The case for MNOs to retain “schmuck equity” in towerco joint ventures
TowerXchange is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

The case for MNOs to retain “schmuck equity” in towerco joint ventures

schmuck-equity21.png

MTN retains a 51% stake in Nigerian towers, 49% in Ghana and Uganda

The African independent towerco business model seems to be working. More and more towers are transferring from MNOs to towercos, more and more tenants are being added to towers. As 2G voice networks are overlaid with 3G and even 4G data networks, anchor tenants are starting to add second antennas to selected towers, generating amendment revenue. BTS programmes are yielding organic growth (and even better tenancy ratios). Efficiency programmes are reducing opex costs. It’s looking like betting on African towercos might pay dividends. So I thought I’d have a look at the bet MNOs are making on African towercos by retaining equity in joint ventures.


UNLOCK THIS ARTICLE

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Subscribe Login
Gift this article