IHS Sells Rwanda Tower Operations to Paradigm Tower Ventures for $274.5 Million

Kigali, Rwanda ,October 2025-IHS Holding Limited, one of the world’s largest owners and operators of telecommunications tower infrastructure, has sold 100% of its Rwandan operations to Paradigm Tower Ventures in a deal valued at $274.5 million, marking a major shift in Rwanda’s telecommunications infrastructure market.

The transaction, which covers 1,456 towers currently owned by IHS Rwanda, is pending final approval by relevant regulatory authorities and is expected to be completed in the coming days.

According to a statement from IHS Towers’ management, the sale aligns with the company’s broader strategy to optimize its portfolio and enhance shareholder value, focusing on higher-growth markets and asset efficiency. IHS had first announced its intention to divest its Rwandan operations in May 2025, and the completion of the sale marks its full exit from the country.

With this acquisition, Paradigm Tower Ventures becomes the first independent tower investment company in sub-Saharan Africa, positioning itself as a major player in the region’s rapidly expanding digital infrastructure sector.

Backed by prominent financial institutions - including Convergence Partners and Rand Merchant Bank (RMB), a division of FirstRand Bank Limited - Paradigm aims to accelerate the modernization of Rwanda’s telecom infrastructure and expand network capacity.

Stephen Harris, CEO and co-founder of Paradigm, expressed optimism about the acquisition and Rwanda’s investment climate:

“Rwanda is an exciting market, where there is a huge need for infrastructure. Paradigm’s team is ready to build an investment based on providing quality services, and constructing reliable infrastructure for telecommunications companies.”

IHS Holding began its Rwandan operations in 2013, when it acquired MTN Rwandacell Ltd’s tower assets and later took over Rwanda Towers Ltd, a former subsidiary of Airtel Rwanda Ltd. Over the past decade, IHS Rwanda has played a key role in strengthening the country’s mobile coverage and supporting its ICT-driven Vision 2050 strategy.

Industry analysts view this transaction as a significant milestone for both companies - signaling IHS’s ongoing portfolio rationalization across Africa, and Paradigm’s emergence as a regional infrastructure consolidator. The sale also reflects the growing attractiveness of Rwanda’s telecommunications market, driven by digital transformation policies, stable regulation, and rising demand for broadband and mobile services.