Misr El Raqameya partners with IHS Towers on massive telecoms project
The government’s digitization arm, Misr El Raqameya holding, has signed a partnership agreement with African Mobile mast operator IHS Towers to obtain a license from the National Telecommunications Regulatory Authority to set up and lease mobile phone towers, cabinet said in a statement. The joint venture, branded IHS Telecom Towers Egypt, will be 20% owned by Masr El Rakameya and 80% by IHS Towers. It aims to build 6k towers throughout the country over the coming three years. The license would also allow for the acquisition and operation of existing mobile phone towers.
IHS Towers is the largest independent mobile towers operator in Africa. It is currently eyeing a New York Stock Exchange listing that is looking at a valuation of upwards of USD 7 bn, which would make it the largest US listing by an African company, the Financial Times reports.