Charles Russell Speechlys has advised Metier, a South African private equity fund manager, on a $39m investment into Africa Mobile Networks (AMN).

AMN builds, owns, operates and maintains mobile network infrastructure in Africa, delivering services for the biggest Mobile Network Operators across the continent.

Metier led a consortium of investors including CDC Group (the UK’s development finance institution and impact investor), DEG (Germany's development finance institution), Proparco (the private sector arm of the French Development Agency), Mauritius Commercial Bank’s Equity division and other leading financial institutions and investment managers.

The investment by Metier will be used to fund AMN’s business from the current level of 2,000 towers across 10 countries to over 10,000 towers across more than 18 countries by the end of 2025.

AMN is currently the fifth argest independent tower company operating in Africa, and growing rapidly.

It provides a full turnkey NaaS (Network as a Service”) approach to enable mobile network operators in sub-Saharan Africa to expand their coverage deep into rural areas – with no capital expenditure or operating equipment risk borne by the mobile operators in these remote locations.

Thierry Dalais, Chairman of Metier, said: “The AMN leadership team and its stakeholders have created an exceptional business. Their business is evidence of great entrepreneurship, systems engineering skills, on the ground logistical execution capabilities. Many thanks to Adrian, Matt and the Charles Russell Speechlys team for their support in navigating the legal complexities of this investment towards a successful outcome.”

Adrian Mayer, Corporate Partner and Head of the Africa team at Charles Russell Speechlys, said: “We were delighted to assist Thierry, Trishanta Chetty and the rest of the Metier team on this transaction, who were able to draw on and leverage both our experience of the region and our telecoms sector expertise, for Metier’s benefit. We also wish the AMN team and their enlarged stakeholder group every success as they roll out their exciting growth plans.”

Charles Russell Speechlys team, led by Corporate Partner Adrian Mayer and Corporate Senior Associate Matt Hobbs, and also included James Le Seelleur (Corporate), Megan Paul, Tanya Wilkie (Telecoms/Commercial), Naomi Nettleton (Real Estate), Syma Spanjers (Employment), and Thibaut Caharel and Stephanie Louiset (Paris office).