Nominate female innovators of the year

Rewarding innovation
Female Innovator of
the Year Award.

Wednesday, Oct 16th

Eaton Towers raises $350mn to expand in Africa

Eaton Towers raises 0mn to expand in Africa.

Leading independent telecoms tower company, Eaton Towers, has announced that it has raised $350 million in new equity resources from existing and new shareholders, to fund expansion and acquisitions across Africa.

According to a statement Capital Group Private Markets, the controlling shareholder of Eaton Towers through its sixth global emerging markets private equity fund, DPI a leading pan-African private equity fund and Eaton Towers management all invested additional equity.

They are joined by new shareholders a consortium led by Ethos Private Equity, a leading South African fund manager with a 30-year track record, and Standard Chartered Private Equity, reads the statement.

“We are very pleased that our existing and new shareholders support our strategy and vision to create a market-leading, independent, pan-African tower company," said Terry Rhodes, chief executive officer of Eaton Towers.

In the statement Eaton also noted that it has signed the first independent tower deal in Egypt, with the purchase, leaseback and management of over 2,000 Mobinil towers.

The agreement with Mobinil, part of the Orange Group, consists of the purchase of approximately 2,000 towers with a 15-year leaseback contract for the operation and maintenance, and additional build out of new sites.

Rhodes stated, "We are delighted to sign the first purchase and leaseback tower deal in Egypt. Egypt is the second largest mobile market in Africa and we will invest over $200 million to provide world-class shared infrastructure to help the Egyptian operators provide better coverage and data services to their customers."

“Once the Mobinil deal and the agreements with Bharti Airtel for six countries signed and announced last September are completed, Eaton Towers will be operational in eight countries, representing the most diversified portfolio of shared infrastructure on the African continent,” Rhodes said.


Westcon-Comstor launches cloud-based communications platform Published on 15 October 2019

Westcon-Comstor Sub-Saharan Africa has announced the availability of CloudCall to provide partners with a cost-effective cloud-based communications environment.

Rwanda's Kagame bemoans country's low smartphone penetration rate Published on 15 October 2019

President vows more action to address issues of cost and quality.

Orange, Global Fund unite to mobilise m-health solutions Published on 10 October 2019

Aim to speed up action against AIDS, tuberculosis and malaria.