Follow Us on Google Discover![[DEAL] Etisalat, IHS In Nigeria Tower Sale/Leaseback Agreement](https://cdn.nairametrics.com/wp-content/uploads/2015/08/shutterstock_69604435.jpg)
- The Nigerian affiliate of Etisalat has completed the transfer of 555 telecom towers to Africa’s IHS, the second tranche of a sale and leaseback deal announced last year, the Gulf’s biggest telecommunications operator said.
- The deal, for which no financial value was given, is part of Etisalat’s strategy to improve the quality of its network and to accelerate the roll-out of 2G, 3G and 4G coverage in Nigeria, Etisalat said in a statement.
- Following the deal, IHS, the biggest tower company in Africa, will own and manage more than 15,500 of the installations in Nigeria and more than 23,100 in Africa as a whole.
- Last August, Etisalat Nigeria agreed a deal to sell 2,136 of its towers to privately-held IHS and lease them back as part of plans to expand its coverage in Africa’s biggest economy.
- Mobile phone operators have been selling or leasing towers to specialist companies, to reduce building and maintenance, associated with security costs and electricity shortages, as revenue per user falls.
- Source: Business Day
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