IHS Nigeria and Airtel Nigeria have agreed for Airtel Nigeria to acquire 3,950 tenancies over the upcoming five years.
This was disclosed in a statement on IHS Tower’s website earlier this month.
According to the statement, the bulk of these acquisitions are expected in 2024/2025 and the duration of existing tenancies, covering approximately 6,000 tenancies, has been extended until 2031.
This agreement includes 2,500 colocations and incorporates 5G modifications and build-to-suit sites that will be owned and managed by IHS Nigeria.
The statement reads: “IHS Nigeria and related entities, which are subsidiaries of IHS Holding Limited (NYSE: IHS) (“IHS Towers”)…, and Airtel Nigeria, a subsidiary of Airtel Africa Plc (LSE:AAF), … have today announced a commitment for Airtel Nigeria to take 3,950 tenancies over the next five years (with the majority expected over 2024/2025) and extended the term of its existing tenancies covering approximately 6,000 tenancies until December 2031.”
Subscribe to our Telegram channel for the latest updates.
Follow the latest developments with instant alerts on breaking news, top stories, and trending headlines.
The agreement includes 2,500 colocations in addition to 5G amendments and builds to suit sites to be owned and operated by IHS Nigeria
Speaking on the deal, Sam Darwish, the CEO of IHS Towers stated,
“The expansion and renewal of our relationship with Airtel Nigeria is a testament to our continued commitment to serving our customers and the connectivity demands of Africa.
“Airtel Nigeria, as well as Airtel Africa who we serve in other markets in Africa, has been a long-term partner of IHS, and I am delighted that we continue to strengthen our collaboration to help facilitate mobile connectivity in our largest market, supporting our customers in rolling out new sites throughout Nigeria.”
Furthermore, the deal syncs with Airtel Africa’s sustainability strategy unveiled in October 2021 and IHS Towers’ commitment to implementing its Carbon Reduction Roadmap aimed at reducing intensity metrics by 50% by 2030, the two companies have decided to collaborate on new environmentally friendly initiatives across their shared sites in the future.
The deal between two telecoms powerhouse is anticipated to boost mobile connectivity across not just Nigeria but Africa with IHS Towers being the largest telecoms infrastructure provider in Africa and the world.
