Senegal, the economic hub of West Africa, is one of our new operational market, following the closing of our acquisition of a portfolio of 1,207 towers from Free Senegal in May 2021.
Senegal shares similar characteristics with our existing markets and satisfies all our investment criteria: these include a population of more than ten million and growing; three or more MNOs with competitive market share; a growing economy; and hard currency exposure.
The country’s population, currently around 17 million, is expected to grow at a 3% CAGR 2021-2026. As seen in many countries in Sub-Saharan Africa, Senegal has low mobile penetration of 53%. Senegal is considered an economic hub of West Africa and its currency, the CFA Franc, is pegged to the Euro by the French Central Bank. GDP growth from 2021-2026E is forecast at 6%, which remains significantly above the global average. Following a 5% CAGR from 2013-2020, mobile subscriptions are forecast to grow at a 4% CAGR to 2026, with points of service growing at a 7% CAGR over the same period. This represents over 1,800 incremental new points of service, each of which represents a tenancy opportunity for Helios Towers.
The market supports three players: Free, Orange (Sonatel) and Expresso. All three operators have reasonable market share, creating a stable and competitive operating environment. Helios Towers is the only independent towerco in the market, which provides us with a unique opportunity to work with all three MNOs to support colocation on our existing sites and additional BTS rollout.
HT 2022 KPIs
1,278 Sites 1,348 Tenants 1.05x Tenancy Ratio
|Philippe Loridon||Regional CEO|
|Karim Ndiaye||Managing Director|
|Fatoumata Mbaye||Finance Director|
|Cheikh Dia||Sales & Marketing Director|
|Fatma Dansoko||Head of Human Resources|
|Moussa Traore||Head of Projects|
|Hamidou Keita||Head of Operations|
|Rokhaya Leye||Regional SHEQ Manager|
|Mbaye Sarr||Head of Legal & Regulatory Affairs|
|Mohameth Bao||Head of Performance Engineering|
|Aitou Gueye||Supply Chain Manager|