The guarantee, outlined in merger documents filed with the U.S. Securities and Exchange Commission on February 18, covers 2,864 employees globally, including those in Nigeria, the company’s largest market.

Under the $2.2 billion deal, IHS Towers would become a wholly owned MTN subsidiary, integrating roughly 39,000 telecom towers across Africa, the Middle East, and Latin America.

The agreement includes maintenance of base salaries, comparable short-term cash incentives, health and welfare benefits, and recognition of prior years of service. Severance arrangements and equity awards will also be honored to ensure a smooth transition.

MTN’s commitment aims to maintain operational stability as two of Africa’s largest telecom infrastructure companies integrate their operations. Regulatory review is ongoing in Nigeria to ensure compliance with local labour laws.

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The acquisition, structured as an all-cash deal, would give MTN full ownership of IHS, one of Africa’s largest independent tower operators, and lead to the delisting of the company as a public entity. MTN already holds a significant minority stake in IHS, which operates tens of thousands of sites across Africa, including Nigeria.

Minister of Communications, Innovation, and Digital Economy Bosun Tijani said the deal will not be treated as a routine corporate transaction. “Given the strategic importance of telecommunications infrastructure to national security, economic growth, financial services, innovation, and social inclusion, the Ministry will undertake a thorough assessment in collaboration with relevant regulators,” he said.

Tijani highlighted that Nigeria’s telecoms sector has shown signs of recovery, with improved profitability and increased investment in infrastructure. “Our objective is to ensure that any market consolidation protects consumers, safeguards investments, and preserves long-term sector sustainability,” he added.

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In a notice to investors on Thursday, MTN said it is in advanced discussions to purchase 75% of IHS Towers, which would make it the majority shareholder in the independent tower company. The telco cautioned that talks are ongoing and that there is no certainty the transaction will be completed, urging shareholders to exercise caution until further disclosures are made.

IHS Towers, founded in Nigeria in 2001, operates about 40,000 towers across Africa, Latin America and the Middle East, making it one of the world’s largest independent providers of shared telecommunications infrastructure. The company is listed on the New York Stock Exchange and has a market capitalisation of about $2.76 billion, with its shares trading at $8.23 on February 5, 2026.

The potential deal underscores MTN’s growing focus on infrastructure control as competition intensifies and network investment costs rise. Like many mobile operators, MTN has historically leased tower space from third-party providers such as IHS, benefiting from the neutral-host model that allows multiple operators to share infrastructure while lowering upfront capital expenditure.

An acquisition would represent a shift away from that model, giving MTN direct ownership of assets critical to network expansion and performance. Analysts say this could reduce long-term operating costs, speed up service deployment, and give MTN greater leverage in rolling out new technologies across its footprint.

The transaction would be particularly significant in Nigeria, IHS’s largest market, which accounted for nearly 59% of the tower company’s revenue in the third quarter of 2025. Bringing those assets under MTN’s control would further entrench the operator’s position in its most important market while tightening the link between network infrastructure and service delivery.

If completed, the deal would rank among the most consequential infrastructure transactions in Africa’s telecoms sector, highlighting a broader trend of operators reassessing the balance between asset-light models and direct ownership in the age of data-heavy, technology-driven networks.

Source: Tech Cabal

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As a platinum sponsor and thought leader, the company underscored the critical role of digital infrastructure in building a prosperous and inclusive Nigeria during the summit, themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030.”

The summit brought together public and private sector leaders to explore strategies for economic transformation, with Vice President Senator Kashim Shettima officially declaring the event open. During his tour of exhibition stands, he commended IHS for its corporate social responsibility initiatives and contributions to expanding broadband access and fostering economic inclusion.

Later that day, IHS hosted a high-level plenary session titled “Smart Growth, Digital Leap”, moderated by technology leader Mrs. Nkemdilim Begho. Executive Vice President and CEO of IHS Nigeria, Mr. Mohamad Darwish, emphasised that digital infrastructure has become the backbone of national productivity, calling for robust public–private collaboration to bridge the country’s digital divide.

Darwish highlighted IHS’s extensive infrastructure footprint, noting that the company operates over 16,000 towers nationwide and manages 15,000 kilometres of fibre network. He reaffirmed the firm’s commitment to sustainable infrastructure, rural connectivity, and digital skills development, stating that infrastructure, innovation, and talent must be treated as core economic drivers.

The panel discussion featured key figures including Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy; Mr. Iyinoluwa Aboyeji, Founder of Future Africa; Mr. Fernando Barros, CFO of I-Systems Brazil; and Mrs. Nneka Enwereji, CEO of Citibank Nigeria. They discussed how Nigeria could leverage digital infrastructure and innovation to drive economic transformation.

Minister Tijani outlined the government’s focus on broadband expansion, AI research, and the 3 Million Technical Talent programme, stressing measurable impact through policy execution. Aboyeji called for the establishment of digital economic zones to serve as innovation testbeds, while Barros drew parallels with Brazil’s data-driven strategies. Enwereji emphasised the need for predictable policy environments and transparent governance to attract long-term investment.

Participants agreed that Nigeria’s digital leap rests on three interconnected pillars — infrastructure, investment, and talent — working within a stable and innovation-friendly policy framework.

On the second day, IHS participated in one of the NES #31 Design Workshops, where working groups developed pilot initiatives on value chain development, data standards, and education, setting clear KPIs to track implementation.

Through its engagement at the summit, IHS Nigeria reinforced its role as a key enabler of national reform and digital transformation. “IHS remains dedicated to building the infrastructure that powers Nigeria’s connected future,” Darwish said. “We believe collaboration between public institutions and private innovators is essential to achieving an inclusive digital economy.”

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