Tuesday, 26 September 2017

HTN Towers increases portfolio by to 58%

HTN Towers
Friday 28 August 15

HTN Towers, the pioneer of tower infrastructure sharing in Africa, announces it has executed a Managed Services and Co-location Agreement with SWAP Technologies and Telecomms Plc (‘SWAP’). The agreement has secured HTN’s rights to manage up to 702 sites owned by SWAP…

HTN Towers, the pioneer of tower infrastructure sharing in Africa, announces it has executed a Managed Services and Co-location Agreement with SWAP Technologies and Telecomms Plc (‘SWAP’).

The agreement has secured HTN’s rights to manage up to 702 sites owned by SWAP. These sites span Lagos, Abuja and 32 other states in Nigeria.

HTN Towers has commenced operations on the first 100 SWAP sites and will take over management of the remaining sites in a phased manner, pending receipt of customer consents. As the remaining sites are taken over for management, HTN Towers will refurbish them to its standards, with a view to offering such sites for co-location in the future.

HTN Towers will contract directly with SWAP's customers under the terms set forth in its existing customer tenancy agreements and earn additional revenues from co-locating new customers onto the SWAP towers.

Upon completion of the transfer of the towers, HTN Towers will own or manage up to 1,905 towers, an increase of 58% over its current portfolio.

Inder Bajaj, Chief Executive Officer of HTN Towers, said:

“I am delighted to announce our management services agreement with SWAP. The agreement provides the platform to expand the number of towers we manage by up to 58% and increases our coverage across Nigeria. It is also a further vote of confidence in the strength and quality of HTN Towers’ operations and customer service.”

Kesavan Madhavarao, the Acting Group Chief Executive Officer of SWAP, commented:

“SWAP management is excited about the successful consummation of this landmark agreement between SWAP and HTN Towers, which is first of its kind in Nigeria or perhaps in Africa. We are very confident that this relationship will result in enhanced value for both SWAP, HTN Towers as well as for the esteemed customers with enhanced and superior quality of services.”


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