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Helios Towers Intent on Expanding to Ethiopia

Helios Towers is considering a move into Ethiopia's telecom market, the companies CFO Tom Greenwold told Bloomberg. The CFO said Ethiopia is "a highly attractive market" to Helios to the extent that it had already approached possible partners to discuss a move into the market."

Having has newly earmarked $450 million in funding for expansion, and is bent on increasing its investments in Africa.

Following Ethiopia's announcements to liberalize its so far monopolized telecom sector, Greenwold estimates as many as 10,000 new towers might be required in the Ethiopian market. This, he says, is a "very large opportunity" for Helios.

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.

Helios Towers had expressed its interest to enter the Ethiopian market in December 2019.


Source: Bloomberg