Helios Towers Plc has announced plans to build 1,000 telecommunication towers in South Africa in the next three years as it tries to capitalize on rapid growth in mobile services and shape up for an initial public offering.
The company operates cellphone towers in countries including Ghana, Tanzania and the Democratic Republic of Congo.
It entered South Africa last month by striking a local partnership and buying an independent tower operator, giving it a foothold in a country expected to lead sub-Saharan Africa in rolling out faster, fifth-generation networks.
Chief Executive Officer Kash Pandya said Helios will look to acquire more towers from carriers such as MTN Group Ltd. and Vodacom Group Ltd. The country has around 30,000 towers in all, with only about 10 percent of those run by independent companies.