LONDON & JOHANNESBURG–(BUSINESS WIRE)–Following the announcement final week that IHS Holding Restricted (NYSE: IHS) (IHS Towers or the Firm) and MTN Group (JSE: MTN) had renewed and prolonged communications infrastructure offers in Nigeria, in addition to finishing the renewal of all contracts throughout IHS Towers-MTN markets lately, the businesses stated on Tuesday that with the business relationship now firmly established for the following decade, they may now work constructively to discover a mutually agreeable decision to governance points beforehand raised.
On 7 August 2024, the businesses introduced the settlement to resume and lengthen all Nigerian tower Grasp Lease Agreements till December 2032. The contracts embrace new monetary phrases that present what the events imagine to be a extra sustainable cut up between native and international forex. With this, IHS Towers and MTN Group have now accomplished the renewal of roughly 26,000 MTN tenancies on IHS Towers infrastructure throughout six African markets “ Nigeria, Rwanda, Côte d’Ivoire, Cameroon, Zambia and South Africa.
MTN Group owns roughly 26% in IHS Towers, a stake which pre-dates the tower firm’s itemizing on the New York Inventory Alternate in 2021.
Sam Darwish, Chairman & CEO, IHS Towers, stated, As our largest buyer and longest serving companion, we’re proud to have accomplished the renewal of all tenancies with MTN Group in our African markets. As we speak, we reinforce our strategic relationship and decide to elevated operational stability, by securing our income streams into the following decade, and leveraging our shared innovation to ship essential connectivity and assist digital inclusion throughout the African continent. We’re excited by the following section of our business partnership and welcome the chance to work constructively for the good thing about the tip person.
MTN Group President and CEO Ralph Mupita stated: The renewal of the assorted contracts throughout our markets into the following decade put MTN operations within the respective markets onto a extra sustainable footing. We stay targeted on guaranteeing our networks are nicely invested, have excessive availability and have the headroom to fulfill the rising and structural demand for knowledge going into the long run. These renewals are key to these priorities. We sit up for working constructively with IHS on the excellent governance points now that business preparations have been concluded.
Constructing on their 20+ 12 months relationship as business companions, each firms will leverage their shared operational excellence and engineering experience to fulfill the tip customers’ more and more subtle knowledge calls for. Collectively, IHS Towers and MTN Group have a observe report of navigating advanced working environments and difficult macroeconomic situations to ship connectivity essential to financial progress and digital inclusion.
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About IHS Towers: IHS Towers is without doubt one of the largest unbiased homeowners, operators and builders of shared communications infrastructure on the earth by tower rely and is solely targeted on the rising markets. The Firm has over 40,000 towers throughout its 10 markets, together with Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Kuwait, Nigeria, Rwanda, South Africa and Zambia. For extra info, please e-mail: communications@ihstowers.com or go to: www.ihstowers.com
In regards to the MTN Group: Launched in 1994, the MTN Group is a number one digital operator with a transparent imaginative and prescient to guide the supply of a daring new digital world to our prospects. We’re impressed by our perception that everybody deserves the advantages of a contemporary linked life. The MTN Group, which this 12 months celebrates its thirtieth anniversary, is listed on the JSE Securities Alternate in South Africa below the share code ˜MTN’. Our technique is Ambition 2025: Main digital options for Africa’s progress. For extra info, please contact: MTNGroup.PressOffice@mtn.com or go to www.mtn.com
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Giles Bethule / Akash Lodh
FGS International
Giles.Bethule@fgsglobal.com / Akash.Lodh@fgsglobal.com
+44 207 251 38 01
Supply: IHS Towers
