Airtel Africa progresses tower agreements in Gabon and Chad

Airtel Africa progresses tower agreements in Gabon and Chad

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Airtel Africa has extended its memorandum of understanding (MoU) with Helios Towers and will not be renewing its agreement with the telco in Chad.

The news follows on from agreement entered into by Airtel Africa on 23 March 2021, for the potential sale of its tower assets in Chad and Gabon, to Helios Towers.

This latest update will see both companies extend their MoU in Gabon, with completion of the sale still subject to Helios Towers obtaining a passive infrastructure licence.

While in Chad, the MoU agreement relating to tower assets expired on 24 February 2022. Both parties have mutually agreed that this would not be renewed, no details on this decision have been given.

In related news, January saw Airtel Africa completed the first closing of the transaction to sell its telecoms tower assets in Tanzania for $176.1 million

The aforementioned sale is to a joint venture company (the Purchaser) owned by a wholly owned subsidiary of SBA Communications Corporation, as majority owner, and by Paradigm Infrastructure Limited.

Under the terms of the transaction, Airtel Africa’s subsidiary in Tanzania will continue to develop, maintain and operate its equipment on the towers under separate lease arrangements, largely made in local currencies, with the Purchaser.

At the end of 2021, the company also reported a 25.2% growth in revenue with double digit growth across all operating regions, for its half year results. For the second quarter, reported revenue growth came in at 20.3%.

Its customer base grew by 5.4% to reach 122.7 million, with increased penetration across data and mobile money. The former saw growth of 10.9%, while the latter recorded an increase of 19%. 

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