Kigali, Rwanda – Paradigm Tower Ventures (“Paradigm”), a newly launched sub-Saharan African towers platform backed by Convergence Partners, British International Investment (BII), and Proparco, has completed its first investment with the acquisition of IHS Rwanda Limited from IHS Holding Limited (NYSE: IHS).
The deal, originally announced in May 2025, transfers ownership of approximately 1,467 telecom tower sites across Rwanda to Paradigm, positioning the company as the country’s largest independent tower operator. Rand Merchant Bank, a division of FirstRand Bank Limited, acted as mandated lead arranger, sole funder, and financial advisor to Paradigm.
Powering Connectivity for 5.3 Million Rwandans
The acquired tower portfolio underpins mobile networks serving over 5.3 million Rwandans, enabling access to mobile money, e-learning, and digital health services. The investment is expected to enhance network quality, reduce the cost of mobile services, and accelerate digital inclusion.
“Research shows that a 10% increase in mobile penetration can drive a 2.5% rise in GDP per capita across African economies,” said Stephen Harris, Co-Founder and Chairman of Paradigm. “We’re excited to bring our operational expertise to Rwanda and help build more efficient, environmentally friendly infrastructure that supports the country’s digital ambitions.”
Backing Rwanda’s Digital Vision
Rwanda’s stable regulatory environment, clear policy direction, and growing demand for connectivity make it an ideal base for scalable infrastructure platforms. Paradigm’s entry reflects investor confidence in the country’s long-term digital strategy.
“This investment represents the kind of opportunity where shared conviction, capable partners, and sound fundamentals come together to create lasting value across the Continent,” said Andile Ngcaba, Founder and Chairman of Convergence Partners. “We see Paradigm as a critical enabler of the data, cloud, and AI-driven services that will define Africa’s next decade.”
Expanding Across Africa
Beyond Rwanda, Paradigm plans to build, acquire, and operate high-quality, carrier-neutral tower assets across sub-Saharan Africa. The platform aims to support mobile operators in expanding coverage and bridging the digital divide.
“Our investment in Paradigm reflects our commitment to bridging the digital divide in Rwanda and across Africa,” said Abhinav Sinha, Managing Director and Head of Technologies, Telecoms and Sustainable Industrials at BII. “Affordable, high-quality connectivity unlocks opportunities for students, entrepreneurs, and healthcare workers alike.”
Djalal Khimdjee, Deputy CEO of Proparco, added: “This investment underscores our commitment to digital inclusion in Africa and our continued support for Convergence Partners as a long-standing ally in the digital space.”
