Read this article to learn:
- Details of Africa’s independent towercos
- The footprints of Africa’s leading MNOs and their attitudes towards tower divestments and infrastructure sharing
- An introduction to some of the most credible current and prospective investors in African towers
- Key ESCOs managing tower power in Africa
The 6th Annual TowerXchange Meetup Africa takes place this October, bringing together the most influential stakeholders in the continent’s passive infrastructure supply chain, from leading towercos such as IHS, Eaton and Helios to key MNOs including MTN, Vodacom and Orange.
In preparation for the Meetup TowerXchange takes a deep dive into the African tower industry, providing the most comprehensive directory to date of the key MNOs, towercos, infracos, investors and ESCOs active in the market.
9mobile: Nigerian MNO, formerly known as Etisalat Nigeria which was rebranded following a takeover by a consortium of banks after defaulting on loan repayments. The operator is in the process of being acquired with Teleology Holdings the confirmed buyer.
African Infrastructure Investment Managers: Joint venture between Macquarie and Old Mutual with capital at work in IHS
African Towers: Ghanaian towerco which owns 150 macro towers with plans to add about 50 new sites in the next 12 months. The company has also deployed DAS at arond 50 sites, including in major airports in the country
Africell: African MNO with a presence in the DRC, Uganda, Sierra Leone and Gambia (being market leaders in the latter two). The company took over Orange’s operations in Uganda, where Orange had previously sold their towers to Eaton. To roll out their network in the DRC, Africell built few towers, choosing instead to co-locate on Helios’ existing portfolio.
African Mobile Networks: Rural towerco with an interesting business model that combines active and passive infrastructure, with AMN funding the capex and sharing revenue for sites. AMN has deployed networks in six countries and is the process of deploying in a further nine countries in sub-Saharan Africa.
Airtel: African subsidiary of Indian operator, Bharti Airtel with a presence in 15 African countries and having sold towers in ten of these (figure 1). The company has sold towers to each of the big four African towercos, divesting their portfolios to Helios in the DRC and Congo B, to American Tower in Nigeria, to IHS in Rwanda and Zambia and to Eaton in Burkina Faso, Ghana, Niger, Kenya and Uganda.
The operator has twice agreed the sale of their Tanzanian towers, firstly to Helios and then to American Tower, however both deals were cancelled. The MNO now retains towers in five markets, namely Tanzania, Chad, Madagascar, Malawi and Gabon. In the latter, Airtel has signed a deal with Energy Vision, whereby Energy Vision will take over the management of cell site power systems through an ESCO agreement. Whilst Airtel had examined the ESCO model for its other opcos, the economics on offer were not favourable to the operator and so Airtel has abandoned further ESCO plans, favouring renewal of their managed service contracts instead.
Figure 1: Airtel’s tower ownership and transactions across its 15 African markets
Aktivco: Camusat’s ESCO which has signed an ESCO agreement with Millicom in Chad and with Orange in Niger and Burkina Faso. The ESCO is understood to have signed a fourth as yet undisclosed contract and now manages power on 1800 sites in four countries.
Albright Capital Management: Chaired by former US Secretary of State Madeleine Albright, Albright is an investor and advisory firm dedicated to the emerging markets and an investor in Helios Towers Africa.
Al Karama Towers: Newly formed Senegalese towerco, backed by M&A Capital, in the process of acquiring Expresso Telecom’s 550 sites in the country (up from 450 sites at the time of the deal’s announcement). The sale and leaseback transaction also includes first right of refusal on new build for Expresso. Al Karama Towers has an appetite for further towers in Senegal and has plans to expand into further West African markets, having entered high level discussions with MNOs in at least two other countries.
American Tower: The world’s largest independent towerco with a global tower count over 150,000. The towerco has completed five tower transactions of scale in sub-Saharan Africa, with the acquisition of Telkom Kenya’s 723 sites marking a sixth deal which is expected to close in the second half of 2018 (figure 2). In Africa, American Tower currently has 10,919 towers across four markets (Q1, 2018), with the Kenya transaction adding a fifth market to their portfolio (figure 3).
The company continues to undertake new build across its markets and whilst figures separating new build from small scale acquisitions and decommissioning activities are not available, the net increase in American Tower’s African portfolio was 277 sites in 2017. One can take this as a rough proxy for the number of new towers built.
The company has begun to explore opportunities and business models beyond macrosites in Africa, reporting 23 owned DAS sites in Ghana (Q4, 2017) and having recently formed a partnership with fibre player, Frogfoot in South Africa, leasing capacity to communications and internet service providers as well as third party operators.
Figure 2: American Tower’s major acquisitions in Africa
Figure 3: American Tower’s sub-Saharan African portfolio
ANTOSC: Angola’s first towerco in which managed service provider Anglobal has a 35% share. The towerco was formed in response to new legislation introduced in 2016, preventing new towers being built in close proximity to existing sites and thus mandating MNOs to share infrastructure in order to expand their networks. ANTOSC expect to have a portfolio of about 30 sites by Q3 2018 with the addition of 70 sites currently forecast for 2019. The towerco is targeting 400 sites in the next three years.
Atlas Tower: South Africa’s fastest growing towerco with a portfolio of over 500 sites in the country. The towerco, with operations also in the US, has recently expanded into both Namibia and Botswana, with ambitions to further extend their footprint to new geographies during the course of 2018. Watch this space!
BCTek Engineering: Nigerian towerco with a 20 year contract to manage and market a portfolio of 700 towers originally built as a surveillance network, over 80% of which are police compounds.
Blackstone: Serial towerco investor currently working with Phoenix Tower International in CALA. Blackstone has previously evaluated investment opportunities in one of Africa’s privately owned towercos.
Blue Sky Towers: Privately owned towerco with a portfolio of 60 sites in South Africa, with 15 additional sites expected to come online by Q4’17. Part of Merlin Project Services, an MSP which has been operating in the country for 18 years
Capital Group Private Markets: Private equity fund focus on emerging markets with a diverse portfolio. Major shareholder in Eaton Towers
The Carlyle Group: Private equity and alternative asset management firm with money at work in Indonesian towers. Yet to invest in Africa.
Cell C: South African operator who monetised their towers back in 2010 with a sale to American Tower. Cell C maximised upfront capital in their deal with the towerco in order to raise capital for rollout and to grab market share, but in doing so agreed a high leaseback rate which the company has been unhappy with. Cell C have since made their decision to rebuild their portfolio, agreeing a build-operate-transfer arrangement with Proef Group’s International Tower Corporation and using sites of other smaller towercos.
Citi: One of the world’s leading tower transaction advisory groups can be found in the TMT team at Citi.
Coast to Coast: One of South Africa’s smaller independent towercos with a portfolio of 38 towers.
Comco: Small South African towerco
Communication Towers Nigeria: Nigerian towerco which claims to have 500 cell sites across all 36 states.
Connect Africa: Company focussed on bringing connectivity to rural areas in Africa. Most recently Connect Africa has deployed a series of Wi-Fi hotspots in rural areas across Zambia. These base stations costs less than $10,000 and are partly funded by advertising. Connect Africa has over 200 sites deployed successfully with three operators.
Convergence Partners: Firm focussed on early-stage investments in the African TMT sector. Had looked at an investment in the tower industry a few years ago.
CSquared: Pan-African fibreco with a footprint in Uganda, Ghana and Liberia and an appetite for geographical expansion
Delta Partners: Leading TMT consultant and investment advisory company with extensive global expertise in the tower industry.
Development Partners International: Private equity fund focussed on Africa with money at work in Eaton Towers.
Digital Bridge: Infrastructure firm involved in the acquisition, funding and management of firms in the infrastructure sector such as Mexico Tower Partners, Vertical Bridge, Andean Tower Partners, ExteNet Systems, DataBank and Vantage Data Centres. Digital Bridge recently formed a joint venture, Digital Colony, with Colony Northstar (a leading real estate management firm) to invest in towers, data centres, small cell networks and fibre. Whilst the company is yet to make an investment in Africa, Digital Bridge and Digital Colony have a global outlook.
Distributed Power Africa: Econet’s in-house ESCO which is also offering solar power solutions to sectors beyond telecoms
Eagle Towers: Private towerco with a portfolio of 50 towers in South Africa.
Eaton Towers: Africa’s fourth largest towerco with a portfolio of 5,000 sites across Burkina Faso, Ghana, Kenya, Niger and Uganda (see figure 4) having acquired sites from Airtel (in all five countries) Orange and Warid in Uganda and entered into a MLL arrangement with Vodafone in Ghana (see figure 5). In 2013, the towerco entered into an MLL arrangement with Telkom Kenya, but the arrangement was cancelled nine months later. Eaton had built a successful portfolio of 300 towers (and a pipeline of 1,000 further sites) in South Africa before the opco was sold to American Tower. Eaton’s investors are known to be looking for an exit, with the company having conducted preparations for, but not formally announced their intent to IPO.
Figure 4: Eaton Towers’ African portfolio
Figure 5: Eaton Towers’ history of major tower acquisitions
Econet: Major TMT conglomerate which is Zimbabwe’s largest operator, with a footprint also in Burundi and Lesotho. The company had considered the formation of an internal towerco, although plans are yet to move forward. Econet has recently formed their own in-house ESCO, Distributed Power Africa which not only intends to supply power to their towers but is also providing solar power to other commercial and industrial sectors in Zimbabwe. Econet is also the parent company of pan-African fibreco, Liquid Telecom.
Eighty Four Dynamics: Newly formed Zimbabwean towerco whose sister company has over eight years experience constructing tower sites for the major operators in Zimbabwe.
Emerging Capital Partners: Private equity fund focussed on Africa; investors in IHS.
Energy Vision: Pioneers of the ESCO model in sub-Saharan Africa, having signed the continent’s first ESCO contract of scale with Airtel Gabon, based on a fixed energy business model with a nine year term. Energy Vision has now taken on all 280 allocated sites in Gabon, successfully delivering against a 99.99% uptime service level agreement (12 month average). The company has also been awarded responsibility for management of all passive elements of the sites including towers, fences and structures. Energy Vision is technology agnostic with an appetite for further ESCO projects in the country.
Ethos Private Equity: Private equity firm with money at work in Eaton Towers since May 2015.
Expresso Telecom: Tier two MNO Expresso with a footprint in Sudan, Ghana, Guinea, Mauritania and Senegal has agreed their first tower sale, announcing a SLB agreement with Al Karama Towers for their 550 towers in Senegal. The deal is expected to close in H2 2018.
Figure 6: Estimated tower count of Expresso Telecom
FMO: Dutch development bank 51% government owned, 49% by commercial banks and financial institutions. Have invested in African towercos.
Frogfoot: South African licensed open access fibre network provider in (funded by Rand Merchant Bank, Investec and Metier Capital) which has signed a partnership agreement with American Tower in the country.
Gabon Telecom: See Maroc Telecom
Globacom: Operator with a footprint in Nigeria, Ghana and Cote d’Ivoire which has shied away from infrastructure sharing and tower deals in spite of the presence of towercos in its home markets.
GreenWish Partners: ESCO which has signed an ESCO contract with Orange in the DRC, with Sagemcom as operational partners
Gyro Towers: South African MNO Telkom’s new carve out towerco
Hardiman Telecommunications: A unique consultancy equally capable advising on engineering and operational issues as they are on commercial strategy and corporate finance. Extensive experience advising on both the buy-side and sell-side in tower transactions.
Helios Investment Partners: Investment firm making private equity investments in Africa, with a primary focus on the sub-Saharan region. Helios’ portfolio companies operate in 35 African countries across a range of industry sectors, with telecom infrastructure and services playing an important part. Founder investors in Helios Towers and previous investors in HTN Towers (prior to the towerco’s sale to IHS).
Helios Towers: Africa’s third largest towerco, the company completed its first major tower transaction in 2010, acquiring 750 towers from Tigo in Ghana and have since completed five further major tower transactions establishing a footprint in Congo Brazzaville, the DRC and Tanzania (figure 7). The first towerco to enter each of its jurisdictions, the company remains the sole towerco in the latter three markets and possesses a strong urban presence in Ghana where it competes with American Tower and Eaton Towers. The company now owns a total of 6,485 towers across the four countries (figure 8), having added build-to-suit towers and smaller bolt-on acquisitions to its portfolio. In 2018, the towerco has plans to enter the South Africa market as part of plans to expand its business beyond macrosites; fibre is expected to be a key part of Helios’ strategy. In 2018 the company announced plans to IPO but cancelled the process a few weeks later.
Figure 7: A history of Helios Towers’ major tower transactions
Figure 8: Helios Towers’ African portfolio
Hotspot Network: Nigerian towerco which build a network of 160 sites through build to suit contracts with Airtel and Etisalat. The towerco recently sold 85 of its towers to IHS.
HTN Towers: One of the first towercos in Africa, HTN Towers (formerly Helios Towers Nigeria) built a portfolio of 1,211 towers in Nigeria before being acquired by IHS Towers in 2016. HTN Towers also signed a management with license to lease contract with SWAP Telecoms & Technologies which was transferred to IHS upon IHS’ acquisition of the towerco. The contract is understood to have since been cancelled.
IHS Towers: Towerco with the largest African portfolio, totaling 22,860 towers across Cote d’Ivoire, Cameroon, Zambia, Rwanda and Nigeria (figure 10), with over 60% of its towers in the latter. The towerco has completed transactions with Airtel (Rwanda & Zambia), Etisalat (Nigeria), Orange (MLL arrangement in Cameroon and Cote d’Ivoire) and MTN (in all five countries); in 2016 IHS also acquired rival Nigerian towerco HTN Towers and their 1,211 sites (figure 9). In addition to its tower portfolio, IHS has a license to deploy fibre in Nigeria.
Outside of Africa, the towerco has recently expanded into the Middle Eastern market reaching a deal to acquire Zain’s Kuwaiti sites and entering exclusive negotiations with the operator in Saudi Arabia.
Privately owned, IHS’ investors include MTN with a 29% stake, Wendel and the IFC. IHS is understood to be gearing up for an IPO within the next 12 months.
Figure 9: A history of IHS Towers’ major tower transactions in Africa
Figure 10: IHS Towers’ African tower portfolio
Infratel: Rural infraco in the DRC whose equipment is on 800 cell sites.
International Finance Corporation (IFC): The IFC is a member of the World Bank Group, the world’s leading DFI. The IFC has invested around half a billion dollars in debt and equity into eight towercos across emerging markets and is an investor in IHS.
International Tower Corporation: Part of Proef Group, South African towerco which is working with Cell C to rebuild their tower portfolio under a build-operate-transfer model
Intrepid Advisory Partners: Advisory firm established by Daniel Lee which advised on 11 of the first 13 tower deals to close in Africa.
IPT PowerTech: Telecom ESCO which participated in IHS’ ‘Big Five’ project in Nigeria and recently signed an ESCO contract with Orange in Guinea. Further deals are expected from this ambitious ESCO.
Lap GreenN: Operator who has tried to monetise towers in Uganda but has been hindered by trading restrictions placed on the Libyan owned parent. The company also has a presence in Sierra Leone and South Sudan.
Liquid Telecom: Pan-African fibreco which is part of the Econet Group. Liquid Telecom also owns Africa Data Centres which has data centres in South Africa and Kenya.
Macquarie Group: Serial towerco investors, with capital at work in Arqiva, Russian Towers, Axicom (formerly Crown Castle Australia), Mexico Tower Partners and Viom Networks (now part of ATC India). Macquarie also has an excellent TMT advisory practice with experience of advising on tower transactions.
Maroc Telecom: Moroccan headquartered MNO in which Etisalat has a 53% stake. Has expressed little interest in divesting their towers to date and remains conservative in regards to infrastructure sharing. In addition to their presence in Morocco, Maroc Telecom has strong West African presence, having opcos in nine African countries (figure 11) where it operates under the brands Moov (Benin, Central African Republic, Cote d’Ivoire, Niger, Togo), Onatel (Burkina Faso) Sotelma (Mali) Mauritel (Mauritania) and Gabon Telecom (Gabon).
Figure 11: Maroc Telecom’s African presence
Mauritel: See Maroc Telecom
mCel: Mozambican state owned MNO. In a bid to reduce long standing debts, the company appointed Barclays to oversee a sale of its ~1,000 towers but the deal stalled following limited interest from towercos. The government has since announced the planned merger of mCel with fixed-line incumbent TDM, in a bid to transform the loss-making entities into a single, more profitable unit.
Millicom/ Tigo: Millicom undertook the first pioneering tower transactions with Helios Towers in Ghana, DRC and Tanzania from 2010-11, but the group hasn’t done a SSA tower deal since. Millicom owns, and is in the process of selling, the 24% stake it acquired in Helios Towers following the transactions.
The operator has recently sold opcos in Senegal (to a consortium involving NJJ, Sofima and Teyliom Group) and Rwanda (to Airtel) after having previously sold its DRC operations to Orange back in 2016. Airtel recently merged their Ghanaian operations with Airtel.
In Chad, Millicom has signed its first agreement with an ESCO, handing over management of power on its sites to Camusat’s Aktivco. In Tanzania the company has recently entered into a RANsharing agreement with the two other MNOs to increase coverage in rural areas. Rumours have emerged that Millicom may look to sell its two remaining African opcos, with Econet understood to have an expressed an interest in at least one of them.
Figure 12: Millicom’s African tower deals, ESCO contracts and opco sales
Moov: See Maroc Telecom
MTN: MTN, with a presence in 17 African countries, has monetised their towers in seven – representing the majority of their most attractive portfolios. The company has raised around US$2.5bn to date and retained equity in selected markets. MTN commenced their passive infrastructure monetisation strategy in 2010-11 with the formation of joint venture towercos with American Tower in Ghana and Uganda, in which MTN retained 49% equity. This was then followed up with sale and leasebacks of 100% of the equity in their towers in Cameroon, Côte d’Ivoire, Rwanda and Zambia – this time with IHS as the counterparty. In Nigeria, MTN formed a joint venture with IHS in which it retained a non-controlling 51% stake. In February 2017, MTN exchanged its 51% stake in the joint venture for additional shareholding at IHS group level, taking its equity stake in IHS Holdings from 15% to 29% and simplifying its ownership structure in the process.
MTN’s most significant portfolio they retain in Africa is South Africa where the operator has approximately 9,000 towers (the company’s Iranian opco, MTN-Irancell also has a portfolio of 13,000 towers in Iran). Beyond this, MTN’s smaller portfolios are yet to attract the interest of towercos and the operator is reportedly considering the ESCO model in such markets to rid themselves of the main operational complexity of managing the towers.
Figure 13: MTN’s history of tower sales
Oceanic Infrastructure: Kenyan towerco
Onatel: See Maroc Telecom
Orange: Orange has a presence in 14 Sub-Saharan African markets but has only entered into tower deals in three, signing an MLL arrangement with IHS Towers in Cameroon and Cote d’Ivoire and selling 300 towers to Eaton in Uganda (before then selling their opco to Africell). With towercos present however in a total of six of their markets, Orange does lease space from independent towercos, whilst also sharing sites with operators.
Orange has been a pioneer of the ESCO model in Sub-Saharan Africa and has signed contracts in the DRC (with GreenWish Partners and Sagemcom as their operational partner) in Niger and Burkina Faso (with Camusat’s Aktivco) and in Guinea (with IPT PowerTech). The operator has also confirmed that it has issued ESCO RFPs in Madagascar, Cote d’Ivoire and Egypt but further ESCO RFPs are expected in other markets.
Figure 14: Orange’s tower ownership and ESCO contracts in Africa
Figure 15: Breakdown of Orange’s tower ownership and site usage in Sub-Saharan Africa (Q1 2018)
Pan African Towers: Newly formed West African focussed towerco whose business model is predicated on leases being denominated in local currency
PowerCom: PowerCom, owned by MNO Telecom Namibia, is Namibia’s first dedicated infrastructure player. Managing a portfolio of 300 towers, the company has ambitions to integrate further assets into its portfolio
Pro High Site Communications: South African towerco with a portfolio of eleven towers.
Pula Towers: Botswana’s first towerco which has a focus on both macro towers and in building solutions.
RIT Capital Partners: Chaired by Lord Rothschild, RIT Capital Partners is an investment trust, listed on the London Stock Exchange with a widely diversified portfolio, including an investment in Helios Towers.
Safaricom: Kenyan MNO, possessing Vodacom as a shareholder, dominates the Kenyan mobile market. Whilst the company considers its towers too strategic to sell, Safaricom has for some time been swapping or leasing their tower portfolio, by far Kenya’s largest and most extensive, to MNOs and other tenants. The company has recently begun offering power as a service to its tenants.
SEALTowers: Start-up Kenyan towerco focussed on low cost compact tower site solutions and hybrid power innovations. Expect to have 500 sites built by Q3 2018
SENTECH: South African broadcast towerco with a portfolio of 340 sites
Sky Coverage: South African towerco with an undisclosed tower count
Smile: LTE pioneer, Smile, with a presence in major cities in the DRC, Nigeria, Tanzania and Uganda rely primarily on co-location on third party towers in order to rollout their network.
Sonatel: See Orange
Soros: Quantum Strategic Partners (QSP) is a private investment vehicle, managed by Soros Fund Management LLC. QSP focuses globally on investments in several strategies, including capital-intensive start-ups, buyouts, and growth equity transactions. Investors in Helios Towers.
Sotelma: See Maroc Telecom
SWAP Telecoms & Technologies: Another claimant to the title of Africa’s first towerco, Nigerian towerco SWAP acquired the towers of Multilinks’ CDMA competitor Starcomms back in 2010. After the loss of their anchor tenant, SWAP struggled to generate revenues and after speculation over a merger between competitor towerco, HTN Towers and SWAP, the two reached an agreement whereby HTN would manage, market and lease space on the SWAP towers. This agreement was passed on to IHS Towers following their acquisition of HTN Towers, with 368 of their 702 understood to be live. It has been reported that IHS has since given notice to tenants on a number of SWAP towers with a view to decommissioning sites and moving tenants onto existing IHS owned sites.
Telkom Kenya: Kenyan operator which recently agreed the sale of its 723 towers to American Tower. The operator had previously entered into a management with license to lease agreement with Eaton Towers back in 2013, only for the deal to be cancelled nine months later. Rumours had been circulating that third placed Telkom Kenya and second place Kenyan operator, Airtel were considering a merger in the market to create a sizeable competitor to market leaders Safaricom. Merger talks now appear to be off.
Telkom South Africa: South African MNO with under 5% mobile market share in the country (Q4, 2017). Telkom had an on/off tower sale but in 2017 announced the formation of their own towerco, Gyro Towers to maximise the profitability of their sites.
Tigo: See Millicom
Tilmann Global Holdings: Investor with broad appetite for towerco investments anywhere from early stage opportunities (where the company has been involved in build to suit programs with Eaton Towers in Africa and Apollo Towers in Myanmar) to sale and leasebacks in mature markets of thousands of sites.
TowerCo of Madagascar (TOM): The only towerco in Madagascar, Towerco of Madagascar (TOM) have a portfolio of over 1000 sites in the country (Q1 2018).
The company is part of the Axion Group of companies, owned by Hassanein Hiridjee, which also includes TELMA (the number one operator in Madagascar) and EDM, the national electricity company. TOM has further extended its presence into the Indian Ocean managing towers from the Axion Group after the group acquired the mobile branch of Outremer Telecom in La Reunion and Mayotte and the second mobile license in Comoros.
The company is extensively reviewing alternative energy options, including the pilot of a wind project in Madagascar.
Unitel: Largest of Angola’s MNOs with two thirds of the market share in the country and a portfolio of 1,700 sites.
Viettel: Africa’s most aggressive new entrant, Vietnamese military backed Viettel had initially seemed reluctant to accelerate time to market by leveraging co-location. However they have since reached co-location agreements with IHS in Cameroon (where they operate as Nexttel) and Helios Towers in Tanzania (where they operate as Halotel), the latter of whom attracted ~1,000 co-locations. The company also has a footprint in Mozambique (Movitel) and Burundi (Lumitel). Viettel had expressed an interest in the Nigerian market and was previously linked to the 9mobile sale.
Vodacom/ Vodafone: Multinational MNO with a presence in South Africa, Tanzania, the Democratic Republic of Congo, Mozambique and Lesotho and a controlling stake in Safaricom in Kenya. (In North Africa, Vodafone has a presence in Egypt). Apart from an early ‘manage with license to lease’ (MLL) deal in Ghana with Eaton Towers and the sale of 1,149 Tanzanian towers to Helios Towers Africa in 2013 (where Vodacom acquired a 24.5% stake in Helios Towers Tanzania, a stake which Helios has since purchased), Vodacom and its parent company, Vodafone consider their tower assets too strategic to divest. Both Vodacom South Africa and Safaricom run in-house towercos, actively pursuing co-locations on their existing sites.
Figure 16: Vodacom’s African footprint and history of tower sales
Voltalia: Major energy player offering an ESCO solution to the telecom sector. Voltalia has signed an ESCO contract with Myanmar towerco, MNTI and has an appetite for projects in the African market.
Wendel: Family fund, leading investor in IHS.
Who have we missed?
Advance apologies: we’re bound to have missed one or two key stakeholders in African towers – if so we’d like to know as we’re on a mission to assemble everyone at the 6th Annual TowerXchange Meetup Africa being held on 9-10 October 2018 in Johannesburg!
If you feel your company should be profiled in the TowerXchange who’s who in African towers, please email Laura Graves, Managing Director, EMEA, TowerXchange, at: firstname.lastname@example.org