Metier-led deal will help AMN more than double SSA tower footprint

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South African private equity firm Metier has led a group of investors backing Africa Mobile Networks’ (AMN) latest round of funding. The capital has been earmarked to more than double the number of installed mobile network base stations the tower firm operates in sub-Saharan Africa by the end of 2023. Between them, the investors are putting $36 million to work in exchange for a significant minority stake in the business. While the greater part of the investment is fresh equity, $3.5 million is being used to acquire part of the stakes held by some of AMN’s non-institutional early-stage investors.

The deal was led for Metier by Thierry Dalais, one of Metier’s co-founders and the firm’s Executive Chairman, along with his colleague, Trishanta Chetty, a Principal on the firm’s investment team. Both take seats on AMN’s board. The other major investors in the deal are a trio of European DFIs – CDC Group, DEG, and Proparco – as well as MCB Equity Fund, the private equity arm of MCB Group and some additional, unnamed institutional investors.

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