MTN announces sale of mobile network towers to IHS in Rwanda and Zambia
MTN Group Limited announced that it has agreed to sell its tower portfolios in Rwanda and Zambia to IHS . MTN will sell a total of 1,228 mobile network towers to IHS’s subsidiaries in Rwanda and Zambia, comprised of 524 and 704 towers respectively, for undisclosed amounts.
The sale of the towers is in line with MTN’s asset optimisation strategy which is encompassed in MTN’s new strategic framework and builds on two previous deals with IHS in Cameroon and Cote d’lvoire, for a total of 1,758 towers. “In addition to unlocking value in our passive infrastructure, we remain cognizant of the need to contain and efficiently manage our cost structures across the Group as our markets mature and become more competitive.