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IHS deal: A closer look at the Cameroon and Cote d’Ivoire markets


Congratulations to IHS Africa on their acquisition of 1,758 towers from MTN in Cote d’Ivoire and Cameroon. The cost per tower is US$151.5k in Cote d’Ivoire (US$141m purchase price) and US$173k in Cameroon (US$143m). While one needs to know the lease rate to evaluate the deal properly, industry commentators agree that MTN realized a good price, while IHS Africa have paid a justifiable premium to cement their place among the most credible independent tower companies in Africa. Indeed, this deal makes IHS Africa the largest independent tower company in West Africa with a presence in the four largest economies in the region; Nigeria, Ghana, Cameroon and Cote d’Ivoire.


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