IHS Towers Expands Partnership With Airtel Africa by Renewing and Expanding Contract in Nigeria

(High)

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

partnership

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

02/07/2024 - 05:10 AM EST

Commits 3,950 Tenancies Over The Next 5 Years

With The Majority Over 2024/2025

Renews Approximately 6,000 Existing Tenancies Through 2031

LONDON--(BUSINESS WIRE)-- IHS Nigeria and related entities, which are subsidiaries of IHS Holding Limited (NYSE: IHS) (“IHS Towers”), one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, and Airtel Nigeria, a subsidiary of Airtel Africa Plc (LSE:AAF), one of the largest MNO’s on the African continent, have today announced a commitment for Airtel Nigeria to take 3,950 tenancies over the next five years (with the majority expected over 2024/2025) and extended the term of its existing tenancies covering approximately 6,000 tenancies until December 2031.

The agreement includes 2,500 colocations in addition to 5G amendments and build to suit sites to be owned and operated by IHS Nigeria.

In line with Airtel Africa’s sustainability strategy launched in October 2021, and IHS Towers’ plans to pursue its Carbon Reduction Roadmap aimed at reducing IHS Towers’ intensity metric by 50% by 2030, both companies have agreed to cooperate on new green initiatives on the collective sites going forward.

Sam Darwish, Chairman & CEO, IHS Towers, said “The expansion and renewal of our relationship with Airtel Nigeria is a testament to our continued commitment to serving our customers and the connectivity demands of Africa. Airtel Nigeria, as well as Airtel Africa who we serve in other markets in Africa, has been a long-term partner of IHS, and I am delighted that we continue to strengthen our collaboration to help facilitate mobile connectivity in our largest market, supporting our customers in rolling out new sites throughout Nigeria.”

About IHS Towers: IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count and is one of the largest independent multinational towercos solely focused on the emerging markets. The Company has nearly 40,000 towers across its 11 markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Kuwait, Nigeria, Peru, Rwanda, South Africa and Zambia. For more information, please email: communications@ihstowers.com or visit: https://www.ihstowers.com