IHS Towers has completed the sale of its Rwandan unit to Paradigm Tower Ventures.

Parent company IHS Holding announced the sale last week, for the sale of 100 percent of IHS Rwanda Limited for $274.5 million.

The sale includes approximately 1,467 sites.

Paradigm has acquired the assets through Paradigm Infrastructure Holdings (PIH) vehicle, as part of a consortium with Convergence Partners Digital Infrastructure Fund L.P, British International Investment PLC, and Société de Promotion et de Participation pour la Coopération Economique S.A.

Paradigm Tower Ventures (PTV) is part of Paradigm Infrastructure, which was founded in 2019. PTV was established as part of plans to push the growth of new build shared wireless infrastructure in Sub–Saharan Africa.

IHS didn’t provide a reason for its exit from the Rwandan market, though the portfolio of towers is just a fraction of the more than 37,000 towers the company operates across several markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Nigeria, South Africa, and Zambia.

Last week, the company signed a deal with Brazilian telco TIM Brasil to build up to 3,000 sites with an initial minimum deployment of 500 sites. They will be distributed across multiple regions of Brazil.