Pan African Tower debuts, to promote telecoms
Pan African Tower Limited has begun its West Africa operations in Nigeria, to serve over 70 percent of mobile network operators on the continent.
Its presence will also help to accelerate African strong appetite for broadband penetration, which is a major focus of most African governments in the quest for growth and improvement in Gross Domestic product (GDP).
Africa needs over 100,000 additional towers in the next five years to bridge the current gap in service quality and roll out of 4G LTE and 5G broadband technology.
Already, the company plans to have 35,000 mobile towers within the next five years to bridge this gap.This will be achieved through creative sale, leaseback of tower sites and modern build to suite with Green technology at a very low cost, taking advantage of current advancement in technology and alternative energy solutions.
A Director of the company, Sohail Haider, said this will offer unparalleled value to mobile operators in terms of low lease rate, which are index in local currency to hedge against African currency volatility against dollar.
It will also match most Mobile Network Operators’ revenue currency, which is mostly local and by extension value to telecoms consumers. “With a projected portfolio of 35,000 towers, Pan African Tower will be the biggest tower company on the African continent with a holding company in Seychelles.
“This will be a relief to Mobile Network Operators who are currently operating under high operating cost due to dollar-based lease payment for mobile towers across Africa, from the existing independent tower companies with old technologies and outdated business models.
“It is a welcome development to help Africa accelerate the much needed growth, create healthy competition and deliver value for stake holders most especially telecoms consumers for education, health, agriculture and businesses which is an essential factor in real economic development, poverty reduction and GDP growth,” he said.