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American tower firm takes Sh953m revenue hit on weak shilling
American Tower Corporation CEO Thomas Sonesson before the Senate Committee on Information, Communication and Technology at the County Hall Nairobi on December 1, 2023. PHOTO | COURTESY
The American Tower Corporation (ATC) has revealed that it took a hit of $6 million (Sh956.4 million) from converting its sales in Kenya into US dollars in the nine months to September 2023 due to the depreciation of the Kenyan shilling.
The company through its local subsidiary ATC Kenya owns some 3,645 telecommunications towers in the country which it leases to local mobile network providers.
