Firm acquires IHS Rwanda towers

RWANDA: PARADIGM Tower Ventures, a sub-Saharan African towers platform, has completed its maiden investment with the acquisition of IHS Rwanda Limited from IHS Holding Limited marking a strategic entry into the region’s growing digital infrastructure market.

Rand Merchant Bank, a division of FirstRand Bank Limited, acted as the mandated lead arranger, sole funder and financial advisor to Paradigm Tower Ventures.

The Co-founder and Chairman of Paradigm, Stephen Harris said: “We’re excited to enter the Rwandan market and apply our expertise in shared digital infrastructure to support the growing demand for digital services. Our focus is on enhancing infrastructure efficiency, sustainability and expanding mobile network coverage.” The initiative is supported by a consortium of investors, including Convergence Partners, British International Investment and Proparco.

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The transaction transfers ownership of approximately 1,467 tower sites in Rwanda to Paradigm, positioning it as the country’s leading independent tower operator.

These sites support networks that provide over 5.3 million Rwandans with access to mobile money and digital services. Studies show a 10 per cent increase in mobile penetration can boost GDP per capita by 2.5 per cent in African markets.

The Founder and Chairman of Convergence Partners, Andile Ngcaba said: “This investment brings together strong partners and solid fundamentals to create longterm value across Africa. “We’re proud to back Paradigm’s experienced team as the platform scales to support data, cloud and AI-driven services shaping the next decade of digital infrastructure.”

The Managing Director at BII, Abhinav Sinha said: “Our investment in Paradigm supports bridging Africa’s digital divide by enabling affordable, quality connectivity, unlocking opportunities for students, small businesses and healthcare workers alike.”

The Deputy CEO of Proparco, Djalal Khimdjee noted: “This investment underscores Proparco’s commitment to expanding digital coverage and inclusion in Africa, and its ongoing support for Convergence as a trusted partner.”