Tuesday, December 1, 2009

Pan-African Tower Company Formed

­A new pan-African tower investor has been formed, based on an existing model being used in Nigeria. Helios Towers Africa (HTA) is being backed by group of investors including Soros Strategic Partners, RIT Capital Partners and Lord Rothschild's family interests, Albright Capital Management, and funds advised by Helios Investment Partners.

The new company has an initial equity commitment of $350 million upon launch.
HTA will build and maintain telecommunications towers and lease space on those towers to wireless telecommunications services providers across Africa. The company will execute a business plan that has been successfully deployed in Nigeria by Helios Towers Nigeria, which was also formed by HTA's lead sponsor, Helios Investment Partners. Helios Towers Nigeria recently secured a $250 million IFC-led investment to increase its Nigerian network to 2,000 tower sites nationwide.
The company will continue to focus its own operations on the Nigerian market where opportunities remain significant.
With the launch of HTA's operations across Africa, operators will be able to outsource non-core activities and passive infrastructure, allowing them to focus capital and managerial resources on improving their core products and services.

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