IHS Nigeria and Airtel Nigeria have agreed for Airtel Nigeria to acquire 3,950 tenancies over the upcoming five years.
In a statement on IHS Tower’s website, the bulk of these acquisitions is expected in 2024/2025 and the duration of existing tenancies, covering approximately 6,000 tenancies, has been extended until 2031.
This agreement includes 2,500 colocations and incorporates 5G modifications and build-to-suit sites that will be owned and managed by IHS Nigeria.
The statement reads, “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 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 collocations in addition to 5G amendments and build to suit sites to be owned and operated by IHS Nigeria
Speaking on the deal, the CEO of IHS Towers stated, “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.
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