Airtel Africa sells tower portfolio in Tanzania for about $175 million

Airtel Africa on Wednesday said it has sold its tower portfolio, which is part of Airtel Tanzania, for about $175 million (Rs 1,279.6 crore).
 
The deal marks the latest strategic divestment of the group’s tower portfolio as it focuses on an asset-light business model and its core subscriber-facing operations, the company said.
 
Airtel Africa is a provider of telecommunications and mobile money services with a presence in 14 countries across the continent.
 
In a statement, Airtel Africa announced “the sale of the tower portfolio belonging to Airtel Tanzania to a joint venture company owned by a wholly-owned