Pan African Towers Secures Strategic Investment from DPI and Verod Capital for Growth in Nigeria’s Digital Infrastructure
Pan African Towers (PAT), a leading digital infrastructure company in Nigeria, has announced a strategic investment from Development Partners International (DPI) and Verod Capital. DPI and Verod will invest in PAT to support its growth as Nigeria’s largest homegrown digital infrastructure provider. The investment aims to fuel PAT’s expansion plans and strengthen its position in the telecommunications and tower infrastructure sector. PAT, established in 2017, has played a crucial role in expanding mobile communications in Nigeria, catering to blue-chip customers, including leading mobile network operators and internet service providers.
Key Points:
Investment Details: DPI and Verod Capital are making a strategic investment in Pan African Towers (PAT) to support the company’s growth in Nigeria’s digital infrastructure sector.
PAT Background: Established in 2017, PAT has become a prominent telecommunications and tower infrastructure provider in Nigeria, focusing on tailored, long-term contracts with blue-chip customers.
Growth Plans: The investment aims to fuel PAT’s growth and solidify its position as Nigeria’s largest homegrown digital infrastructure provider.
Demographics and Market Potential: Nigeria’s strong demographics and position as Africa’s leading telecommunications market by the number of mobile subscribers make it an attractive market for digital infrastructure. The investment aims to capitalize on the growing demand for wireless communications.
Investment Focus: The strategic investment from DPI and Verod will support PAT in areas such as market entry, operational efficiency, and talent management. DPI’s experience in scaling towers companies, such as its involvement with Eaton Towers, will be beneficial.
Digital Infrastructure Gap: Nigeria faces a digital infrastructure gap, with a need for an estimated 70,000 to 80,000 towers to enable proper quality and coverage for 4G and 5G technology. PAT aims to address this gap and contribute to the country’s economic development.
ESG Commitments: PAT has a strategic vision to grow sustainably and actively reduce the carbon footprint of its network to uphold best-in-class Environmental, Social, and Governance (ESG) practices.
Strategic Partnerships: DPI and Verod Capital will work closely with PAT’s management to accelerate its strategic plan, deepen relationships with existing partners, expand its customer base, and grow its footprint of towers.
Implications: The investment from DPI and Verod Capital is expected to play a pivotal role in supporting Pan African Towers’ growth plans and addressing the digital infrastructure gap in Nigeria. As Africa continues to experience increased demand for digital services, especially in telecommunications, strategic investments in companies like PAT are crucial for expanding and improving connectivity. The collaboration with experienced investors like DPI and Verod brings additional expertise and resources to PAT, enabling the company to navigate market challenges and capitalize on opportunities in the digital infrastructure space. The investment aligns with broader efforts to enhance telecommunications infrastructure, support economic development, and contribute to sustainability goals in the region.