Admaius Capital Partners, an Africa-focused private equity investor based in Kigali, Rwanda, announced a majority equity investment into TRES Infrastructure Limited, the only local licensed tower owner, and developer of shared telecommunications infrastructure in Rwanda, according to Inside Towers Intelligence. TRES leases its towers to multinational mobile network operators, MTN and Airtel, and other local network service providers such as KT Rwanda Networks.
Admaius’ investment and support will enable TRES to expand its tower portfolio locally in line with the country’s target to achieve more than 95 percent geographical coverage over the next few years, coupled with the roll-out of 4G and 5G network across the country. In an email, Admaius advised Inside Towers that TRES plans to build more than 1,000 towers over the next 3 years. This infrastructure expansion is expected to improve network affordability and connectivity in both rural and urban areas.
According to Admaius, the telecom towers infrastructure market in Rwanda is characterized by strong and resilient demand. Growth is underpinned by the country’s growing population, the increasing number of mobile subscribers complemented by a steady SIM-card penetration rate, and the general adoption of services by new subscribers through the increase in multi-SIM adoption.
“Admaius Capital Partners’ investment has come at the right moment,” comments Venuste Twagiramungu, TRES Infrastructure CEO. “With their expertise in fund management, they are bringing not only the financial backing that we need but also their organizational capabilities that will transform TRES into a true corporate. From this exciting journey we are expecting no less than a fast expansion and a true contribution to the Rwandan objective of more than 95 percent geographical coverage.”
Marlon Chigwende, Admaius Managing Partner adds, “We are excited to be investing in Rwanda, one of the fastest growing markets in Africa. GDP growth has been strong, sustainable, and relatively broad based. Our investment in TRES will help to expand network coverage to rural parts of Rwanda, as well as aid the rollout of 4G, and ultimately 5G over time. In addition to capital, we are bringing experienced towers experts to support in strengthening the Tres business.”
Admaius Capital Partners is an African investment manager currently managing in excess of $280 million through its Virunga Africa Fund 1. All of the Admaius’ team are African and have significant experience in Africa.
By John Celentano, Inside Towers Business Editor
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