MTN Group says it has sold its 1,228 mobile network towers in Rwanda and Zambia to IHS for undisclosed amounts.
Under the agreements, IHS will acquire and operate the towers and related passive infrastructure and will invest in a build-to-suit program to support MTN’s future requirements in both countries. MTN Rwanda and MTN Zambia will become the respective anchor tenants on the towers for an initial term of ten years.
The transactions bring the total number of towers in IHS’s portfolio to 10,500 extending its leadership in the African market. IHS will market services on the towers in Rwanda and Zambia, promoting tower sharing and colocation to help drive network improvements, better service to subscribers and economic growth.
“In addition to unlocking value in our passive infrastructure, we remain cognizant of the need to contain and efficiently manage our cost structures across the Group as our markets mature and become more competitive. We are confident these transactions are a positive step towards freeing up management time to focus on products and services, thereby fulfilling our mission of ‘making our customers’ lives a whole lot brighter’” says Sifiso Dabengwa, President and CEO of MTN Group. Mr. Dabengwa.
This article was lufted with permission from Tech Financials