Bharti Airtel's African arm completes $176 mn tower sale deal in Tanzania

Bharti Airtel’s African arm has completed the first part of its $176 million telecom tower sale deal in Tanzania. The sale is part of its overall deleveraging strategy, which netted over $800 million through fund raise and asset sales in 2021.

Airtel Africa’s tower assets in Tanzania have been acquired by a joint venture company owned by SBA Communications Corporation and Paradigm Infrastructure Ltd.

Under the terms of the transaction, Airtel’s business unit in Tanzania will continue to develop, maintain and operate its equipment on the towers under separate lease agreements.

“With the first closing approximately $159 million of the proceeds of the