Helios Towers Africa announces plans for ICT investment in Tanzania
22 August 2011
A new ICT investment scheme has been planned for Tanzania over the next five years, it has been revealed.
According to reports from Bloomberg, Helios Towers Africa, a telecommunications tower builder and operator, is set to provide funding worth $100 million (£60.6 million).
It aims to expand its network of towers in the country and has already held talks with operators such as Vodacom Tanzania and Zantel.
The investment follows the $130 million the company spent on the purchase of 1,180 telecommunications towers in Tanzania in December 2010.
Chief executive officer of Helios Towers Africa Charles Green went on to tell the news source that five investors "committed $375 million for investments by Helios in sub-Saharan African markets with $180 million having been spent so far".
Earlier in the month, the firm announced it has been granted the first licence by the Tanzania Communications Regulatory Authority to independently operate a network of telecoms towers in Tanzania, with the shared infrastructure aiming to boost service coverage in rural communities.