IHS Nigeria and Airtel Africa have reached an agreement for Airtel Nigeria to acquire 3,950 tenancies from IHS over the next five years, with most of these acquisitions expected to occur in 2024 and 2025. In addition, the term of existing tenancies with Airtel, covering approximately 6,000 tenancies, has been extended until 2031.
IHS Nigeria in a statement,said the agreement also includes 2,500 colocations and incorporates modifications to support 5G deployments, as well as build-to-suit sites that will be owned and managed by IHS Nigeria. The agreement is expected to provide long-term value to both parties and support the delivery of quality telecommunications services in Nigeria.
“IHS Nigeria and related entities, which are subsidiaries of IHS Holding Limited (NYSE: IHS) (“IHS Towers”)…, and Airtel Nigeria, a subsidiary of Airtel Africa Plc (LSE:AAF), … 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 statement read.
Sam Darwish, chairman and CEO of IHS Towers, stated that the expansion and renewal of the company’s relationship with Airtel Nigeria is a testament to its commitment to providing quality services to its customers and meeting the growing demand for connectivity in Africa. Darwish also expressed his pleasure in strengthening IHS’s collaboration with Airtel Nigeria, which is a key market for the company.
The agreement aligns with Airtel Africa’s sustainability strategy and IHS Tower’s Carbon Reduction Roadmap, which aims to reduce emissions intensity by 50 per cent by 2030. The two companies have also agreed to explore new initiatives to reduce their environmental impact across their shared sites in the future.