Tower firm IHS Holding Limited has reached an agreement to sell its Rwandan unit to Paradigm Tower Ventures.

In an announcement, IHS Towers said Paradigm will acquire its 1,465 tower sites in Rwanda for an enterprise value of $274.5 million.

IHS said it expects the sale of IHS Rwanda Limited to close in the second half of 2025, pending government and regulatory approvals.

The tower infrastructure company didn't give a specific reason for its exit from the market.

“The agreement to sell our Rwanda operations to Paradigm Tower Ventures was carefully considered as part of our strategic initiatives targeted at shareholder value-creation options and highlights the value of our Rwanda operations within our wider portfolio," said Sam Darwish, chairman & CEO, IHS Towers.

IHS has operated in the country for more than 10 years.

“Rwanda represents an exciting market with high demand for shared wireless infrastructure. The Paradigm team is very much looking forward to building a strong customer-focused business providing high quality and secure infrastructure to mobile network operators," added Stephen Harris, co-founder, Paradigm Tower Ventures.

At present, IHS Towers operates more than 39,000 towers across eight emerging markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Nigeria, Rwanda, South Africa, and Zambia.

The company announced in December that it had agreed to sell its 70 percent stake in its Kuwaiti unit, IHS Kuwait Limited, to Zain Group for an estimated $230 million.

Founded in 2019, Paradigm Tower Ventures aims to serve the growth of new build shared wireless infrastructure in Sub–Saharan Africa.