The $274.5 million transaction, initially announced in May 2025, transfers ownership of approximately 1,467 tower sites across the country to Paradigm, establishing it as Rwanda's leading independent tower operator. The sites underpin the mobile networks that connect more than 5.3 million Rwandans to essential services such as mobile money and digital communications.
Backed by a consortium of international investors, including Convergence Partners, British International Investment (BII), and Proparco, Paradigm Tower Ventures aims to enhance connectivity and lower the cost of cellular services across Rwanda and the region. The deal was arranged and financed by Rand Merchant Bank, a division of FirstRand Bank Limited.
Paradigm said the acquisition would help improve network quality and affordability, driving digital inclusion in line with Rwanda's national digital transformation goals. Research indicates that a 10 percent increase in mobile penetration can raise GDP per capita by 2.5 percent in African economies.
Stephen Harris, co-founder and chairman of Paradigm, said the company was 'delighted to be expanding into the Rwandan market,' pledging to improve infrastructure efficiency and sustainability.
"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 said.
Andile Ngcaba, Founder and Chairman of Convergence Partners, said the investment represents 'the kind of opportunity where shared conviction, capable partners and sound fundamentals come together to create lasting value across the Continent.' He added that the platform would serve as 'a critical enabler' for emerging data, cloud, and AI-driven services in Africa.
Abhinav Sinha, Managing Director and Head of Technologies, Telecoms and Sustainable Industrials at BII, said the investment underscores a commitment to bridging Africa's digital divide.
"By enabling affordable, high-quality connectivity, we're helping unlock opportunities for millions, whether it's a student accessing online learning, a small business owner using mobile payments, or a healthcare worker connecting with remote communities,' he stated.
Djalal Khimdjee, Deputy Chief Executive Officer of Proparco, said the transaction reflects the organisation's 'trust and continued support' for Convergence and its mission to expand digital coverage across Africa.
Paradigm's entry into Rwanda reflects investor confidence in the country's stable policy environment and strong demand for connectivity. Beyond this initial acquisition, the company plans to build and operate additional carrier-neutral tower assets, supporting mobile operators in expanding coverage and accelerating digital inclusion across Africa.
Wycliffe Nyamasege
