In a cautionary announcement to investors on February 5, MTN said it is evaluating a proposed offer to acquire minority shares in the New York Stock Exchange-listed IHS, with the potential price expected to be near the towers operator’s last trading value.

No binding agreement has been finalised, and MTN stressed there is no certainty the transaction will be completed.

MTN already holds a significant minority stake in IHS and has a longstanding operational partnership across multiple African markets.

Over the past decade, the telecom operator has sold thousands of passive network sites to IHS through sale-and-leaseback arrangements, including a major portfolio of more than 5,700 towers in South Africa. These deals helped MTN unlock capital tied up in infrastructure while retaining long-term access via master lease agreements.

A successful acquisition would represent a strategic pivot for MTN, effectively bringing tower infrastructure back in-house after years of outsourcing to specialised tower companies. Industry analysts say this could help MTN strengthen network control, reduce long-term leasing costs, and better position itself for accelerating data demand and future 5G rollout efforts.

However, MTN has advised shareholders to exercise caution in trading its securities while discussions are ongoing, warning that any deal could materially impact its share price. If negotiations don’t lead to a transaction, the group said it will continue exploring options to unlock value from its existing IHS investment within its disciplined capital allocation framework.

IHS Towers, founded in Nigeria in 2001, has grown into one of the world’s largest independent owners and operators of shared telecommunications infrastructure, managing tens of thousands of towers across Africa, Latin America and the Middle East, with MTN as a critical anchor customer.

The post MTN Group in Advanced Talks to Acquire 75%, Take Full Control of IHS Towers appeared first on Tech | Business | Economy.

This is even as the firm reaffirmed its commitment to supporting government and stakeholders in building a resilient communication infrastructure landscape.

Mr. Sadisu Jubrin, the director of Administration Operations at IHS, who stated this, called for a holistic and sustainable strategy to safeguard the country’s critical communications infrastructure.

Jubrin noted that legislation alone is not enough to address persistent cases of infrastructure theft and vandalism.

Speaking in Lagos at a stakeholder collaborative event organized by the Nigeria Information Technology Reporters Association (NITRA) and the Association of Licenced Telecoms Operators of Nigeria (ALTON) with the theme: ‘Critical National ICT Infrastructure and Industry Sustainability – Way Forward,’ Jubrin said IHS Nigeria advocates a multi-faceted approach, including public awareness, technological innovation, and strong partnerships with security agencies and local communities.

According to him, IHS Nigeria has strengthened collaboration with the Nigerian Communications Commission (NCC) via a joint national advocacy campaign on radio and digital platforms.

“The campaign educates host communities on vandalism dangers and how damaged infrastructure affects businesses, including access to finance through Point of Sale (PoS) terminals.

“We must empower our communities to become the first line of defence against infrastructure sabotage,” he said.

Jubrin highlighted the importance of helping locals realise how stolen batteries or fibre directly impact their daily lives negatively.

To bolster physical security, IHS Nigeria recently signed a memorandum of understanding with the Nigerian Security and Civil Defence Corps (NSCDC). The partnership aims to improve site surveillance, emergency response, and ensure prosecution of those involved in vandalism.

Jubrin explained that IHS uses remote monitoring and Artificial Intelligence (AI) for real-time surveillance of its infrastructure assets. He said this technology helps detect unauthorised access, predict maintenance needs, and reduce physical site visits.

He also noted that IHS Nigeria has also launched community protection programmes in key areas to protect essential hub sites.

“This initiative instils local ownership and provides employment opportunities for community members,” he said.

Jubrin emphasised that the success of these efforts depends on strong partnerships with key stakeholders.

He revealed that IHS Nigeria has teamed up with G4S to deploy 650 rapid response patrol vehicles nationwide. These vehicles are fitted with communication systems connected directly to the network operations centre for swift incident response.

The IHS representative urged operators, regulators, security agencies, and citizens to act on the recent NCC executive order without delay.

Speaking as a panellist, Associate Director, Government Relations, IHS Towers, Bond Abbe, stressed the importance of collaboration in cutting to the barest minimum, rising cases of vandalism.

According to Abbe, stakeholders, including government, security agencies, towercos (Tower companies) and telcos must come together to fight the menace, stressing that the crisis is becoming a major threat to an efficient telecom sector.

Saying that IHS has never for one day relented in providing security at its over 16, 000 towers and 15,000km of fibre across Nigeria, Abbe said promoting the development of critical national infrastructure remains a major task.

The post IHS: Safeguarding Infrastructure Critical to Nigeria’s Digital Future appeared first on Tech | Business | Economy.

The company’s latest earnings report for 2024 reveals aggressive strategic moves, including long-term lease extensions and a transition in its debt structure to counter market challenges.

In Q4, revenue reached $437.8 million, a 4.2% increase compared to the previous quarter, driven by growth in colocation, lease amendments, and new sites. However, year-on-year revenue decreased by 14.1%, although it surged by 39.3% on an organic basis. 

This organic growth was led by a 9.2% constant currency increase, alongside foreign exchange resets and power indexation, which mitigated a 53.1% non-core decline.   

IHS closed the year with 39,229 towers and 59,343 tenants, showing steady growth in colocation and lease amendments. The company renewed all MTN tower contracts and extended its agreement with Airtel Nigeria, securing 72% of its total revenue under long-term deals. 

Despite a 48.1% surge in organic revenue, overall earnings took a hit due to the Nigerian naira’s 57% devaluation. This currency collapse wiped out an estimated $1.4 billion in revenue value, pushing IHS’s total reported revenue down 19.5% to $1.7 billion. 

The company reported a $1.6 billion net loss for 2024, with part of that tied to unrealized forex losses. However, IHS’s current strategies reveal a focus on long-term stability.

In a bid to reduce exposure to currency risk, IHS raised $1.2 billion through dual-tranche senior notes, using the proceeds to extend debt maturities and convert more liabilities into local currency. It also slashed capital expenditure by 56.3%, prioritizing profitability over expansion.

IHS Towers also focused on reducing risk in its operating model, by restructuring its power management strategy. The company introduced power indexation into its MTN Nigeria contracts and unbundled power services in South Africa. These changes aim to stabilize earnings by reducing exposure to energy price fluctuations.

Commenting on the financial statement, Sam Darwish, IHS Towers Chairman and CEO, said, “We’re reporting a strong performance in the fourth quarter, with our key metrics revenue, Adjusted EBITDA, and ALFCF all ahead of our guidance… We believe we are well placed to leverage our market-leading positions and support growing demand for our critical communications infrastructure.”

In order to enhance shareholder value, IHS Towers completed the disposal of its 70% interest in IHS Kuwait Limited for $230 million.   

The company foresees organic revenue growth of 12% in 2025, banking on increased 5G deployment and higher carrier tariffs in Nigeria to drive profitability.

Nigeria remains both the company’s biggest opportunity and its biggest risk. IHS managed to extract $271 million from the country despite forex restrictions, asserting its financial resilience. 

The post IHS Towers Strengthens Grip on Africa’s Telecom Infrastructure with Airtel, MTN Contract Renewals appeared first on Tech | Business | Economy.

The TowerCo is part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”) group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count.

This technology and innovation center, located in Ilorin, Kwara State, Nigeria, is an initiative of the Kwara State Government, built and equipped in partnership with IHS Nigeria, who are also operationalizing the facility.

Covering a land area of over 13,000 sqm, with seating capacity for over 1,000 users, the Ilorin Innovation Hub is arguably the biggest technology space of its kind in West Africa and considered a masterpiece of functional space and design architecture.

The facility has been designed and built as an ecosystem to help nurture creative talents, drive technological innovations, entrepreneurship, and overall economic growth across Kwara State in particular, and Nigeria in general.

It is aligned with President Tinubu’s Renewed Hope Agenda of investing in the digital economy to stimulate local industries, enhance competitiveness, increase productivity and provide millions of Nigerians with new skills, as well as long-term employment and wealth creation opportunities.

As part of their commitment, IHS Nigeria is working with two program managers, Co-creation Hub (CcHub) and Future Africa, to facilitate the rollout of programs aimed at empowering startups, businesses, and young innovators with the tools to succeed in the digital economy.

CcHub is a leading pan-African creative and innovation ecosystem enabler. They will design and implement sustainable models to help build capacity for innovation, support top innovators and startups in the region, and strengthen the innovation ecosystem, further helping attract and connect key players.

Future Africa is an innovation fund dedicated to supporting founders who are shaping Africa’s future.

They will oversee the implementation of three key programs: Advanced Technical Leadership Training, Corporate Innovation and Accelerator Program; and Ecosystem Development and Mentorship Initiative.

Through the above programs, IHS Nigeria and the Kwara State Government are aiming to help stimulate the growth of the technological ecosystem in Kwara State and across Nigeria.

Together, their vision is that the Ilorin Innovation Hub and its programs will help create over 10,000 direct and indirect jobs in Nigeria, focusing on digital skills, artificial intelligence, agricultural technology, and energy innovation.

This initiative also complements IHS Nigeria’s ongoing partnership with the Federal Ministry of Communications, Innovation and Digital Economy on the Three Million Technical Talent (3MTT) Learning Community, aimed at empowering three million Nigerians with critical digital skills.

In October 2024, the Hub invited young artists from Kwara State and across Nigeria to participate in an Arts Hackathon by submitting art works that resonate with the themes of innovation, creativity, and local community development.

The aim was to showcase the unique relationship between creativity and science. Ten artists, whose works were selected from over 250 entries, each received a cash prize of ₦500,000 and will have their artwork displayed in the Innovation Hub.

Mohamad Darwish, CEO, IHS Nigeria, commented,

“I am extremely proud of IHS Nigeria’s role in developing the Ilorin Innovation Hub. This marks another critical milestone in IHS’ efforts to improve the lives of people in our operating communities by supporting innovation, entrepreneurship, and overall wealth creation in Nigeria.

As Nigeria’s backbone of digital possibilities, and an enabler of mobile connectivity, we believe this hub will create opportunities for millions of Nigerians with brilliant ideas looking for the facilities, training, expertise, mentorship and funding support to turn their ideas into viable businesses. Businesses that will contribute to the overall socioeconomic upliftment of Kwara State, and Nigeria more broadly.

“We are optimistic that this facility will support the rise of additional unicorns in Nigeria in multiple sectors, highlighting the depth and resilience of Nigeria’s talent to compete in the global market, akin to how IHS, as a company with roots in Nigeria, has already demonstrated.”

The post IHS Nigeria Kickoff Programs at Ilorin Innovation Hub ahead of Commissioning appeared first on Tech | Business | Economy.

The most recent NCC statistics revealed that Nigeria had 219 million active mobile subscribers as of mid-2024, with teledensity hitting 101.4%.

It’s no surprise that mobile data usage is rising meteorically, led by 4G and 5G rollouts. But then, even with these statistics, the leadership of CEOs is what will truly determine whether companies thrive or stumble.

As Africa’s telecom market is projected to reach $66.61 billion by 2025, these CEOs face a common threat: tariff review.

The need to review telecoms tariffs has been trending for quite a long time but became more pronounced since President Bola Tinubu moved to Aso Rock in May 2023. 

The reasons are obvious. As Nigeria moves to deepen its digital economy, the need for telecom operators to upgrade their network infrastructure to deliver more data capacity, cannot be over-emphasized. This is key to a sustainable future. 

For close to 12 years, telecom tariffs have remained static despite the dramatic increase in operating expenses, which have surged by over 300% in the last 18 to 24 months alone. 

We suspect that NCC’s hands might be tied in the sense that President Tinubu’s government might not want an ‘immediate upward review of telecom tariffs due to the backlashes from the famous fuel subsidy removal and the electricity tariff increase – including the ‘Band A-D’ discriminatory service provisioning arrangement. 2025 is also crucial for Nigeria’s economy in terms of development and growth. 2026 is a political year preceding the election year – 2027.

But truth be told, Nigeria’s economy will even sink further if telcos pull the plug. 

The President must summon the courage to surmount the pressure to suffocate the telecommunications industry.

It has become essential to realign telecom service pricing structure with economic realities!

Nigeria has ushered in the high-speed 5G era for AI, Cloud computing, Data science applications, and Blockchain era. Nevertheless, more investments are required towards building a more resilient network such that the operators can meet the regulator’s KPIs.

All of these require significant investments which are sourced from the international markets at costs denominated in US Dollars.

In the past three to four years, for instance, the dollar has gone from exchanging for about N500 to over N1,600.

The challenges continue: The Nigerian Communications Commission (NCC) has just authorised the telcos to disconnect nine banks from their USSD platform. Why? These banks have been accused of not paying for services rendered to them by the telcos to the tune of over N200 billion naira.

For the tower companies; a very crucial segment of the market, they are daily faced with issues around fibre cuts, vandalism, inflation and others.

All eyes are on these CEOs. How will the operators continue providing high-quality services and meeting the growing demand for digital connectivity, should the government play down the issue of upward reviews of the tariffs? Tough question, right?

So, Techeconomy presents top 10 telecom CEOs to watch in 2025:

1. Karl Toriola – MTN Nigeria

Under Dr. Karl Toriola’s leadership, MTN has been at the fore of big projects, including the construction of the largest data centre in West Africa and the rollout of 5G services. These initiatives are set to boost the company’s work further in 2025.

The move of MTN into a technology company (Techco) highlights Toriola’s vision for the future, where digital infrastructure and financial inclusion are central to the nation’s economic development. 

His leadership has also led to a focus on affordability, addressing the challenges faced by Nigerians in accessing digital services due to the high cost of connectivity. 

Added to these, Toriola’s recognition as a Fellow of the Nigerian Academy of Engineering in March 2024 speaks volumes about his standing in the industry. This accolade, alongside the launch of a $50 million education initiative aimed at bolstering Nigeria’s STEM education, further shows his focus on societal advancement. 

Karl Toriola, the CEO of MTN Nigeria, was recognized last year when Obafemi Awolowo University (OAU) awarded him an honorary doctorate during the university’s 48th Convocation Ceremony. 

This honor, conferred on Toriola alongside other distinguished individuals, reiterated his huge impact on Nigeria’s telecommunications and technological sector. 

Toriola’s efforts to create a more inclusive digital economy, combined with his long-standing career in telecoms, have placed him among the top telecom CEOs to watch in 2025.

2. Dinesh Balsingh – Airtel Nigeria

Dinesh Balsingh was appointed CEO of Airtel Nigeria, has already made a huge impact in his short tenure since taking the reins in November 2024. Having previously served as the CEO of Airtel Tanzania, Balsingh brought a wealth of experience and strategic insight to Airtel Nigeria. 

His leadership has already garnered recognition, with the company winning two awards at the Lagos Public Relations Industry Gala and Awards (LaPRIGA) for its environmental initiatives and internal communication excellence. These early successes tell us about Balsingh’s goal of corporate social responsibility and building a strong internal culture within Airtel Nigeria.

Balsingh’s vision for Airtel Nigeria focuses on expanding digital inclusivity and ensuring sustainable growth. He has emphasized the importance of delivering quality services while overcoming the challenges of high costs of operations. His leadership is seen in his approach to tariff adjustments, where he has advocated for necessary price increases to maintain the long-term sustainability of the telecom sector. 

Even with a prospective impact on consumers, Balsingh has promised that these adjustments will be implemented gradually, ensuring that the burden on customers remains manageable while the company continues to invest in infrastructure and service quality.

With a career spanning over two decades, Balsingh’s experience in telecoms and his knowledge of the Nigerian market placed him as a strong leader for Airtel Nigeria in 2025. His past roles, including Chief Commercial Officer and Marketing Director at Airtel Nigeria, provide him with the operational expertise needed to scale through the complexities of the Nigerian telecom market. 

Balsingh’s leadership is expected to drive growth, particularly as Airtel Nigeria focuses on expanding its network and enhancing digital services for underserved areas.

He has also been a vocal advocate for Nigeria’s digital transformation, and his strategic vision aligns with the government’s agenda to ensure economic growth through digital services. He recognizes the increasing demand for digital connectivity across various sectors, such as education, banking, and healthcare, and has committed to strengthening Airtel’s network to meet these needs. 

His leadership style, focused on long-term growth and customer-centric initiatives, will likely position Airtel Nigeria as one of the leading telecom operators in the country in 2025.

3. Ahmad Farroukh – Globacom

Ahmad Farroukh, recently appointed as the CEO of Globacom, has over three decades of experience in the telecommunications industry, Farroukh’s leadership aims to lead Globacom through a critical phase of restructuring and growth. 

His career began in 1995 with Investcom Group, which was later acquired by MTN. Since then, he has held numerous senior leadership roles, including managing director of MTN Ghana, CEO of MTN Nigeria, CEO of MTN South Africa, and Group CEO at Smile Communications Nigeria Limited.

Farroukh has a great record across various telecom markets in Africa and the Middle East, emphasizing his capability to handle high-pressure environments. In 2024, his appointment came as Globacom faced some challenges, including a 69.2% reduction in its subscriber base, attributed to discrepancies uncovered in a regulatory audit. Farroukh is tasked with restoring subscriber confidence and also implementing strategic reforms to improve governance and operational efficiency.

Globacom has faced high competition in the Nigerian telecom sector, and Farroukh’s experience in turning around struggling telecom companies will help in overcoming these challenges. His tenure at Mobily in Saudi Arabia saw him successfully resolve a nearly $1 billion revenue overstatement issue and renegotiate a $4 billion debt. 

His expertise in operational efficiency and restructuring will be needed to revitalize Globacom’s place in the market. 

Furthermore, his discipline in transparency and governance aligns well with the Nigerian Communications Commission’s push for more solid industry standards, making Farroukh’s leadership an essential factor in Globacom’s recovery and growth in the new year. 

He is expected to entrench the culture of corporate governance at Globacom. Can he?

4. Obafemi Banigbe – 9mobile

Obafemi Banigbe’s appointment as CEO of 9mobile in July 2024 has generated anticipation within the Nigerian telecom industry. Banigbe brings with him an extensive background in telecom operations and business strategy across Africa and the United States. 

His career spans influential roles at companies like Celtel (now Airtel), Ericsson, and Millicom, where he shaped operational strategies in Ghana, Tanzania, and several other markets.

In 2024, Banigbe’s leadership is focused on leading 9mobile through its business transformation phase. He is expected to leverage his experience in the telecom, media, and technology sectors to enhance 9mobile’s competitive edge in Nigeria’s highly competitive telecom landscape. 

Banigbe’s appointment aims to enhance customer experience, network quality, and long-term strategic planning to meet the evolving needs of Nigerian telecom consumers.

Banigbe’s vision for 9mobile involves solidifying the company’s presence in Nigeria by building on its existing foundation while exploring new opportunities for growth. He emphasized in his statement that he aims to create value that would transform the Nigerian telecom sector. 

Banigbe’s expertise, particularly his advisory roles with Telecel Group and Nsano Group, places him well to guide 9mobile through its transformation, ensuring it remains a top player in the market. 

His academic credentials, including an MBA from Manchester Business School, complement his professional experience, making him one of the most capable leaders to watch in 2025.

9mobile seeks to enhance itself under Banigbe’s leadership, and the company is expected to introduce innovative solutions and strengthen its place within the competitive telecom market in Nigeria. 

Banigbe’s experience in network support, operations, and strategic planning will be required as he drives the company toward delivering superior customer satisfaction and operational excellence.

From Techeconomy’s estimation, 9mobile requires trillions of naira investment to revitalize its operations and rejig the infrastructure. Can Mr. Banigbe convince the investors? Is 2025 the year of 9mobile? Time shall tell.

5. Adrian Wood – ntel

Adrian Wood’s return to the Nigerian telecoms sector as the CEO of ntel aims to help the company rebrand and compete at a higher level within the market. Having previously served as the CEO of MTN Nigeria, Wood’s wealth of experience positions him to drive significant changes at ntel. 

After taking the role in January 2024, Wood set out with a mission to raise between $500 million and $550 million to restructure the company and expand its network.

In 2024, Wood immediately set to work by engaging with stakeholders, including the Nigerian Communications Commission (NCC) and the Asset Management Corporation of Nigeria (AMCON), which took over ntel’s management. His strategy involved introducing new products and services that had not yet existed in Nigeria’s telecom space. Through meetings with potential investors such as African Capital Alliance, Wood demonstrated his commitment to attracting the capital needed for a major network overhaul. 

His vision includes rolling out a 4G/5G network across Nigeria, a move that will reposition ntel in a competitive market and also provide much-needed infrastructure to enhance the country’s digital sector.

In a letter to ntel staff, Wood outlined his long-term plans, including the launch of a new, innovative brand and service combinations that are fresh to the Nigerian market. 

In focusing on high-impact initiatives and establishing partnerships with top companies, Wood is laying the foundation for ntel’s scale-up into a top telecoms player, making him one of the most closely watched CEOs in the industry as he works to secure funding and overcome the challenges of the telecom market.

Can Mr. Wood pull ntel out of the woods?

6. Kendall Ananyi – Tizeti

Kendall Ananyi’s leadership of Tizeti pushed the company to new achievements in 2024, placing him as a top-tier telecom CEO to watch in 2025. Tizeti, known for its solar-powered, unlimited internet services, did great when with the launch of its FreeFiber broadband service across Nigeria and Ghana. 

This new service aims to continuously bolster internet speed and accessibility, with speeds of over 1Gbps—far surpassing the regional average of 28Mbps.

Tizeti’s expansion into new markets, particularly in Francophone West Africa, shows how focused Ananyi is on growth. In addition to enhancing service delivery in Nigeria, the company extended its reach into Côte d’Ivoire and other regions, addressing digital disparities across the continent. 

Under his guidance, Tizeti celebrated its fifth consecutive year of profitability in 2024, making a strong financial performance that allowed the company to distribute its third annual dividend to shareholders.

Ananyi’s vision for Tizeti isn’t just offering high-speed internet; he aims to bridge the digital divide by providing affordable and reliable internet to millions of Africans. The introduction of hyper-mega speeds of up to 1Gbps, combined with the company’s focus on solar-powered infrastructure, makes Tizeti a top company promoting digital inclusion. 

Ananyi’s leadership also includes advocacy for regional expansion, where he emphasized the importance of operating across multiple African countries to reduce currency risks and ensure financial stability. 

His support for education, particularly his scholarship awards to engineering students in 2023, reveals his desire to build future talent in the tech and telecom sectors. 

Is this the year Tizeti will challenge the big four, especially in the data space?

7. Abhulime Ehiagwina – Smile Communications

In 2024, Abhulime Ehiagwina, appointed as the Acting Chief Executive Officer of Smile Communications Nigeria, came in with a wealth of experience and strategic leadership. A seasoned financial expert, Ehiagwina has led finance teams in various industries, including telecommunications, infrastructure, oil and gas, and conglomerates. 

One of his achievements in 2024 was his leadership in financial management. His ability to implement effective working capital management strategies for telecommunications companies placed Smile Communications for enhanced financial performance and operational efficiency. Ehiagwina’s record also includes overseeing the issuance of a $250 million Eurobond for Helios Towers Nigeria, which was the first non-bank/Oil & Gas Eurobond issuance in Nigeria. 

Ehiagwina’s work in corporate governance was acknowledged when he was named IT & Telecom CFO of the Year at the Nigeria CFO Awards, revealing his place as one of the most influential leaders in the telecommunications sector.

Under his guidance, Smile Communications focused on repositioning its operations to improve service delivery, enhancing its reputation and strengthening its operations in the Nigerian market. Ehiagwina’s leadership, along with the appointment of Mann El Amine as the Group Managing Director, aims to help Smile Communications expand its footprint and improve its service offerings.

Before his current role, he held senior positions at NATCOM (NTEL), Helios Towers Nigeria, Etisalat Nigeria, and other telecom companies. His expertise in corporate restructuring, operational improvement, and organizational renewal makes him one of the top telecom CEOs to watch in 2025.

8. Sam Darwish – IHS

Sam Darwish, the Chairman and Chief Executive Officer of IHS, continued to drive IHS’s growth and positioned the company as a top player in the global telecom infrastructure market. 

In December 2024, IHS raised $1.2 billion through a bond offering to expand its telecom network across Africa, Latin America, and the Middle East. This funding, which included a $100 million commitment from the International Finance Corporation (IFC), will refinance existing debt and also boost IHS’s growth initiatives.

IHS’s focus on sustainability was well obvious in its 2024 achievements, particularly through its focus on digital inclusion and economic development. Darwish led the company to secure strategic partnerships, including a notable deal with IFC, which emphasizes digital inclusion, innovation, and job creation in underserved regions. This partnership will further boost IHS’s work to address connectivity gaps, especially in remote areas across its operational regions.

In July 2024, the company held its Annual General Meeting, where several governance reforms were approved, including changes to its board structure and shareholder engagement policies. These measures aim to enhance corporate governance and align the company’s interests with those of its shareholders. 

Another key achievement in 2024 was IHS’s ongoing contract renewals with telecom companies, including MTN and Airtel. These renewals, particularly the multi-year contract extensions with MTN across several African countries, reinforced IHS’s role in Africa’s telecom infrastructure. Again, IHS signed a new 3,950 tenant multi-year roll-out agreement with Airtel in Nigeria, further enhancing its work in the telecom sector.

Even with challenges such as Nigeria’s naira devaluation, IHS continued to prioritize sustainability and growth. In 2024, the company installed solar-powered boreholes in Maiduguri to support flood-affected communities, ensuring environmental sustainability and corporate social responsibility.

Darwish’s strategic decisions, corporate governance enhancements, and focus on expanding digital infrastructure make him one of the most influential telecom CEOs to watch in 2025.

9. Soji Maurice-Diya – ATC Nigeria

Soji Maurice-Diya, who previously served as the Chief Operating Officer (COO) and Commercial Director, was appointed as the CEO of ATC Nigeria in August 2024. He has a deep understanding of the telecom infrastructure sector and has been indispensable in ensuring the company’s growth. 

Maurice-Diya’s experience, spanning various sectors including technology, media, real estate, and telecommunications, places him among the top telecom CEOs to watch in 2025.

Under Maurice-Diya’s guidance, ATC Nigeria has made commendable advancements in sustainability. He led a groundbreaking environmental initiative in collaboration with the Nigerian Conservation Foundation (NCF), with the goal of planting 6,000 trees across 11 states in Nigeria. 

This initiative reiterated his corporate social responsibility focus and his dedication to environmental conservation in the face of the climate change crisis. Maurice-Diya’s leadership philosophy emphasizes operational efficiency and long-term growth, ensuring that ATC Nigeria is well-positioned to expand its platform and resilience in the years to come.

His previous roles have seen him drive growth at Etisalat Nigeria and IBM, where he contributed to the development of strategic business models and market expansion. Maurice-Diya’s academic credentials, including an MBA in Finance and Strategy from the Yale School of Management, add to his profile as a dynamic and visionary leader. 

In the new year, Maurice-Diya is expected to further boost the company’s place in the Nigerian telecom sector, focusing on innovation, operational excellence, and environmental sustainability.

10. Oladipo Badru – Pan African Towers

Oladipo Badru became the acting CEO of Pan African Towers (PAT) in November 2024. With nearly two decades of experience in the telecom and finance sectors, Badru brings a wealth of knowledge and expertise to his new role. Prior to his promotion, Badru served as PAT’s Chief Financial Officer (CFO), where he helped drive the company’s financial strategies and operational efficiencies. His transition into the CEO role follows the resignation of Azeez Amida, who led the company for two and a half years.

Badru’s leadership comes at a time when the telecom tower infrastructure market in Nigeria is highly competitive. PAT, which currently operates 764 active towers across Nigeria and serves over 1,200 tenants, faces competition from industry giants such as IHS Towers, ATC, and Helios Towers. 

However, with Badru, PAT is strengthening its marketplace. The company’s recent funding from Development Partners International (DPI) and Verod Capital aims to enhance its expansion plans, including the goal of tripling its tower footprint and addressing Nigeria’s infrastructure gap through strategic acquisitions and partnerships.

Badru’s career spans several high-profile roles, including Director of Finance at Etisalat UAE and Director of Finance and Operations at 9mobile. His experience also includes leadership positions at Helios Towers Nigeria, where he led the company’s growth. 

Badru’s financial background, combined with his operational expertise, places him as a key driver of innovation in the telecom infrastructure space. Under his leadership, PAT is expected to continue its transformation, enhancing connectivity across Nigeria and contributing to the country’s digital economy.

Badru’s qualifications, including an MSc from the University of Cumbria and his fellowships with various professional accounting bodies, further highlight his credibility as a seasoned leader in the telecommunications industry. 

As he leads Pan African Towers into 2025, Badru seeks to expand the company’s footprint and enhance its work in Nigeria’s telecom infrastructure market.

The post Top 10 Telecom CEOs to Watch in 2025 appeared first on Tech | Business | Economy.

Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway enables individuals and businesses to send, receive, and process payments globally.

The platform supports fiat currencies like the Nigerian Naira (NGN), US Dollar (USD), and Canadian Dollar (CAD), as well as cryptocurrency transactions.

As the creators of Nigeria’s largest price discovery engine, Naira Rates, Juicyway facilitates remittances and provides access to FX through various payment channels. It offers multicurrency accounts and access to a liquidity pool for local and international payments at competitive rates.

Licensed in Nigeria, Canada, the USA, and the UK, Juicyway has processed $1.3 billion across 25,000 transactions, and 4,000 customers, Juicyway has proven its value and efficiency.

Trusted by prominent brands like Bolt, IHS, Piggyvest, Mocoh SA, Bamboo, and Afriex, the company also partners with Access Bank for remittance services.

With remittance fees in Africa averaging 13% on $200 transfers in Q4 2023, there is a clear need for cost-effective solutions.

Juicyway addresses this need by leveraging stablecoin technology to enable fast, affordable global money transfers with 24/7 execution and settlement.

Through its web and mobile apps and APIs, Juicyway simplifies money movement while ensuring market-driven pricing.

By displaying real-time rates based on what other users are willing to pay, the platform creates a liquid ecosystem, lowers remittance costs, and empowers users to trade confidently, allowing greater financial inclusion.

Speaking on the round, Ife Johnson, co-founder and CEO of Juicyway says,

“Africa contributes less than 1% to the $5 trillion global currency market, partly because there’s no liquidity for intra-African currency pairs. The old systems weren’t built to support this. Over the next three years, we want to be the platform where Nigerians and eventually the whole of Africa, and those doing business on the continent can easily convert African currencies to local ones and back. Our ultimate goal is to unlock liquidity for African currency pairs that currently have none. Stablecoin technology and our network model make this vision achievable by enabling fast and efficient money movement. Without it, we’d still be in pursuit of this goal, but it would be far harder to achieve.”

Dedicated to building a technology-first platform, operating at both the source and destination of remittances, some of Juicyway’s payment platform features include:

• Cross-border payments
• Funds repatriation
• Treasury management
• Payment processing
• Spend management

Commenting on the fundraise, Justin Ziegler, co-founder and COO of Juicyway stated,

“Juicyway’s goal is to build uninterrupted, cost-effective cross-border infrastructure that enables Africa to participate in the global economy on equal footing. Our growth in a short period of time reflects the underlying demand for better global payments. We’re proud to offer a solution that eliminates the need for businesses and individuals to juggle multiple platforms to manage their financial needs. This investment represents a milestone for our company, and we are grateful for the trust and commitment from our investors”.

The funding will drive Juicyway’s growth by supporting team expansion, technological advancements, and entry into new markets. The round includes the addition of Joshua Wasserman, a compliance and regulatory expert with experience at the U.S. Federal Deposit Insurance Corporation (FDIC) and a key leader in building compliance for Cash App.

Juicyway also welcomes Idris Ibrahim, CRO of Juicyway, Ridwan Otun, formerly with Bamboo and Smart Pension, and Ukeoma Chukundah, ex-Klarna and Deimos, as key members of its engineering team.

Hisham Halbouny, co-Founder and managing partner at P1 Ventures who is leading the round said:

“We couldn’t be more excited to partner with Ife, Justin and Idris as they tackle one of the most critical challenges in finance. By leveraging innovative stablecoin technology, they’re leapfrogging outdated infrastructure to create a seamless, efficient, and inclusive cross-border payment system that reshapes how Africans connect with the global economy. At P1 Ventures, we seek audacious and exceptional founders like them—visionaries who aim to redefine industries and empower emerging markets. We couldn’t be more excited to support their journey!

Dr. Dotun Olowoporoku, managing partner at Ventures Platform:

“Juicyway’s innovative and forward-thinking approach to cross-border payments strategically positions it as a transformative force in Africa’s rapidly evolving financial landscape. By leveraging cutting-edge technology and deep market knowledge, Ife, Justin and the team exemplify our investment thesis of democratizing prosperity in Africa through innovation. This is achieved through significantly reduced transaction costs, enhanced accessibility to crucial financial services, and seamless cross-border transfer of value on the continent.”

In 2023, Africa received an estimated $90.2 billion in remittances, accounting for 5.2% of GDP and nearly double the amount of overseas aid. These funds are a vital lifeline for millions of families and businesses.

Juicyway is dedicated to making money transfers easier, faster, and more affordable.

The post Juicyway Emerges from Stealth with $3M Pre-Seed to Revolutionise Cross-Border Payments for Africans appeared first on Tech | Business | Economy.

The donation, which will be delivered through the United Nations Children’s Fund’s (UNICEF) emergency flood response, will help address the most urgent needs of flood-affected populations in Borno State, especially those displaced following flooding in Maiduguri Metropolitan Council, Jere and Konduga LGAs.

The four solar-powered boreholes donated by IHS Nigeria will be constructed in displaced peoples’ settlements and other temporary displacement sites. This will include in densely populated areas without access to a safe water source, at schools to help facilitate the early return of children to classes, and at health centers, which are also used as Outpatient Therapeutic Program sites and provide nutrition services and counselling for pregnant women, young mothers, and malnourished children.

Mohamad Darwish, CEO, IHS Nigeria, said, “We empathize with the government and people of Borno State and extend our sympathies to those who lost loved ones and properties in the flood. We are aware that as people begin to return to their homes and communities with flood waters receding, they continue to face major risk factors, including damaged and contaminated water sources. A key priority for us, which informed our donation of these boreholes, is to help prevent or limit outbreaks of communicable diseases such as cholera, while improving water, sanitation and hygiene (WASH) services for affected populations.

This donation is an extension of our partnership with UNICEF, which since 2021 has supported the provision of WASH facilities to over 6,000 beneficiaries and enabled the delivery of over one million preventive and curative treatments for tropical diseases related to WASH.”

Cristian Munduate, UNICEF Representative in Nigeria, said, “UNICEF is very grateful to IHS Nigeria for their generous donation of solar-powered boreholes, which comes at a critical time for communities affected by recent floods in Borno State. This contribution will not only provide essential safe water to thousands, but also protect vulnerable populations, including children, from the threat of waterborne diseases, and support communities as they work to start rebuilding their lives and livelihood. Together with IHS Nigeria, we are making significant strides in safeguarding children and families, and strengthening resilience through our shared commitment to water, sanitation and hygiene services in emergencies.”

IHS Nigeria’s long-standing partnership with UNICEF was recently demonstrated by the visit of Kitty van der Heidjen, UNICEF’s Deputy Executive Director, Partnerships, and her team to the company’s Head Office in Lagos.

Kitty van der Heidjen expressed her appreciation for the ongoing partnership with IHS Nigeria in empowering the country’s youth through education and digital connectivity. Under UNICEF’s Generation Unlimited (GenU) Project, designed to improve digital learning in Nigeria, IHS Nigeria has helped provide internet connectivity to 800 educational institutions between 2022 and 2024.

Through a collaborative partnership with UNICEF that began in 2019, IHS Nigeria has invested more than $4 million in various initiatives, including GenU 9ja, COVID-19 interventions, oxygen plant installations, WASH initiatives and school connectivity.

The post IHS Nigeria Donates Four Solar-powered Boreholes to Flood Victims in Maiduguri appeared first on Tech | Business | Economy.

It enables the government to focus on formulation of policies that can stimulate economic growth, provision of basic amenities for the citizens, and building essential infrastructure that can drive national Gross Domestic Product (GDP) growth.

Businesses and investors (local and foreign) are more likely to invest in an economy where their operations, assets and operations are protected from crimes such as theft and vandalism, terrorism, and other security threats.

Reasons include the fact that an effective and efficient security system will reduce the cost burden on the government and businesses, allowing for more funds to be directed towards product research, development projects and economic growth initiatives.

• With the rising global security threats occasioned in part by the advancement in technology and increasing activities of terrorists and other non-state actors, defence and security receive huge votes in annual government budgets in many countries, including Nigeria.

In Nigeria, the protection of essential physical and virtual Critical National Assets and Infrastructure (CNAI) consisting of systems, assets, and networks are prioritised by the federal, state and local governments because they have direct and indirect impact on our daily lives.

These include roads, airports, seaports, railways, electricity grids, transformers, transmission cables, oil and gas pipelines, water supply facilities, schools, hospitals, government buildings, courts, national defence and security institutions, custodial facilities, and international travel passports, among others.

Equally pivotal for Nigeria’s security and socio-economic growth are the essential physical and virtual telecommunication infrastructure that drives our nation’s functioning communication, security, and general well-being of Nigerians and foreigners resident in the country.

The physical infrastructure includes telecom towers, fibre optic cables, and power generators at cell sites. The virtual infrastructure such as digital networks, information systems, and data repositories underpin crucial operations such as telecommunications, financial transactions, emergency response coordination, and national defence, and internal security.

Theft, vandalism and destruction of telecom’s physical and virtual assets ranked among the nagging challenges faced by telecom operators and infrastructure companies in Nigeria.

• With Information and Communication Technology (ICT), of which telecom is a significant driver, contributing 16.66% to Nigeria’s real GDP in Q4 2023 according to the National Bureau of Statistics (NBS), the protection of telecom infrastructure and assets cannot be overemphasised. 

The Nigeria Security and Civil Defence Corps (NSCDC) is the lead federal government security outfit with a mandate to protect and safeguard Critical National Assets and Infrastructure across the country.

Commandant General of the NSCDC, Dr. Ahmed Abubakar Audi, recently reaffirmed that any act of destruction or vandalism of our CNAI would have debilitating effects on the national economy.

Thus, recently, IHS Towers, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, took a bold step by donating ICT equipment to NSCDC during a visit to the agency’s headquarters in Abuja.

The gesture, according to IHS Nigeria’s Associate Director, Government Relations, Fatima Ibrahim-Haruna, was to enable the security agency to scale-up effectiveness and efficiency in its operations by leveraging technology to adequately tackle insecurity challenges and threats in the country.

While commending NSCDC for its efforts at protecting the nation’s CNAI, she added that the donation of the ICT equipment underscored the commitment of IHS Towers to promoting the wellbeing of people and communities, in line with the core pillars of the company’s Corporate Social Responsibility (CSR).

Ibrahim-Haruna noted that IHS Towers owns over 16,000 towers across Nigeria and pledged the company’s continued collaboration and partnership with NSCDC, as well as other strategic institutions to foster a sustainable future for Nigeria. She added that IHS Nigeria would further support the agency by upgrading its ICT Centre.

“Telecom infrastructure is integral to national security by supporting communication for defence operations and intelligence activities, financial institutions, healthcare, education, aviation, commerce and many other sectors that rely heavily on telecommunications for their daily operations. Disruptions in telecom operations can lead to significant economic losses, affecting productivity and growth. Ensuring security and protection of telecom infrastructure helps prevent espionage, cyber-attacks, and other security threats that can undermine national security and economic stability,’’ she stated.

The NSCDC Commandant General, Dr. Audi, commended IHS Nigeria for the ICT equipment and reiterated the unwavering commitment of the security outfit to ensuring adequate safety of lives and protection of critical national assets and infrastructure in the country.

“Maintaining law and order, and most importantly safeguarding all critical national assets and infrastructure in the nation is a core mandate to which NSCDC is irrevocably committed, as the lead agency in this regard,’’ he affirmed, while restating that critical assets and infrastructure were pivotal for national security, economic growth and social order.

Audi added: “It is against this backdrop that NSCDC has mapped out different strategies to nip in the bud all activities of economic saboteurs vandalising government properties and critical national assets and infrastructure. As a lead agency in the protection of CNAI as contained in the National Security Document, we remain resolute, and call on other critical stakeholders and security agencies to collaborate with NSCDC for maximum protection of CNAI.’’

The Commandant General assured the delegation from HIS Nigeria of the agency’s continued partnership with IHS Towers by ensuring there is no obstruction to its operations.

Telecom infrastructure is essential for fostering innovation and technological advancements. Telecom infrastructure provides the backbone for emerging technologies like IoT, AI and 5G, which drive economic development through creating new opportunities for individuals, businesses and countries.

Critical services such as national security and intelligence, law enforcement, emergency response, healthcare, education, financial transactions, among others depend on reliable telecommunications.

Therefore, protecting telecom infrastructure like other critical national assets and infrastructure will ensure these services are made available without disruptions and the economy will be the best beneficiary if this can happen.

*Ojedokun, a brand strategist and development expert writes from Lagos.

The post IHS Nigeria, NSCDC’s Synergy on Protection of Critical National Assets appeared first on Tech | Business | Economy.

The order was made in Suit No: FHC/L/CS/2359/2023 – between HEDA Resource Center, Federal Ministry of Environment and Ecological Management, MTN, ATC and others, a suit which was commenced by the Incorporated Trustees of HEDA Resource Center against the Federal Ministry of Environment and Ecological Management, MTN Nigeria Communications Plc, ATC Nigeria Wireless Infrastructure Limited and others.

HEDA Resource Center stated that ATC proposed to build 2,500 Base Transceiver Stations for MTN’s operations which it claimed were within proximity to Base Transceiver Stations belonging to IHS Towers Nigeria Limited.

Without notice to the other parties to the matter, HEDA Resource Center obtained an interim order from the Federal High Court, Lagos, on account that it was imperative for the Court to stop MTN and ATC from constructing any Base Transceiver Stations across Nigeria.

MTN had through its lawyers, Kenna Partners, led by  Professor Fabian Ajogwu, SAN,  applied to set aside the interim order, arguing that the order ought not to have been granted as there was no real urgency or imminent wrong disclosed by HEDA Resource Center.

MTN contended that HEDA Resource Center, in obtaining the interim order, concealed key facts which would have aided the Court in coming to a different decision on the issue.  Similarly, ATC through its lawyer, Nicholas Okafor, argued that the interim order obtained against ATC was baseless in law and was made in the absence of jurisdiction.

The Court in its Ruling, agreed with MTN that the interim order made in favour of HEDA Resource Center ought not to have been granted, given that there was no genuine urgency disclosed by HEDA Resource Center, such as to warrant the making of the order in the first place.

The Court also agreed with MTN that HEDA Resource Center concealed the important fact that none of MTN’s Base Transceiver Stations were in violation of Nigerian Communications Commission (NCC’s) Regulations on spacing that should exist between towers.

The Court adjourned the matter to April 22, 2024.

The post HEDA Resources: Court Sets Aside Order Stopping ATC and MTN from Constructing Base Stations in Nigeria appeared first on Tech | Business | Economy.

In a Form 48 sighted by our correspondent in the registry of the Federal High Court on Monday 5th February, 2024, HEDA issued a notice of consequences of disobedience of court orders against ATC Nigeria.

Named in the said Form 48 is the Managing Director of ATC Nigeria against whom the warning seems to be directed.

It would be recalled that HEDA had in a public interest Suit marked FHC/L/CS/2359/2023 sued the Federal Ministry of Environment, ATC Nigeria Wireless Infrastructure Ltd (ATC Nigeria) and MTN Nigeria Communications Plc (MTN Nigeria) to stop MTN and ATC from siting new base stations where there are already existing ones in close proximity owing to health and environmental concerns.

Justice Yellim Bogoro, had on 21st November 2023 issued an ex parte order of injunction against ATC Nigeria, MTN Nigeria and other defendants to restrain themselves from taking any step towards establishing new masts in close proximity to existing ones.

The court upheld the prayers of the plaintiff/applicant, (HEDA Resource) and ordered the fourth and fifth defendants, ATC Nigeria Wireless Infrastructure Ltd and MTN Nigeria Communications Plc respectively, together with their “servants, agents, privies and/or assigns from commencing, continuing or completing the construction or installation of any base trans-receiver stations/towers/masts (BTS) within close proximity to IHS’ existing BTS or operating any BTS within close proximity to IHS’ existing BTS pending the determination of the motion on notice.”

The order effectively put on hold the implementation of the 2,500 towers project from IHS to ATC announced by MTN on or around 10th November 2023. The order of injunction was reaffirmed by the court on 7th December 2023.

Filling of the contempt proceedings, may not be unconnected with alleged violation of the order of Justice Yellim Bogoro, made on 21st November 2023.

The matter is coming up on the 14th of February, 2024 for hearing of the application.

The post HEDA Seeks to Jail American Tower’s Nigeria CEO for Contempt of Court appeared first on Tech | Business | Economy.