American tower firm IHS Holdings Ltd has completed the sale of its operations in Rwanda to British firm Paradigm Tower Ventures in a deal estimated at $ 275.5million roughly Rwf 400.5 billion.
The deal marks the end of IHS Towers’ decade long operations not only in Rwanda but also in the region, under a strategic shift in the telecom infrastructure landscape. The transaction was finalized in October 2025, when 1, 467 tower sites across Rwanda were transferred to Paradigm Tower Ventures, and facilities through its investment arm Paradigm Infrastructure Holdings (PIH).
JPMorgan acted as financial advisor to IHS Towers on this transaction and the deal positions Paradigm as Rwanda’s leading independent tower operator, significantly expanding its infrastructure footprint. Stephen Harris, co-founder and chairman of Paradigm, emphasized the company’s commitment to enhancing existing infrastructure to be more efficient and environmentally friendly.
“The focus is on improving mobile network coverage and connectivity, aligning with Rwanda’s broader goals of expanding digital services and mobile money access to its population.
The sale aligns with IHS Towers’ strategy to enhance shareholder value following years of successful operations in East Africa. The company continues to focus on emerging markets, operating over 37,000 towers across seven countries, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Nigeria, South Africa, and Zambia.
For Paradigm, this acquisition represents a significant opportunity to leverage Rwanda’s high demand for shared wireless infrastructure. With over 95% 4G population coverage, the country presents a promising market for expanding digital connectivity, despite current internet access being around 50%.
