Rwanda’s fast-rising digital economy has received a major boost following the entry of Paradigm Tower Ventures, a new sub-Saharan African infrastructure platform that has completed the acquisition of IHS Rwanda Limited from IHS Holding Limited.
The deal, supported by investors Convergence Partners, British International Investment (BII), and Proparco, marks Paradigm’s first investment and reinforces growing confidence in Rwanda’s expanding telecommunications market.
The acquisition, first announced in May 2025, transfers ownership of 1,467 telecom towers across Rwanda to Paradigm, establishing it as the leading independent tower operator in the country.
These towers form the critical network infrastructure connecting more than 5.3 million Rwandans to mobile money services, internet access, and other digital platforms that underpin the nation’s economic transformation.
Stephen Harris, co-founder and chairman of Paradigm Tower Ventures, said the company’s entry into Rwanda represents both a strategic and developmental milestone.
“We are delighted to be expanding into the Rwandan market where Paradigm can bring its expertise in the operation and construction of shared digital infrastructure to assist in meeting the growing demand for digital-based services,” Harris said
“Our focus is to improve existing infrastructure to be more efficient and environmentally friendly, alongside facilitating the improvement of mobile network coverage and connectivity,” he added.
Rwanda has earned a reputation as one of Africa’s most digitally forward economies, driven by strong policy direction, stable governance, and growing consumer demand.
The new acquisition is expected to lower operational costs for mobile operators and expand connectivity across rural and urban areas, helping accelerate digital inclusion.
Research indicates that a 10 percent increase in mobile penetration can raise GDP per capita by up to 2.5 percent, underscoring how telecom investment directly fuels growth.
For Convergence Partners, a private equity firm specializing in digital infrastructure, the move illustrates the value of combining financial capital with technological expertise.
“This investment represents the kind of opportunity where shared conviction, capable partners and sound fundamentals come together to create lasting value across the Continent,” said Andile Ngcaba, founder and chairman of Convergence Partners.
“As this platform grows, we see it serving as a critical enabler supporting the expansion of data, cloud, and AI-driven services that will define the next decade of infrastructure investment across Africa.”
British International Investment echoed similar optimism about the role of connectivity in transforming livelihoods.
“Our investment in Paradigm reflects our commitment to bridging the digital divide in Rwanda and across Africa,” said Abhinav Sinha, BII’s Managing Director and Head of Technologies, Telecoms and Sustainable Industrials.
“By enabling affordable, high-quality connectivity, we’re helping unlock opportunities for millions, from students accessing online learning to small business owners using mobile payments and healthcare workers connecting remote communities.”
Proparco, a French development finance institution and long-standing partner in Africa’s digital ecosystem, emphasized its continued support for expanding digital inclusion.
“This investment reflects Proparco’s commitment to increase digital coverage and inclusion in Africa as well as its trust and continued support to Convergence as a long-standing partner in the digital space,” said Djalal Khimdjee, Proparco’s Deputy Chief Executive Officer.
With Rand Merchant Bank serving as sole funder and financial advisor, the transaction highlights the growing alignment between African capital markets and digital infrastructure expansion.
Paradigm plans to develop new carrier-neutral towers across the continent, enabling mobile operators to share infrastructure, reduce costs, and speed up the rollout of 4G and 5G networks.
As Rwanda advances its Vision 2050 agenda, which places technology and innovation at the heart of national development, Paradigm’s investment becomes a catalyst for inclusive growth.
By improving the quality and affordability of digital access, the company is helping lay the groundwork for a more connected, competitive, and a future-ready country.
The development comes at a time when Rwanda’s Ministry of ICT and Innovation has outlined an urgent need for 840 new connectivity towers over the next three years to expand the country’s total internet coverage from 75 percent to 97 percent.
The Minister of ICT and Innovation, Paula Ingabire, told Parliament earlier this year that Rwanda currently has 1,760 active towers, enabling internet access across 96 percent of inhabited areas. However, to reach the remaining unconnected zones, the total number of towers must grow to at least 2,500.
While the government plans to finance part of this expansion through a fund managed by the Rwanda Utilities Regulatory Authority (RURA), to which telecom companies contribute 2 percent of their annual revenues, available resources can only support the construction of about 60 towers, leaving a significant funding gap.
This has prompted authorities to seek private sector partnerships and new investors capable of accelerating nationwide connectivity.
