IHS Towers and MTN Group have announced the strengthening of their strategic partnership through the renewal of infrastructure sharing and master lease contracts. Both companies have extended their communications infrastructure deals in Nigeria and completed the renewal of all contracts across IHS Towers-MTN markets.
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Renewal of Contracts
In a joint statement, the companies mentioned that with their commercial relationship now firmly established for the next decade, they will work constructively to resolve previously raised governance issues.
Tenancies Across Six African Markets
On August 7, 2024, the companies revealed their agreement to renew and extend all Nigerian tower Master Lease Agreements until December 2032. With this extension, IHS Towers and MTN Group have completed the renewal of approximately 26,000 MTN tenancies on IHS Towers' infrastructure across six African markets: Nigeria, Rwanda, Cote d'Ivoire, Cameroon, Zambia, and South Africa.
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IHS Towers said, ''As our largest customer and longest-serving partner, we are proud to have completed the renewal of all tenancies with MTN Group in our African markets. Today, we reinforce our strategic relationship and commit to increased operational stability by securing our revenue streams into the next decade and leveraging our shared innovation to deliver critical connectivity and support digital inclusion across the African continent."
Future Plans for Enhanced Connectivity
MTN Group added, "The renewal of the various contracts across our markets into the next decade puts MTN operations in the respective markets onto a more sustainable footing."
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Moving forward, building on over 20 years of commercial partnership, both companies will leverage their shared operational excellence and engineering expertise to meet end users' increasingly sophisticated data demands, the official release said.
