Mobile infrastructure provider IHS has completed the acquisition of all of MTN Group’s Rwanda and Zambia cell towers.
A total of 1,269 MTN towers in the two countries now officially belong to IHS, according to a press statement.
Of this total number, IHS says it now owns and manages 550 towers in Rwanda and 719 in Zambia.
“MTN Rwanda and MTN Zambia will become the respective anchor tenants on the towers while colocation services will be offered to the other operators in those markets,” says the press statement.
The closure of this deal follows IHS having secured additional funding worth $620 million.
“The company intends to utilise the proceeds of its recent fundraising 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,” reads the statement from the company.
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