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 report, released under the Speedtest Awards banner, highlights MTN’s superior performance in download and upload speeds, cementing its leadership in mobile broadband innovation and 5G deployment.

Key Performance Highlights (Q2 2024)

5G Rollout Driving Speed Revolution

MTN Nigeria launched its 5G network commercially in September 2022, covering major cities such as Lagos, Abuja, Port Harcourt, Ibadan, Kano, Owerri, and Maiduguri.

The company reportedly invested over $120 million in infrastructure upgrades, spectrum acquisition, and rollout, enabling it to deliver next-generation connectivity to millions of users.

According to Ookla, both Nigeria and Ghana have tripled their median download speeds in just two years, a clear reflection of network modernization and fiber expansion across the sub-region.

Industry Significance

The recognition underscores the role of private sector innovation in driving Africa’s digital transformation.

For consumers, the performance leap means smoother streaming, online gaming, and video calls.
For businesses, it enhances cloud adoption, fintech transactions, and remote operations, critical enablers for a digital economy.

The Road Ahead

As Nigeria’s telecom sector continues to evolve, all eyes are on how competition; Airtel and Mafab will respond to MTN’s dominance in the 5G race. Is there possibility of Glo and 9mobile joining the race too?

The industry regulator – Nigerian Communications Commission (NCC) and industry stakeholders are also expected to prioritize spectrum availability and rural broadband coverage to sustain this momentum.

Summary of the Report:

In Nigeria, issues such as deforestation, flooding, and erratic weather patterns continue to threaten livelihoods, disrupt ecosystems, and pose risks to public health.

While these challenges may seem insurmountable, they also present an opportunity – a chance to innovate, take action, and create sustainable solutions for the future.

The PachiPanda Challenge, a collaborative initiative by MTN Nigeria, and the Nigeria Conservation Foundation (NCF), is a dynamic platform designed to empower young Nigerians to take on the country’s most pressing environmental issues.

Through this challenge, young visionaries and youth-led small and medium enterprises (SMEs) are being called upon to think creatively and develop cutting-edge solutions that can help reshape Nigeria’s environmental landscape. The goal is to identify problems and pioneer innovative tech solutions that address them head-on.

Recognising the need to harness this youthful energy, the PachiPanda Challenge has provided an empowering platform where young Nigerians can step forward and turn their creative ideas into practical, life-changing solutions.

This move will foster a generation of innovators who will lead the charge toward environmental sustainability. The process began with a nationwide call for applications, which drew an overwhelming 1,643 entries from individuals and teams across the country.

After reviewing the entries which focused on the feasibility, originality and potential impact of the proposed solutions submitted, the field was shortlisted to the top 100.

Upon further evaluation, the top 10 finalists were selected. As the challenge approaches its finale, the 10 finalists will participate in a 3-day event where they will pitch their ideas to a distinguished panel of judges.

These judges, seasoned experts from various fields, will evaluate the ideas based on their innovation, sustainability, and scalability.

The winners will walk away with prizes, gaining access to resources, mentorship, and networking opportunities that can help bring their solutions to life.

Also, the top winner will advance to the Pan-African Africa PachiPanda Challenge, where they will compete against other national winners for a chance to scale their solution across the continent.

By providing young Nigerians with the tools, platform, and support they need, the PachiPanda Challenge is empowering the next generation of environmental champions.

Through this challenge, it is evident that these young innovators hold the key to addressing the environmental issues that affect us all, turning problems into opportunities and ideas into actions.