South Africa based MTN Group has agreed to sell its tower portfolios in Rwanda and Zambia to IHS Holding for an undisclosed amount.
Under the terms of the deal, MTN will sell a total of 1,228 mobile networks towers to IHS's subsidiaries in Rwanda and Zambia, comprised of 524 and 704 towers respectively.
The sale of the towers builds on two previous deals with IHS in Cameroon and Côté d'Ivoire, for a total of 1,758 towers.
Under the agreements, IHS will acquire and operate the towers and related passive infrastructure and will invest in a build-to-suit program to support MTN's future requirements in both countries. MTN Rwanda and MTN Zambia will become the respective anchor tenants on the towers for an initial term of ten years.
IHS will market services on the towers in Rwanda and Zambia, promoting tower sharing and colocation with other users.
The transactions bring the total number of towers in IHS's portfolio to 10,500.
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