IHS Towers has formed a 80-20 joint venture with Egypt Digital Company for Investment S.A.E. to obtain a license from the National Telecom Regulatory Authority (NTRA) to build and lease telecom towers in Egypt.
IHS Towers will own 80 percent of IHS Telecom Towers Egypt S.A.E., and Egypt Digital Company for Investment will own the remaining 20 percent.
Egypt Digital Company for Investment S.A.E. is the largest shareholder of Egypt Towers for Technology Services Company.
The JV company is in the process of becoming licensed by NTRA. 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.
IHS Towers has more than 30,200 towers across nine markets as of June 30, 2021.
IHS Towers CEO Sam Darwish said: “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.”
