Investec Asset Management is delighted to recognise the significant achievement of IHS in being selected by MTN to jointly own, and to have full operational control over, the 9,151 network towers that MTN currently has in Nigeria. This landmark deal, following closely on the deal struck last month for IHS to acquire 2,136 towers from Etisalat Nigeria, cements IHS’s position as the clear leader in the mobile towers sector in
Nigeria. Furthermore it confirms IHS’s position as the leading mobile towers business in Africa where its five-country platform, including Cameroon, Cote d’Ivoire, Zambia and Rwanda, is now approaching 20,000 towers owned and managed. In all five countries MTN has selected IHS as its tower-owning partner; clear recognition of IHS’s capability in providing an outstanding service offering and its trusted and valued partnership approach.
We are particularly pleased, given IHS’s roots in Nigeria, that it is able to announce the MTN Nigeria and Etisalat Nigeria agreements and look forward to the company continuing to provide an offering that is highly valued in Nigeria, and in the other countries in which it operates, and that continues to contribute to the lives of the people who live and work in these markets and the development of the respective economies.
Our Africa private equity fund was the first private equity investor to support IHS, investing in the business in mid-2011 along with the FMO and IFC. Since this initial investment IHS has enjoyed significant growth
– from owning around 270 towers in Nigeria to the current five-country platform approaching 20,000 towers. We want to acknowledge the immense dedication and effort of the founders, Issam Darwish and William Saad, and of the management, the Board, and fellow shareholders in bringing IHS to where it is today.
Source: Investec Asset Management.