Nigeria

Telecom infrastructure: The big opportunity for tower companies in Africa

  • Telcos are moving towards asset-light models through sale and leaseback agreements of mobile towers with tower companies

  • Still many opportunities for tower companies given low mobile penetration, significant coverage gap and 5G rollout

  • Ethiopia is a great prospect for tower companies if restrictions loosen, alongside Democratic Republic of Congo and Chad

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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

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