More Africa NewsTanzania: Airtel Africa received an initial payment relating to the sale of its 1,400 towers to SBA and Paradigm

January 10, 2022by myles0

The latest strategic sale of telecom towers, initiated six months ago by Airtel Africa, is being finalized. It comes after the sale of the telecom towers in Madagascar, Malawi, Chad and Gabon.

Telecommunications service provider Airtel Africa announced on Wednesday January 5 that it had secured nearly $ 159 million from SBA Communications Corp and Paradigm Infrastructure. The sum represents the first tranche of the $ 176.1 million agreed in June 2021 for the sale of its 1,400 telecom towers.  

Airtel Africa affirmed that after the full divestiture which will occur during the year through the payment of the last tranche, Airtel Tanzania Plc will continue to develop, maintain and operate its equipment on the towers transferred under a contract. separate rental with the purchaser.

The sale of Airtel Africa’s telecom towers in Tanzania is part of the asset reduction program initiated at the start of the year by the Indian telecoms group to raise capital and focus on its main activities for subscribers. . This is also the last strategic sale of telecom towers, after those of Madagascar, Malawi, Chad and Gabon announced last March.

The African branch of Indian telecom group Bharti Airtel said approximately $ 60 million of the proceeds from the divestiture will be invested in network strengthening, development of commercial sales infrastructure in Tanzania. Part of the money will also go to the Tanzanian government.

Source: Agence Ecofin

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