Pan African Towers partners DPI, Verod Capital for growth

Pan African Towers, a key player in the Nigerian telecommunications market, has recently announced a significant strategic investment from Development Partners International (DPI) and Verod Capital. This investment is positioned to propel Pan African Towers into its next phase of growth, with a focus on accelerating innovation and expansion within the Nigerian market. Azeez Amida, the CEO of Pan African Towers, shared insights on the partnership and the company's strategic vision moving forward. In a recent interview with CNBC Africa, Azeez highlighted the importance of the investment from DPI and Verod Capital, emphasizing that the partnership was crucial to drive the company's growth strategy. He acknowledged the support from previous shareholders but noted that this new investment would serve as a catalyst for the company's evolution into a more competitive position within the telecom sector. Azeez underscored Nigeria's appeal as a robust market for digital infrastructure in Africa, citing the favorable regulatory environment and the country's large population as key factors driving investment interest. He commended the efforts of the Nigerian Communications Commission (NCC) in fostering a conducive business landscape, signaling a promising outlook for stakeholders and investors. One of the focal points of Pan African Towers' strategy is capitalizing on the increasing demand for telecom infrastructure in Nigeria. With ambitions to bridge the gap between existing industry leaders, Azeez outlined plans to substantially expand the company's tower portfolio and tenant base over the next few years. He expressed confidence in leveraging the partnership with DPI to enhance operational capacity and cater to the evolving needs of mobile network operators (MNOs). Looking ahead, Azeez detailed the company's intentions to intensify its tower rollout initiatives, explore acquisition opportunities, and collaborate with industry players to optimize service delivery. While Nigeria remains Pan African Towers' primary market, the company remains open to exploring expansion opportunities across the continent in the future. In assessing the market landscape, Azeez articulated a positive outlook for the sector, emphasizing the sector's potential contributions to Nigeria's GDP and highlighting upcoming technological advancements such as 5G deployment. He reiterated the importance of regulatory engagement and policy evolution to sustain industry growth and relevance. When probed about the most exciting aspect of the Nigerian market, Azeez emphasized the country's technological advancement and population size as key drivers of opportunity for telecom firms. He stressed the company's pivotal role in enabling connectivity across various sectors of the economy, positioning Pan African Towers as a critical infrastructure provider. In conclusion, the partnership between DPI, Verod Capital, and Pan African Towers signifies a significant milestone for the company's expansion efforts in the Nigerian telecom market. With a strategic roadmap in place and a commitment to driving operational excellence, Pan African Towers is poised to capitalize on emerging opportunities and contribute to the digital transformation of Nigeria's telecommunications sector.