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Africa's TMT expected to attract over US$10-billion in 2019

Africa's TMT expected to attract over US-billion in 2019

Telecommunications, media and technology (TMT) in Africa is expected to generate over US$10-billion in related transactions in 2019.

This is according to investment news provider TMT Finance, which bases its prediction on increasing dealflow across the region and "appetite from global industry and investors."

2019 is expected to be a record year for investment and M&A deals in TMT infrastructure on the continent, according to TMT Finance, with many large deals planned - particularly by telecom infrastructure providers looking to make public flotations to tap into public investment fund appetite and fuel further growth plans.

These include leading regional African digital and mobile telecom infrastructure operators Liquid Telecom, IHS Towers, Eaton Towers and Helios Towers Africa, all of which have been hiring investment banks to arrange for IPOs and are expected to float or consolidate their sector in the next 12 months.

In January 2019 colocation datacentre infrastructure Teraco Data Environments announced that Berkshire Partners LLC, a Boston-based investment firm, has entered into a definitive agreement to acquire a majority stake in the company.

The Permira funds, an existing shareholder, will remain a significant investor.

Teraco said the Permira funds initially backed a Teraco management buyout in December 2014 and in that time the business has multiplied its capacity more than six times.

According to TMT Finance Teraco was reported to be valued at 22 times its 2018 EBITDA of US$40-45-million, "reflecting outstanding growth expectations comparable with European and US datacentre businesses."

The investment news provider added that the sale of the Permira-owned datacenter also attracted interest from global industry players Equinix and Digital Realty in a highly competitive sale and market.

TMT Finance adds that national operators including Towerco of Madagascar and Wananchi of Kenya have also recently hired investment banks for sales, while large regional subsea cable business such as Seacom of South Africa and MainOne of Nigeria are also thought to be weighing up sale and investment options.

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