Home » Ghanaian tycoon Samuel Jonah’s Helios Towers to acquire Airtel Africa assets in Chad and Gabon

Ghanaian tycoon Samuel Jonah’s Helios Towers to acquire Airtel Africa assets in Chad and Gabon

by Omokolade Ajayi

Helios Towers, an Africa-focused independent telecom infrastructure group led by Ghanaian businessman Samuel Jonah, has inked an understanding agreement with Airtel Africa, one of Africa’s largest telecom companies, to facilitate the acquisition of tower assets in Chad and Gabon.

The deal, which is subject to regulatory clearance, passive infrastructure licenses in each country, and other normal closing conditions, is scheduled to conclude in or around the first quarter of 2022.

The anticipated transaction comes roughly four months after the Jonah-led telecom infrastructure business paid $51.7 million for 490 tower sites in Madagascar from Airtel Africa.

Under the leadership of the Ghanaian businessmen, the group operates telecom tower sites in Tanzania, the Democratic Republic of Congo, the Republic of Congo, Ghana, South Africa, Senegal, and now in Madagascar.

In the first nine months of 2021, its sites climbed from 7,222 to 8,765, while revenue increased by skx percent from $307.9 million to $326.8 million, owing to the inclusion of Free Senegal’s tower property and continuing organic tenant growth throughout its markets.

The planned acquisition of the Chad and Gabon tower assets aligns with Helios Towers’ strategic expansion plans, as it moves to scale up its operations through acquisitions that will cement its presence in five new markets throughout Africa and the Middle East in the next 12 months.

Under the strategic expansion plan, the group’s site count is expected to increase from more than 7,300 towers as reported in Q1 2021 to 15,000.

The memorandum of understanding related to the tower assets in Chad ended on Feb. 24, and Airtel Africa and Helios Towers mutually agreed that it would not be renewed.

With respect to the Gabon assets, Airtel Africa and Helios Towers have extended their memorandum of agreement, with completion remaining contingent on Helios Towers acquiring a passive infrastructure license.

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