Airtel Africa finalises latest tower sale

Airtel Africa completed the sale of its towers in Malawi to Helios Towers for $54.7 million, with the former’s local unit signing a 12-year lease agreement to continue to use the equipment.

The proposed transaction was originally announced a year ago alongside the sale of similar assets from Airtel Africa’s unit in Madagascar, which was completed in November.

In its statement on the latest deal Helios Towers noted the Malawi buy would add 723 sites to its portfolio and would give it $23 million in revenue in its first full year owning the assets.

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In addition to the two now completed deals the pair inked MoU agreements on the sale of the latter’s towers in Gabon and Chad.

In a statement last month Airtel Africa noted both documents had expired and, although the Gabon one had been renewed, the potential Chad transaction had been abandoned by mutual agreement.

Alongside assets bought from Airtel in Malawi and Madagascar, Helios Towers owns and operates assets in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa and Senegal.