Paradigm Infrastructure has announced the launch of its new Sub-Saharan African tower platform, Paradigm Tower Ventures, and the agreement by the platform to acquire 100% of the equity shareholding in IHS Rwanda Limited (“IHS Rwanda”) for an enterprise value of $274.5 million. IHS Rwanda owns 1,465 passive wireless infrastructure sites in Rwanda. The acquisition is anticipated to close in the second half of 2025 and is subject to customary closing conditions, including government and regulatory approvals.
Paradigm Infrastructure was founded by Stephen Harris, Hal Hess and Steven Marshall, well respected and experienced former executives of global and African tower businesses including American Tower Corporation. Paradigm Infrastructure owns 30% of Minara Tanzania, that operates approximately 1,800 sites that provide shared infrastructure services to the leading mobile network operators in Tanzania. The acquisition of 100% of the equity in IHS Rwanda will mark the first investment by Paradigm’s new Sub-Saharan African tower platform, Paradigm Tower Ventures which is focused on the growth of new build shared wireless infrastructure in Sub–Saharan Africa. Paradigm is backed by a consortium of equity and debt finance providers, including Convergence Partners and Rand Merchant Bank, a division of FirstRand Bank Limited, who acted as mandated lead arranger, sole funder and financial advisor to Paradigm Tower Ventures.
Stephen Harris (Co-founder and Chairman of Paradigm) said: “Rwanda represents an exciting market with high demand for shared wireless infrastructure. The Paradigm team is very much looking forward to building a strong customer focused business, providing high quality and secure infrastructure to mobile network operators.”
Sam Darwish, Chairman & CEO, IHS Towers, commented: “The agreement to sell our Rwanda operations to Paradigm Tower Ventures was carefully considered as part of our strategic initiatives targeted at shareholder value-creation options and highlights the value of our Rwanda operations within our wider portfolio. We have enjoyed more than 10 years of commercial success in Rwanda. We are deeply appreciative to our colleagues and customers, in addition to the Government of Rwanda for its exemplary and investor supportive framework, who have all helped make IHS Rwanda the success it is today.”