IHS Holding says it has completed the acquisition of 1,269 mobile network towers from MTN Group’s operations in Rwanda and Zambia, representing 100% of MTNs towers in the two countries.<\/p>\n
IHS\u2019s subsidiaries in Rwanda and Zambia acquired ownership and will manage 550 and 719 towers respectively.<\/p>\n
Under the agreements, IHS will acquire and operate the towers and related passive infrastructure and will invest in a build-to-suit programme to support MTN\u2019s future requirements in both countries.<\/p>\n
MTN Rwanda and MTN Zambia will become the respective anchor tenants on the towers while colocation sevices will be offered to the other operators in those markets.<\/p>\n
Group CEO of IHS, Issam Darwish, said: “The IHS footprint now reaches across Africa into the East and we are delighted to be bringing our value proposition to new markets.\u00a0 We have worked tirelessly to exceed 99.9% network uptime across the continent for MTN and will bring the same commitment to these new portfolios in Rwanda and Zambia.\u201d<\/p>\n
IHS noted that in the last two months, it has secured additional funding worth US$620 million.\u00a0 The company intends to use the proceeds to finance future acquisitions in key markets across Africa.<\/p>\n
It will also support various strategic initiatives including its organic expansion programme and the development of local engineering talent, it said.<\/p>\n
MTN looking to offload towers in Africa<\/strong><\/a><\/p>\n