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Landmark Transaction Set to Reshape Africa’s Telecom Infrastructure and Digital Connectivity Landscape
MTN Group has moved a step closer to completing its proposed $6.2 billion acquisition of IHS Holding Limited after shareholders of the telecommunications infrastructure company overwhelmingly approved the transaction at an Extraordinary General Meeting (EGM).
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The shareholder approval clears one of the final major hurdles for the all-cash acquisition, which was first announced in February 2026. The transaction remains subject to customary regulatory approvals and other closing conditions before it can be finalized.
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Once completed, the deal will unite Africa’s largest mobile network operator with one of the continent’s leading independent telecommunications tower companies, creating one of the most significant infrastructure consolidations in Africa’s telecom industry.
Shareholder Approval Marks Major Milestone
Reacting to the outcome of the shareholder vote, MTN Group President and Chief Executive Officer, Ralph Mupita, described the approval as a critical step towards strengthening Africa’s digital infrastructure ecosystem.
“The overwhelming support from IHS shareholders marks a significant milestone in the transaction process. We look forward to completing the deal, subject to the remaining regulatory approvals and customary closing conditions,” Mupita said.
He noted that the acquisition reinforces MTN’s long-term strategic vision of building a stronger, more resilient digital infrastructure platform capable of supporting Africa’s accelerating digital transformation.
Acquisition Supports MTN’s Ambition 2030 Strategy
According to Mupita, the acquisition aligns closely with MTN’s Ambition 2030 Strategy, which places digital infrastructure at the heart of the company’s long-term growth agenda.
“Towers are a key driver of value that will strengthen MTN’s strategic and financial position for the future. This deal is fully aligned with our Ambition 2030 strategy, where digital infrastructure plays a central role in ensuring connectivity, supporting the rising demand for digital services and artificial intelligence, and creating long-term value for our stakeholders,” he said.
MTN believes that full ownership of IHS Towers will significantly enhance its network efficiency. It also expects the move to improve infrastructure investments across its operating markets.
This strategic acquisition will ultimately strengthen MTN’s ability to support growing demand for broadband, cloud computing, artificial intelligence (AI), fintech services, and next-generation connectivity.
Deal Valued at $6.2 Billion
Under the agreement announced earlier this year, MTN will acquire approximately 75 per cent of IHS Holding Limited that it does not already own for $8.50 per share in cash, valuing the company at an enterprise value of approximately $6.2 billion.
The acquisition represents one of the largest mergers in Africa’s telecommunications industry and underscores MTN’s growing confidence in the continent’s long-term digital economy.
Strategic Shift in Telecom Infrastructure Ownership
The transaction signals a notable reversal of an industry strategy that had previously gained widespread traction. That strategy saw many mobile network operators divest their tower assets to independent infrastructure companies. This enabled them to reduce capital expenditure through leaseback arrangements.
By bringing IHS Towers fully under its control, MTN expects to:
- Gain greater ownership and operational control of critical network infrastructure.
- Reduce long-term tower leasing costs.
- Accelerate investments in 4G, 5G and future broadband infrastructure.
- Improve operational efficiencies across its markets.
- Strengthen support for AI, cloud computing and digital services.
Industry observers believe the acquisition reflects a broader evolution in telecom strategy. Infrastructure ownership is increasingly viewed as a competitive advantage amid growing demand for digital connectivity.
IHS Towers Built a Pan-African Infrastructure Business
Founded in Nigeria in 2001, IHS Holding Limited has evolved into one of the world’s largest independent telecommunications infrastructure providers.
The company owns and manages tens of thousands of telecom towers across Africa and Latin America. It is providing shared infrastructure services to major mobile network operators including MTN, Airtel, Orange, and several other telecommunications companies.
Its extensive tower portfolio has played a critical role in expanding mobile broadband coverage and supporting digital connectivity across emerging markets.
Africa’s Digital Economy Driving Infrastructure Investments
Analysts say the proposed acquisition reflects the increasing importance of telecommunications infrastructure in enabling Africa’s fast-growing digital economy.
Rising demand for mobile broadband, cloud computing, artificial intelligence applications, enterprise connectivity, financial technology and digital public services is driving operators to invest heavily in resilient network infrastructure.
The integration of MTN and IHS Towers is expected to strengthen network capacity, improve service delivery and accelerate deployment of next-generation digital infrastructure across MTN’s operating markets.
Regulatory Approvals Remain Before Completion
Although shareholders have approved the acquisition, the transaction remains subject to regulatory clearances and other customary closing conditions.
Once finalized, the acquisition is expected to rank among the largest telecommunications mergers in African history. It will combine one of the continent’s biggest mobile operators with one of its largest independent tower companies. This union is poised to significantly reshape Africa’s digital infrastructure landscape.
The deal is also expected to reinforce MTN’s ambition to build a more integrated digital infrastructure platform. A platform capable of supporting Africa’s expanding digital economy over the coming decade.
