Madagascar

Madagascar overview

Rosette with number 1 Leading independent towerco

Situated off the coast of southern Africa, Madagascar is the fourth largest island in the world. Around 60% of the island’s population are under 25, representing the backbone of future demand for mobile communications.

The mobile penetration rate remains below the average for the African region at 37% and mobile connections are expected to grow by 6% annually over the next five years.

We set foot in the market following the acquisition of Airtel Africa’s passive infrastructure company in November 2021, and as the only independent towerco in this market, we look forward to supporting MNOs to expand their networks more efficiently and cost-effectively.

Our customers

Orange Telma

Macro overview

45%

Mobile penetration(1)

Mobile connections CAGR(2)

Population CAGR(3)

Our KPIs – FY 2025 Overview

679

Sites

897

Tenants

1.32x

Tenancy ratio

Regional Contact

Helios Towers Madagascar

Madagascar Towers SA,
Immeuble S, Lot II 1 AA Morarano Alarobia,
Antananarivo,
Madagascar

^{(1) GSMA Database, accessed March 2026. Refers to 2025 mobile penetration.}
^{(2) FTI Consulting, PoS report March 2026. Refers to growth between 2025 and 2030.}
^{(3) FTI Consulting, PoS report March 2026. Refers to growth between 2025 and 2030.}