Paradigm Tower Ventures (“Paradigm”), a new sub-Saharan African towers platform, has officially launched its operations by completing the acquisition of IHS Rwanda Limited from IHS Holding Limited. The deal, originally announced in May 2025, transfers ownership of approximately 1,467 tower sites to Paradigm, making it the leading independent tower operator in Rwanda.
The landmark transaction is backed by a consortium of prominent investors, including Convergence Partners, British International Investment (BII), and Proparco. Rand Merchant Bank acted as the mandated lead arranger, sole funder, and financial advisor for the acquisition.
The newly acquired infrastructure supports networks that provide mobile money and other digital services to 5.3 million Rwandans. The move is expected to enhance connectivity, lower the cost of cellular services, and accelerate digital inclusion across the country.
Rwanda’s stable operating environment and clear long-term digital vision have made it an attractive base for scalable infrastructure platforms. Paradigm’s entry signals strong investor confidence in the nation’s growth trajectory.
“We are delighted to be expanding into the Rwandan market where Paradigm can bring its expertise… to assist in meeting the growing demand for digital based services,” said Stephen Harris, co-founder and chairman of Paradigm. “Our focus is to improve existing infrastructure to be more efficient and environmentally friendly, alongside facilitating the improvement of mobile network coverage and connectivity.”
Beyond this initial investment, Paradigm aims to build and operate more carrier-neutral tower assets, with a vision to expand its footprint across the continent.
Andile Ngcaba, Founder and Chairman of Convergence Partners, described the investment as a critical enabler for the future. “As this platform grows, we see it serving as a critical enabler supporting the expansion of data, cloud and emerging AI-driven services that will define the next decade of infrastructure investment across the Continent.”
Abhinav Sinha, Managing Director at BII, added, “Our investment in Paradigm reflects our commitment to bridging the digital divide in Rwanda and across Africa. By enabling affordable, high-quality connectivity, we’re helping unlock opportunities for millions.”
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