster
           Let's Renew Energy's New Energy Deal                                                                       The Let's Connect cluster's mission is to give
                                                                                                                      people access to secure and accessible
                                                                                                                                                                             time, it favors the creation of new uses such as
                                                                                                                                                                             telemedicine, e-education or industry 4.0 while
                                                                                                                      telecom and digital services. This sector's            promoting high-speed connectivity, financial
           The Let’s Renew Energy cluster has a mission:         energy accessible to all by way of adapted           contribution to social and economic growth             inclusion or adapted technological solutions for
           to make energy accessible to the greatest             products and services—Axian has partnered with       over the years is undisputed and as such,              companies.
           number by offering products and services              Freenlight to supply solar energy at minimum         AXIAN continues to work towards Africa's
           that meet the everyday needs of all. This             cost to over 80% of the Malagasy population          digital transformation across the entire value         Let's Connect accelerates access to
           is critical to responding to the challenge of         covered by our mobile networks via MBALIK, a         chain.                                                 affordable mobile and digital services across
           energetic transition. For the AXIAN Group,            household-energy system that is available to                                                                its area of operation.
           energy's New Deal is today.                           all who are connected to a large distribution        The Let's Connect cluster makes impactful
                                                                 network. It is available both in urban and remote    investments in telecoms infrastructure to              By reaching 80% population coverage in
           To respond, we must first expand access to            rural areas. Using fintech solutions, notably a      bolster competition in the sector so as to             Madagascar, or investing 245 million euros in
           renewable energy across the continent. That is        mobile payment solution, MBALIK will expand          drive digital evolution across Africa.                 Togo to future-proof Togocom's networks, Let's
           Let's Renew Energy's promise as Madagascar's          access to cleaner energy for households across                                                              Connect addresses societal digital needs and
           top solar-energy producer. That status was            Madagascar.                                          AXIAN has increased internet speeds for                contributes to the growth of mobile internet
           only conferred upon us after projects that                                                                 some 25 million internet users through its             connectivity by continuing to expand coverage.
           demanded many strategic investments and               Today, offering clean energy is no longer enough     investments in telecoms infrastructure, such           Thanks to a retail network that covers all areas
           partnerships; such as, for example, the solar plant   to combat climate change—it is time for us to        as the laying of 50,000 kilometers of fiber-           that the cluster operates in—from urban areas
           in Ambatolampy, which is the Indian Ocean's           begin the process of implementing carbon-free        optic cable (Eassy, METIS, and 2Africa) and            to the most isolated rural areas—, the Let's
           largest with an installed capacity of 20 MW           operations. We try to do this on an everyday         its presence across several internet hubs,             Connect cluster acts to bolster smartphone
           produced from 73,000 solar panels. Through            basis by reducing our CO2 emissions and              namely London, Paris and Johannesburg.                 penetration while also promoting more
           WeLight, AXIAN now allows 18,000 inhabitants          reducing our negative impact. For example, we        Concurrently, Towerco of Africa offers active          competitive phone bundles.
           of 23 remote villages across Madagascar access        launched a solar-energy project and installed        and passive infrastructure-sharing packages
           to electricity that is clean and reliable. This       solar panels such that that 40% of our bank          such as NetCos, or even Stellar-IX, a company
           represents 3,000 households and entrepreneurs,        branches are 100% powered by solar energy.           that specialises in the construction and
           1,200 becoming economically-active and 600            The same is true of 15% of our fuel stations. Our    management of data centers. The Let's Connect
           gaining extra time to work. WeLight gives             headquarters in Antananarivo are also 100%           cluster is a force for digital inclusion in Africa's
           these inhabitants over nine hours of electricity      solar-powered thanks to solar panels that were       communities.
           frequently and over 300 businesses now enjoy          installed to reduce our emissions by as much as
           the benefits of electricity.                          200 tons of CO2 per year.                            The Let's Connect cluster brings to market
                                                                                                                      next-gen mobile connectivity to redefine
           The Volobe project will be one of the country's       In 2020, 1,800 of our telecom towers across          technology and entrepreneurship in
           most important electrical-production sites, with      Africa became solar-powered. This is a long-         countries where it operates.
           an installed capacity of 120 MW and production        term commitment for Let's Renew Energy, who—
           estimated at 750 GW hours per year. In 2025, in       surprisingly—transitioned into this sector from      Let's Connect brings tomorrow's technology
           will fully take over from HFO electrical production   oil and gas. In 2010, 100% of the AXIAN group's      to market and contributes to Africa's digital
           and will supply electricity to over two million       electricity consumption came from fossil fuels,      revolution. As the first-ever mobile-network
           people living across the Toamasina province           and now 65% of our electricity consumption is        operator in Africa to deploy commercial-scale
           and the Antananarivo network. It will drastically     sourced from renewables. We are continuing our       5G with Telma Madagascar, and in West
           reduce the marginal cost of producing electricity     progress in this field to ensure that by 2030, our   Africa with Togocom, AXIAN acts to boost the
           for JIRAMA and will dramatically increase             electrical consumption will be 100% carbon-free.     development of African digital hubs while
           renewables' share of Madagascar's energy mix.                                                              positioning ourselves to become a role model
           To take concrete steps in its mission—making                                                               of all things digital and innovation. At the same

70                                                                                                                                                                                                                              71
O UR    F L AG SH I P           PR OJE C T S

     Cluster-by-cluster: our Flagship Projects.
       FINANCE CLUSTER                                                                                O P E N I N N O VAT I O N & F I N T E C H

       Sustainable Finance by the                                                                     The Pan-African development of Mobile
       Let's Access Finance Cluster                                                                   Money by Let's Create
       Large portions of developing countries'          The results speak for themselves after        As the world invariably marches forward,             and create more opportunities for the continent's
       economies remain informal, and as such,          one year in operation: 28.63 billion ariary   AXIAN's Let's Create cluster has taken a leading     most vulnerable community members.
       access to basic banking services such as         disbursed to over 2,460 clients—53% of them   role in transforming and reimagining our
       savings, credit and insurance are limited.       women, over 590 farmers to augment their      economies to make them more inclusive and            In line with this, AXIAN and Orabank recently
       Now, AXIAN has used several projects             farming and 35 clients who were financing     more innovative. One of the key points in this       partnered to accelerate financial inclusion
       and initiatives to position itself as a great    their transition to renewable energy          leadership role has been this cluster's role in      across Africa. Both parties will leverage cutting-
       facilitator of access to banking services        production.                                   developing African fintech, most notably mobile      edge technology to create innovative financial
       for all.                                                                                       money.                                               services (e-money, mobile financial services,
                                                        This commitment from the Let's Access                                                              online nano-savings) that are purpose-built to
       For example, BNI MADAGASCAR is the               Finance cluster of the group also means       Since 2010, Telma Madagascar has developed           help the most impoverished members of Africa's
       top-ranked bank in the country in terms          seeking bold partners and subscribing to      its proprietary mobile-money service MVOLA,          communities. This level of integration will allow
       of digitising their banking services. Our        ambitious investment funds. As part of our    which now has over 6 million users. Since 2018, it   branches and subsidiaries of the Orabank group
       investments have also made it the country's      strategy to support development while         has become a pillar of support for e-governance      to partner with various mobile-money operators
       bank that has the largest network of brick-      also diversifying throughout Africa, AXIAN    and for charity/philanthropy projects by NGOs        to create high-quality digital financial services. A
       and-mortar locations. AXIAN and its first-rate   invested several large impact-investment      that operate across Madagascar. We are proud         pilot project for this is already underway in Togo:
       financial partner opted for a strategy that      funds: Adenia Capital IV, ECP IV, Partech     to work every day to help channel assistance to      Orabank Togo and Togocom will soon launch the
       emphasises development while promoting           Africa, Ametis, ADPIII, Actis Energy 5 or     the most vulnerable members of our communities.      Mbanking service.
       access to banking services, supports             even MIARAKAP, Madagascar's first-ever        During 2020, which was most notably
       entrepreneurship and supports our corporate      investment fund dedicated to supporting       punctuated by the COVID-19 epidemic, it was          The group recently launched FINTEKO, an entity
       clients' growth. As a universal bank, BNI        Malagasy VSEs and SMEs.                       an easy decision to partner with the Malagasy        into which all fintech activities will be centralised.
       MADAGASCAR hopes to promote financial                                                          government to transfer financial assistance          FINTEKO will deploy its services across the
       inclusion by offering innovative savings                                                       via MVOLA to the most vulnerable households.         continent during the 2nd trimester of 2021. The
       and credit solutions that are tailormade to                                                    The TOSIKA FAMENO program is the best                first countries to benefit will be in the regions of
       every client's needs. To further evidence this                                                 example of this: as a partner of the Government      Sub-Saharan and West Africa.
       commitment, BNI MADAGASCAR disbursed                                                           of Madagascar and various sponsors, MVOLA
       the most credit facilities to SMEs and micro-                                                  transferred over 22 billion ariary to roughly
       enterprises.                                                                                   110,000 households.

       AXIAN and BNI also launched KRED, an                                                           As a pioneer, learned to leverage both its
       innovative microfinance program that gives                                                     telecoms and banking expertise to create
       Malagasy SMEs and VSEs a purpose-built                                                         efficient and accessible services. Today, this
       hybrid between digital and financial services.   " KRED IS AN INNOVATIVE                       expertise has been replicated across many key
       It also benefits from a partnership with         MICROFINANCE SOLUTION                         markets for Axian, namely in Togo with Tmoney
       MVOLA, AXIAN's mobile-money operator             THAT OFFERS MALAGASY VSES                     as well as Senegal with Free Money.
       in Madagascar, which effectively makes it        AND SMES A PURPOSE-BUILT
       unique in Africa: it is a digital microfinance   HYBRID OF DIGITAL AND MOBILE                  The AXIAN group's Open Innovation & Fintech
       bank that gives clients access to financial      SERVICES. "                                   cluster understands that digital transformation
       services while eliminating the need to travel.                                                 is a major contributor to economic growth and
                                                                                                      we are committed to ensuring that financial
                                                                                                      services across Africa create are more useful to
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