IHS Towers Sells Rwandan Operations to Paradigm Tower Ventures for $274.5 Million

IHS Towers has completed the sale of its entire Rwandan business to Paradigm Tower Ventures in a transaction valued at $274.5 million. The deal marks the full transfer of IHS Rwanda Limited, which comprised approximately 1,467 telecommunications towers as of June 30, 2025.

According to IHS, the transaction aligns with its strategy to enhance shareholder value by focusing on markets where it maintains greater scale and operational efficiency. The company will now redirect its resources toward larger operations such as Nigeria, Brazil, and South Africa.

Details of the Transaction

The sale, announced on October 9, 2025, involved Paradigm Tower Ventures acquiring 100% of IHS Rwanda Limited. Paradigm Tower Ventures is a telecommunications infrastructure company backed by British International Investment (BII), Proparco, and Convergence Partners Digital Infrastructure Fund (CPDIF).

IHS stated that the transaction was valued at approximately 8.3 times adjusted EBITDA. The proceeds are expected to strengthen the company’s balance sheet and support its strategic focus on high-return markets.

Paradigm Tower Ventures’ Expansion in Rwanda

Through this acquisition, Paradigm Tower Ventures gains control of all IHS tower sites in Rwanda. The company has said it intends to continue providing high-quality infrastructure services to mobile network operators in the country, including MTN Rwanda and Airtel Rwanda.

Rwanda’s telecommunications market has continued to grow over the past decade, supported by government policies aimed at expanding coverage and improving digital access. While national 4G coverage is estimated at around 95%, about half of the population currently uses internet services. The acquisition is expected to help maintain and expand the country’s network infrastructure to support these objectives.

Industry Context

IHS Towers’ exit from Rwanda follows a broader pattern of strategic portfolio adjustments among large telecommunications infrastructure providers. Several tower operators have recently consolidated operations to concentrate on key markets where economies of scale can be maximized.

Africa’s telecom tower sector continues to attract long-term infrastructure investors, particularly development finance institutions and private investment funds interested in expanding broadband access and network resilience.

Company Background

IHS Towers, founded in 2001 and headquartered in London, operates more than 40,000 towers across markets including Nigeria, Brazil, South Africa, Cameroon, and Zambia. The company is listed on the New York Stock Exchange (NYSE: IHS).

Paradigm Tower Ventures operates under Paradigm Infrastructure Holdings, a company focused on digital infrastructure investment across Africa. The firm’s investors, including BII and Proparco, support infrastructure projects that promote sustainable development and digital inclusion.