Paradigm Tower Ventures boosts Rwanda’s digital future with IHS acquisition

Andile Ngcaba, founder and chairman of Convergence Partners/HANDOUT

Rwanda’s ambition to expand affordable and high-quality digital connectivity has received a major boost after Paradigm Tower Ventures (Paradigm) acquired IHS Rwanda Limited from IHS Holding Limited.

The acquisition marks Paradigm’s first investment since its establishment and transfers ownership of approximately 1,467 tower sites across the country.

The sites support networks that enable around 5.3 million Rwandans to access mobile money and other digital services, positioning Paradigm as Rwanda’s leading independent tower operator.

Stephen Harris, co-founder and chairman of Paradigm./HANDOUT

Rand Merchant Bank acted as the mandated lead arranger, sole funder, and financial advisor to Paradigm Tower Ventures.

Stephen Harris, co-founder and chairman of Paradigm, said the move represents a strong step in supporting Rwanda’s growing demand for digital infrastructure.

“We are delighted to be expanding into the Rwandan market where Paradigm can bring its expertise in the operation and construction of shared digital infrastructure to assist in meeting the growing demand for digital-based services,” he said.

He added that Paradigm’s focus is to improve existing infrastructure while ensuring environmental sustainability. “Our focus is to improve existing infrastructure to be more efficient and environmentally friendly, alongside facilitating the improvement of mobile network coverage and connectivity.”

Rwanda’s stable operating environment, clear policy direction, and long-term digital strategy have made it an attractive destination for infrastructure investment.

Research shows that a 10 per cent increase in mobile penetration can lead to a 2.5 per cent rise in GDP per capita across Africa.

Paradigm’s entry reflects investor confidence in Rwanda’s digital growth trajectory and aligns with the government’s goal of promoting inclusive access to technology.

Beyond this acquisition, Paradigm plans to build, invest in, and operate more high-quality, carrier-neutral tower assets to support mobile operators in expanding network coverage.

Andile Ngcaba, founder and chairman of Convergence Partners, described the deal as a strong example of strategic collaboration.

“This investment represents the kind of opportunity where shared conviction, capable partners, and sound fundamentals come together to create lasting value across the Continent,” he said.

He added that as Paradigm grows, it will “serve as a critical enabler supporting the expansion of data, cloud, and emerging AI-driven services that will define the next decade of infrastructure investment across the Continent.”

Abhinav Sinha, Managing Director and Head of Technologies, Telecoms and Sustainable Industrials at BII, said the investment underscores their mission to bridge the digital divide.

“By enabling affordable, high-quality connectivity, we’re helping unlock opportunities for millions — whether it’s a student accessing online learning, a small business owner using mobile payments, or a healthcare worker connecting with remote communities,” he said.

Proparco’s Deputy Chief Executive Officer, Djalal Khimdjee, echoed the sentiment, noting that the investment reflects the organisation’s dedication to digital inclusion.

“This investment reflects Proparco’s commitment to increase digital coverage and inclusion in Africa as well as its trust and continued support to Convergence as a long-standing partner in the digital space.”

Paradigm Tower Ventures was founded by Stephen Harris, Hal Hess, and Steven Marshall—seasoned executives in African and global tower operations. The company focuses on building shared wireless infrastructure across Sub-Saharan Africa to accelerate digital inclusion.

The transaction not only strengthens Rwanda’s digital backbone but also lays the groundwork for future expansion across the continent, aligning with Africa’s broader push for greater connectivity and economic growth through technology.