LONDON & CAIRO-Friday 8 October 2021 [ AETOS Wire ]
(BUSINESS WIRE) -- IHS Netherlands EGY B.V. and IHS Netherlands GCC B.V. (together “IHS Towers”) have signed a partnership agreement with Egypt Digital Company for Investment S.A.E. (the largest shareholder of Egypt Towers for Technology Services Company) to obtain a license from the National Telecom Regulatory Authority (“NTRA”) to erect and lease telecom towers in Egypt. On completion, a new company, IHS Telecom Towers Egypt S.A.E., will be formed. The agreement was signed in the presence of Dr. Amr Talaat, Minister of Communications and Information Technology.
IHS Towers will own 80% of IHS Telecom Towers Egypt S.A.E., and Egypt Digital Company for Investment will own the remaining 20%. The new consortium is in the process of becoming licensed by NTRA, the procedures for which are expected to be completed during this week. The partnership aims to meet the needs of the Egyptian market in terms of wireless telecommunications towers, help achieve the national coverage plan and construct new towers in accordance with the work plan and the relevant license requirements. Under the license, up to 5,800 towers will be built during the first three years of the license term. The license also provides the possibility of acquiring wireless telecommunications towers owned by third parties for the purpose of utilizing them to provide the services as specified by the license.
IHS Towers is one of the largest independent owners, operators and developers of shared telecommunications infrastructure in the world by tower count, with more than 30,200 towers across nine markets as of June 30, 2021.
Sam Darwish, IHS Towers Chairman and Chief Executive Officer, said “I am delighted to announce IHS Towers’ partnership with the Egypt Digital Company for Investment to enter the Egyptian telecommunications market. IHS Towers is committed to delivering critical telecommunications infrastructure to the emerging markets, and this partnership is an exciting development as we continue to pursue our strategic growth ambition. With an established presence in five African markets, and two decades of experience operating on the continent, I am confident in our ability to support the rapidly developing Egyptian telecommunications market. By partnering with the Egypt Digital Company for Investment, we intend to leverage their extensive market knowledge and capitalize on our own innovative operating capabilities to facilitate a broad range of telecommunication solutions in Egypt.”
About Egypt Digital Company for Investment
Egypt Digital Company for Investment invests in various digital transformation projects inside Egypt and is the main shareholder in Egypt Towers Company for Technology Services.
About IHS Towers
IHS Towers is one of the largest independent owners, operators and developers of shared telecommunications infrastructure in the world by tower count, with more than 30,200 towers across nine markets as of June 30, 2021. IHS Towers continues to grow and develop its existing positions and offerings in Brazil, Colombia, Peru, Cameroon, Côte d’Ivoire, Nigeria, Rwanda, Zambia and Kuwait. For more information on the company, please visit the company’s website www.ihstowers.com.
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