Paradigm Tower Ventures, a new sub-Saharan African towers platform, has made its inaugural investment by acquiring IHS Rwanda Limited from IHS Holding Limited. This transaction, first announced in May 2025, establishes Paradigm as Rwanda's leading independent tower operator.

• The acquisition transfers ownership of approximately 1,467 tower sites across Rwanda.
• The consortium backing Paradigm Tower Ventures includes Convergence Partners, British International Investment (BII), and Proparco.
• Rand Merchant Bank acted as mandated lead arranger, sole funder and financial advisor to Paradigm Tower Ventures.
• These tower sites support networks enabling 5.3 million Rwandans to access digital services, with research indicating a 10 percent increase in mobile penetration leads to a 2.5 percent increase in GDP per capita in African geographies.
• Stephen Harris, co-founder and chairman of Paradigm, stated their focus is on improving existing infrastructure to be more efficient and environmentally friendly, while expanding coverage.