IHS Holding Limited, a global leader in shared telecommunications infrastructure, has finalized the sale of its Rwandan subsidiary, IHS Rwanda Limited, to Paradigm Tower Ventures for $274.5 million, concluding a strategic divestment first announced in May 2025.
The transaction involves the full transfer of 100% of IHS Rwanda’s operations, which includes approximately 1,467 telecommunications tower sites. The acquisition was executed through Paradigm’s investment vehicle, Paradigm Infrastructure Holdings (PIH), in collaboration with a consortium of development-focused investors: Convergence Partners Digital Infrastructure Fund (CPDIF), British International Investment (BII), and PROPARCO, the French development finance institution.
The sale is part of IHS Towers’ broader portfolio optimization strategy, aimed at enhancing shareholder value by focusing on high-growth markets and streamlining operations. JPMorgan acted as the financial advisor to IHS on the transaction.
Sam Darwish, Chairman and CEO of IHS Towers, said:
This agreement was carefully considered as part of our strategic initiatives to create shareholder value. It also highlights the intrinsic value of our Rwandan operations within our broader portfolio.
Paradigm Tower Ventures, which specializes in telecom infrastructure in emerging markets, views Rwanda as a high-potential growth market amid rising demand for shared wireless infrastructure.
Stephen Harris, Co-founder of Paradigm, said:
The Paradigm team is excited to build a customer-centric business that delivers secure, high-quality infrastructure to mobile network operators in Rwanda.
The transaction adds momentum to Africa’s rapidly evolving digital infrastructure landscape. Development finance-backed investors such as BII and PROPARCO are increasingly active in the region, supporting initiatives that expand mobile connectivity and data access in underserved markets.
For IHS, the divestment reflects a strategic shift toward larger, more scalable markets across Africa, Latin America, and the Middle East, while also contributing to debt reduction and capital reallocation.
