BMI View: We expect that at least one Sub-Saharan African tower company will list in 2018, with Eaton Towers, Helios Towers and IHS Towers likeliest to announce an initial public offering (IPO) before long. Cash injections would give the newly listed company or companies the impetus to scale-up in existing markets or more aggressively pursue acquisitions in new markets.
Prospective investors will need to consider each player’s financial and organisational strengths and weaknesses. They must also consider the long term stability of each company’s operational foundations, with the fundamentals of the markets within their existing footprint key to understanding how likely they are to deliver attractive returns on investment.
