IHS Towers, an independent multinational tower company in the world, has acquired 5,709 telecommunications towers from MTN for 412 million USD in South Africa, we learned on Wednesday (November 17th) from sources familiar with the matter. It will be responsible for providing Power-as-a-Service (PaaS) to MTN at approximately 12,800 sites across the country, including the acquired sites.
The assets acquired and the provision of PaaS across MTN’s portfolio are expected to generate revenues and adjusted EBITDA of $ 220 million and $ 80 million, respectively, in the first full year of operations.
According to Sam Darwish, chief executive officer of IHS Towers, the company – which announced a partnership with Egypt Digital Company for Investment – now has a presence in seven African markets, in addition to its four new markets in Latin America and the MENA region. .
Note that the agreement with MTN allows IHS Towers to own 70% of the South African Towers business, the remaining 30% being held by a B-BBEE consortium.