Nigerian tycoon Temitope Lawani’s Helios opens 2026 with $230 million in revenue

Helios Towers, the African and Middle Eastern telecom infrastructure group backed by Nigerian private-equity executive Temitope Lawani, reported about $230 million in revenue as it enters a strategic phase in 2026 marked by strong financial performance driven by tenancy growth, underpinned by a base of contracted revenues with embedded contractual CPI and power price protections.

Revenue growth fueled by telecom infrastructure demand 

The London-listed tower operator, which disclosed total contracted revenue of $5.3 billion, with an average remaining contract life of 6.7 years, booked revenue of $229.2 million in the first three-month period ended March 31, 2026, up by 12% from less than $203.8 million a year earlier after adding 1,406 new telecom tenancies across Africa and the Middle East. Adjusted EBITDA climbed to $127.2 million from $111.1 million, supported by stronger rollout activity from mobile network operators and a growing tenancy pipeline.

The company ended the quarter with 33,350 tenancies across nearly 15,000 telecom tower sites in nine countries spanning Africa and the Middle East. This was up from 30,074 as of March 31 2025. Its tenancy ratio, a key profitability metric measuring tenants per tower, improved to 2.22 times from 2.09 times a year earlier. About 99% of revenue came from multinational mobile network operators, while nearly 70% of contracted revenue exposure remains linked to investment-grade customers.

Helios Towers raises 2026 tenancy target 

Helios Towers now expects between 3,000 and 3,500 tenancy additions in 2026, compared with previous guidance of 2,000 to 2,500 additions. The revised outlook includes roughly 500 additional sites and reflects stronger deployment activity from multinational mobile operators investing in network expansion across emerging markets.

The company also raised its adjusted EBITDA forecast to between $515 million and $530 million, up from prior guidance of $510 million to $525 million. Recurring free cash flow guidance was increased to between $215 million and $230 million. Helios Towers said the additional 1,000 tenancies are expected to contribute more than $15 million in annualized adjusted EBITDA beginning in 2027.

Entering the IMPACT 2030 era

Alongside the results, Helios recently launched IMPACT 2030, its next strategic phase following years of expansion and integration.

Tom Greenwood, Chief Executive Officer, said the first-quarter report highlights structural growth momentum across the company’s markets with “demand for data and connectivity across Africa and the Middle East remains exceptionally strong, with our mobile operator customers accelerating investment, driving significantly increased demand for our infrastructure. “ Our tenancy pipeline this year is significant, and we are upgrading our financial and operational FY 2026 guidance,” he said.

Under its IMPACT 2030 strategic plan, the company is accelerating growth ambitions, now targeting a record 3,000 to 3,500 tenancy additions in FY 2026, an upward revision of 1,000 from prior guidance, while maintaining disciplined return thresholds. Buoyed by a strong start to the cycle, it is positioning to capture high-quality organic growth, strengthen its balance sheet, and sustain attractive shareholder distributions, signaling solid execution momentum heading into the rest of the fiscal year.

A maturing telecom infrastructure champion

Founded in 2009 and now present in 11 markets, Helios Towers Group has evolved into one of Africa’s most significant digital infrastructure operators. The group also moved to strengthen its balance sheet through refinancing initiatives completed in April and May 2026. In April, Helios Towers refinanced its 2028 term loan through the issuance of $500 million in senior notes due 2031.

The refinancing lowered the company’s average cost of debt by roughly 40 basis points to 6.7 percent while extending debt maturities. In May, the company secured an undrawn $250 million three-year term loan intended to manage its 2027 convertible bond obligations and support general corporate purposes.