Helios Towers said that it has signed an agreement to acquire a controlling interest in SA Towers and fund its future roll-out. This follows the establishment of its partnership with Vulatel, announced on 14 January. SA Towers was launched in 2016 by South African entrepreneurs Rico Marx and Harm Kelderman, backed by Africa Property Partners (APP), a real estate private investment business.
The investment will accelerate Helios Towers' entry into South Africa. The group will invest in the platform and provide management expertise to accelerate the conversion of the pipeline. SA Towers' team will integrate into the Helios Towers organisation and manage the day-to-day South African tower operations, applying their knowledge of the market and local customer relationships. HTSA will fund and support the expansion of the pipeline of permitted locations.
