Paradigm Tower Ventures, a newly launched telecom infrastructure platform focused on sub-Saharan Africa, has completed its first major transaction with the acquisition of IHS Rwanda Limited from IHS Holding Ltd. (NYSE: IHS), securing ownership of approximately 1,467 tower sites across Rwanda in a deal valued at $274.5 million.
The transaction, originally announced in May, positions Paradigm as Rwanda’s largest independent tower operator, supporting mobile connectivity for over 5.3 million users. The deal was backed by a consortium of investors including Convergence Partners, British International Investment (BII), and Proparco, with Rand Merchant Bank, a division of FirstRand Bank Ltd., acting as sole funder and financial advisor.
Paradigm’s entry into Rwanda underscores investor confidence in the country’s digital growth trajectory and policy stability. The platform aims to expand its footprint across Africa by investing in carrier-neutral, high-quality tower assets, enabling mobile operators to scale coverage and accelerate digital inclusion.
“This acquisition allows us to bring our operational expertise to Rwanda and support the country’s growing demand for digital services,” said Stephen Harris, Paradigm’s co-founder and chairman. He emphasized the company’s focus on environmentally efficient infrastructure and enhanced mobile network performance.
Andile Ngcaba, chairman of Convergence Partners, described the investment as a strategic alignment of capable partners and sound fundamentals, noting its potential to catalyze data, cloud, and AI-driven services across the continent. BII’s Abhinav Sinha added that the deal reflects a broader commitment to bridging Africa’s digital divide, while Djalal Khimdjee of Proparco highlighted the transaction as a continuation of their support for inclusive digital infrastructure.
Paradigm Tower Ventures was founded by Harris, Hal Hess, and Steven Marshall—veterans of global and African tower businesses—under the Paradigm Infrastructure banner in 2019. The platform is expected to play a pivotal role in shaping Africa’s next-generation telecom landscape.
Leave a comment