IHS has completed the acquisition of 1,269 mobile network towers from MTN in Rwanda and Zambia.
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.
IHS’s subsidiaries in Rwanda and Zambia acquired ownership and will manage 550 and 719 towers respectively.
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’s future requirements in both countries.
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.
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. 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.”
IHS noted that in the last two months, it has secured additional funding worth US$620 million. The company intends to use the proceeds to finance future acquisitions in key markets across Africa.
It will also support various strategic initiatives including its organic expansion programme and the development of local engineering talent, it said.