Helios Towers eyes Ethiopia amid expansion plans

Addis Ababa, June 17, 2020 (FBC) – Speaking to Bloomberg, CEO of Helios Towers, Tom Greenwood said that Ethiopia was a highly attractive market to Helios to the extent that it had already approached possible partners to discuss a move into the market.

Ethiopia’s government has opened up the Ethio Telecom by selling a 40% stake in the operator to foreign investors, as well as putting two new licences up for auction.

Having newly generated $450 million in funding, Helios Towers has underlined its intention to increase its footprint across Africa.

Safaricom recently confirmed its intent to bid for one of these permits.

Greenwood said that the next five years could see as many as 10,000 new towers required in the market, making it a “very large opportunity” for Helios.

In addition to Ethiopia, the company is weighing its options in Egypt, Madagascar and Morocco. At present, Helios owns and operates 7000 sites across Africa, with markets including the Democratic Republic of the Congo, Ghana, Republic of the Congo, South Africa and Tanzania.

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