MTN Group, Africa’s largest mobile operator, is reportedly in advanced discussions to acquire the remaining 75% of IHS Holdings it does not already own, in a $2.76 billion deal.
IHS operates a broad portfolio of telecom towers across Nigeria, South Africa, and other African nations, where MTN is its largest customer.
Full ownership would give MTN greater control over its network infrastructure, enabling streamlined tower management, cost efficiency, and faster 4G, 5G, and rural connectivity rollout. Analysts note that consolidating IHS Towers could significantly enhance MTN’s pan-African telecom position while reducing dependency on third-party operators.
Strategic rationale behind the deal
By buying the remaining 75% of IHS Holdings to gain full control over its tower infrastructure, which it currently leases. This allows MTN to optimise network deployment, reduce lease costs, and improve operational synergies across its African footprint, particularly in high-demand markets like Nigeria and South Africa.
According to Shore Africa‘s research, this is not a buyout of Sam Darwish’s stake in IHS; Darwish remains a significant shareholder and founder, with MTN aiming to acquire the portion it does not already hold.
Regarding other operators such as Airtel, Vodacom, or Orange, IHS remains an independent tower operator under existing contracts. MTN’s stake consolidation does not automatically terminate these agreements, but it could influence future lease negotiations, pricing, and tower access terms.
MTN’s acquisition is about strategic control and cost optimisation, not outright market exclusion. Third-party operators may experience indirect effects on lease flexibility or pricing, but tower-sharing obligations are likely to remain under regulatory scrutiny.
Long-term telecom advantages and impact
Full ownership of IHS Towers positions MTN to accelerate next-generation network rollouts. The company can expect improved revenue potential, reduced leasing costs, and better operational synergies. This consolidation reinforces MTN’s competitive advantage across Africa, while enabling faster 4G, 5G, and rural coverage.
MTN’s move signals a broader trend in Africa’s telecom sector toward infrastructure consolidation. Operators are seeking scale, cost efficiency, and reliable network access, which could influence future mergers or tower-sharing arrangements.
Full control over tower assets is emerging as a key driver of growth and competitiveness in the continent’s telecom market.
Future outlook
If completed, MTN’s buyout of IHS Towers’ remaining stake could mark a milestone in African telecom infrastructure, reinforcing MTN’s leadership and digital expansion across the continent.
