Despite having over US$350-million at hand to finance its expansion plans for Africa, telecommunications tower infrastructure company, Helios Towers, has announced that it cannot go ahead with the investment in the light of the ongoing global COVID-19 pandemic that has also hit telecoms markets in Africa. Helios Towers CEO Kash Pandya said the current environment...
Helios Towers’ plans to expand following last year’s London share sale may have been waylaid by the coronavirus outbreak, but the Africa-focused company has US$350-million (R6.6-billion) primed and ready for when deal-making can resume. The telecommunications firm raised funds in an initial public offering in October, with the proceeds earmarked to fund an entry into new...
MTN’s plan to reduce borrowings through asset sales may be hampered by debt at its IHS telecoms tower business. The company said at the end of January that its seeking to raise $4b by selling assets including stakes in IHS and in its Nigerian unit. MTN has already raised about $950mn by selling non-strategic businesses...
The mobile operator Telkom has been ordered by the Kenyan Communications Authority (CA) to settle the commercial dispute between it and Eaton Towers. The telecom tower manager claims to pay Telkom an invoice for the use of its facilities in the supply of its telecom services during the period from September to November 2019. The...
Telecommunications tower manager Helios Towers is very interested in the Ethiopian telecom market, which is opening its doors to foreign investors. The company estimates that over the next three to five years, the business should be profitable in light of the need for telecom towers to extend network coverage across the country. Helios Towers, which estimates...
MTN Group Ltd. is in advanced talks to sell stakes in tower assets in Ghana and Uganda worth as much as 8 billion rand ($534 million) as Africa’s largest wireless carrier looks to accelerate a broader disposal plan. The South African company is looking to exit joint ventures with American Tower Corp., which expanded on...
Atlas Tower is selling its South African tower portfolio to shareholder SBA Communications for R2-billion. The US company will dispose of more than 900 towers in South Africa to SBA, Atlas CEO Nathan Foster said in an interview in Johannesburg. The agreed price takes account of previous investments made by the buyer into Atlas’s business, he...
Reuni in the Council of Ministers on 18 October 2019, the Government of the Republic of Niger has approved the acquisition of all the shares of the telecom tower manager Eaton Towers Niger SA, a subsidiary of Eaton Towers Holding Ltd, by its global competitor American Tower Corporation. This approval resulted in the draft decree transferring...
EFG Hermes, a financial services corporation in Frontier Emerging Markets, has concluded advisory to Helios Towers, a telecom tower infrastructure company in Sub-Saharan Africa, on its £288m ($367.18) initial public offering (IPO) on the London Stock Exchange (LSE). EFG Hermes, a financial services corporation in Frontier Emerging Markets, has concluded advisory to Helios Towers, a...
The Nigerian Communications Commission (NCC) said it will dismantle 693 unused telecommunications towers across the country, if owners do not comply with an ultimatum. The regulator claims these towers have been abandoned and it has given owners 90 days to ‘rehabilitate, commence usage or dismantle and remove’ the infrastructure. Whilst the Commission said Nigeria needs...
