Africa’s leading cellphone tower operator, IHS Towers, and the continent’s largest mobile provider, MTN, are leveraging their recently renegotiated tower agreements to address governance disputes.
In a joint statement released on Tuesday, both companies expressed their commitment to "work constructively to find a mutually agreeable resolution to governance issues previously raised."
This development marks a significant step towards strengthening their partnership and ensuring better governance practices across their operations.
Last week, the two companies put aside some of their differences, announcing a renegotiated agreement of the mobile operator’s tower leases in Nigeria. The move helps the communications group to reduce the amounts that it has to pay for the infrastructure in foreign currency, specifically the dollar.
With this new deal in place, IHS and MTN have completed the renewal of about 26,000 MTN tenancies on IHS’s infrastructure across six African markets — Nigeria, Rwanda, Ivory Coast, Cameroon, Zambia, and SA.
“The renewal of the various contracts across our markets into the next decade put MTN operations in the respective markets onto a more sustainable footing,” said MTN Group CEO Ralph Mupita.