The fledgling tower industry of MENA
Eaton-MobiNil deal in Egypt could be followed by transactions in KSA, Kuwait and Algeria
April 2015’s announcement of a landmark sale of 2,000 Egyptian towers to Eaton Towers for US$131.15mn may be MENA’s maiden tower transaction, but it will not be the last.
“This is a model that is just being introduced in MENA and Egypt so I believe that people will look at it carefully and if it’s successful I’d expect that it can be replicated,” said Kais Ben Hamida, the CFO who championed MobiNil’s tower sale. “In Egypt itself we have 19,000 towers so there’s certainly potential for replication here and also in other countries in the MENA region.