Helios Towers enters South African market with Vulatel partnership

Helios Towers Plc entered the South African market by forming a partnership with Vulatel Pty Ltd. to build out wireless and fixed-line infrastructure in the country.

Helios Towers expects South Africa to lead the way on 5G rollout in sub-Saharan Africa, it said in a statement on Monday.

Establishing a towers business in South Africa could help pave the way for a long-planned initial public offering, after the U.K. company and two African rivals were forced to abandon share-sale plans last year.

Helios and its peers are desperate to raise cash for expansion across Africa countries, where the emergence of 5G networks and accelerating broadband take up presents a growth opportunity.

South Africa is one of the more stable of those markets, and Helios suspects that there may be opportunities…

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