Paradigm Tower Ventures to acquire Rwanda operations from IHS Towers
Paradigm Infrastructure has launched a new sub-Saharan African mobile telecoms tower platform, Paradigm Tower Ventures.
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Paradigm Infrastructure has launched a new sub-Saharan African mobile telecoms tower platform, Paradigm Tower Ventures, which has agreed to acquire 100% of the equity in IHS Rwanda for an enterprise value of $274.5 million. IHS Rwanda operates 1,465 passive wireless infrastructure sites across the country. The deal is expected to close in the second half of 2025, subject to customary regulatory and government approvals.
Paradigm Infrastructure was founded by Stephen Harris, Hal Hess and Steven Marshall, former senior executives at global and African tower businesses including American Tower Corporation. The firm already owns a 30% stake in Minara Tanzania, which operates around 1,800 sites serving mobile network operators in Tanzania.
The acquisition of IHS Rwanda marks the first investment by Paradigm Tower Ventures, which is focused on expanding shared wireless infrastructure across sub-Saharan Africa. The platform is backed by a consortium of equity and debt providers, including Convergence Partners and Rand Merchant Bank, which acted as mandated lead arranger, sole funder and financial advisor to the transaction.
Stephen Harris, co-founder and chairman of Paradigm, said: “Rwanda represents an exciting market with high demand for shared wireless infrastructure. The Paradigm team is very much looking forward to building a strong customer focused business, providing high quality and secure infrastructure to mobile network operators.”
Sam Darwish, chairman and CEO of IHS Towers, added: “The agreement to sell our Rwanda operations to Paradigm Tower Ventures was carefully considered as part of our strategic initiatives targeted at shareholder value-creation options and highlights the value of our Rwanda operations within our wider portfolio. We have enjoyed more than 10 years of commercial success in Rwanda. We are deeply appreciative to our colleagues and customers, in addition to the Government of Rwanda for its exemplary and investor supportive framework, who have all helped make IHS Rwanda the success it is today.”
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