IHS in Nigeria, a subsidiary of IHS Holding Limited and MTN Nigeria, a subsidiary of the largest mobile network operator in Africa, MTN Group announced an agreement this Thursday, August 8, 2024. This agreement will renew and extend all major tower rental agreements in Nigeria until December 2032, covering approximately 13,500 rental contracts

Renewals cover approximately 13,500 rentals through the end of 2032. The renewed and extended contracts include new financial terms that propose what the parties believe is a more sustainable distribution between local and foreign currency, as well as a new diesel-related component. This agreement reflects the vital importance of IHS Towers' infrastructure and the strong operational relationships between IHS Towers and MTN, Nigeria's largest mobile network operator, with around 79 million subscribers.The new terms of the renewal agreement include a USD component that will continue to benefit from annual indexations linked to the American Consumer Price Index, an NGN component that b& will benefit from indexations linked to the Nigerian Consumer Price Index, and a new component indexed to the cost of supplying diesel energy, introduced to serve as a guarantee against diesel prices and exchange

It should be noted that IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructures in the world in terms of number of towers and is exclusively focused on emerging markets. It has more than 40,000 towers in its 10 markets, including South Africa, Brazil, Cameroon, Colombia, Ivory Coast, Egypt, Kuwait, Kuwait, Nigeria, Nigeria, Nigeria, Nigeria, Rwanda, Nigeria, Nigeria, Rwanda and Zambia