IHS Towers Strengthens Portfolio and Partnerships for Long-Term Success

IHS Towers has been making strategic moves to strengthen its portfolio and partnerships for long-term success. The company has been actively expanding its presence in Africa, with a particular focus on Nigeria.

IHS Towers has a strong presence in Nigeria, with over 23,000 towers across the country. This significant investment in infrastructure has helped the company establish itself as a key player in the African market.

Through strategic partnerships, IHS Towers has been able to increase its reach and capabilities. The company has partnered with major mobile network operators to provide them with a wide range of services, including site acquisition, deployment, and maintenance.

These partnerships have not only helped IHS Towers expand its portfolio but also provided the company with access to new technologies and expertise.

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IHS Towers was founded in Lagos, Nigeria in 2001 by Sam Darwish, with a focus on building and operating communication infrastructure in emerging markets.

The company has expanded rapidly, operating across three continents and owning and managing over 39,000 towers in 8 countries.

IHS launched colocation services in 2009 and had acquired MTN's tower portfolios in several countries by 2014.

The company's operations are supported by a group of international shareholders, including Emerging Capital Partners, International Finance Corporation, and Wendel.

IHS has also increased its use of solar energy and hybrid power systems to reduce its overall emissions, with over 45% of its African operations having solar power available by December 2020.

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IHS Towers was founded by Sam Darwish in Lagos, Nigeria, in 2001, specializing in building and operating communication infrastructure throughout emerging markets.

The company launched colocation services in 2009 and had acquired MTN's tower portfolios in Côte d'Ivoire, Cameroon, Zambia, and Rwanda by 2014.

IHS Towers operates across three continents, owning and managing over 39,000 towers in 8 countries, including Cameroon, Côte d'Ivoire, Nigeria, Rwanda, South Africa, Zambia, Brazil, and Colombia.

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The company operates six business segments: colocation and lease amendments; new sites; inbuilding solutions, or distributed antenna system (DAS); small cell; fiber connectivity; and rural telephony.

IHS increased its use of solar energy and hybrid power systems to reduce its overall emissions; by December 2020, over 45% of its African operations had solar power available.

IHS is supported by a group of international shareholders including Emerging Capital Partners, International Finance Corporation, Wendel, Goldman Sachs, African Infrastructure Investment Managers, Investec, the IFC's Global Infrastructure Fund, FMO, Korea Investment Corporation, and Singapore sovereign wealth fund, GIC.

The company's Board includes Jeb Bush, Ursula Burns, and Carolina Lacerda, who bring a wealth of experience and expertise to the table.

IHS has been actively streamlining its portfolio, with a significant decline in the number of towers it operates worldwide. As of March 31, 2025, the company had 39,212 towers, down from 40,278 a year earlier.

This decline represents a 2.6% reduction in the company's tower count. The main driver of this decline has been the disposal of towers rather than natural attrition.

Nigeria remains a key market for IHS, despite recent tenant losses. The company sees Nigeria as a central part of its strategy going forward.

South Africa and Brazil are identified as strong growth corridors for IHS, with the potential for long-term tenancy contracts and higher colocation opportunities.

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IHS Towers has a strong commitment to ESG and sustainability. Its purpose is to have a positive impact on communities in the countries where it operates.

The company's investments in telecoms towers help connect individuals, businesses, and governments, increasing opportunities for expansion. With increased connectivity, people can access essential services, education, and economic opportunities.

IHS Towers' sustainable development strategy has four pillars: Education and Economic Growth, Ethics and Governance, Employees and Communities, and Environment and Climate Change. These pillars guide the company's efforts to create a positive impact.

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The company's focus on Education and Economic Growth aims to improve the quality of life for individuals and communities. By investing in education and economic development, IHS Towers can help create a more prosperous future.

IHS Towers' commitment to Ethics and Governance ensures that the company operates with integrity and transparency. This approach helps build trust with stakeholders and promotes responsible business practices.

By prioritizing Employees and Communities, IHS Towers fosters a positive work environment and engages with local communities to address their needs. This approach helps build strong relationships and promotes social responsibility.

The company's focus on Environment and Climate Change aims to reduce its environmental footprint and mitigate the impact of climate change. By adopting sustainable practices, IHS Towers can help protect the environment for future generations.

To learn more about IHS Towers' ESG and sustainability efforts, you can read its 2024 Sustainability Report.

IHS Towers has delivered a strong financial performance in the first half of 2025. Despite lower spending and a reduced asset base, the company's revenue rose 5.2% year-on-year to $439.6 million in Q1.

Organic growth was a significant contributor, hitting 25.6% in Q1. This growth is a testament to the company's ability to adapt and thrive in a changing market.

Revenue for Q2 came in at $433.3 million, down 0.5% but still ahead of market expectations. This shows that the company is not just meeting but also exceeding expectations.

Adjusted EBITDA reached $252.6 million in Q1 and $248.5 million in Q2. This is a significant improvement from last year's numbers.

Net income improved to $30.7 million in Q1 and $32.3 million in Q2, compared to last year's loss. This is a clear indication of the company's ability to generate strong cash flows.

Management credits disciplined cost control, targeted reinvestment, and efficient contract management for the performance.

IHS Towers has a significant presence in Nigeria, with a notable example being their renegotiation of a lease agreement with MTN Nigeria Communications PLC. for 2,500 towers.

MTN Nigeria Communications PLC. has renegotiated a lease agreement with IHS (Nigeria) Limited, INT Towers Limited, and IHS Towers NG Limited.

IHS Towers has also partnered with Airtel Africa, renewing a five-year tower partnership that includes Airtel Nigeria acquiring 3,950 tenancies over the upcoming five years.

IHS Holding Limited is one of the largest independent owners, operators, and developers of shared communications infrastructure in the world.

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IHS Towers has made a significant pivot towards capital discipline, shifting from rapid expansion to a focus on consolidation, operational efficiency, and balance sheet strength.

The company has been paying down high-interest debt, reducing its net leverage from 3.7x at the end of 2024 to 3.4x in Q1 2025, using proceeds from asset disposals.

IHS Towers has also lowered its full-year 2025 capex guidance to between $240 million and $270 million, prioritizing margin improvement and financial resilience over market share gains.

Efficiency programmes, such as Nigeria's "Project Green", have reduced the need for upgrades by optimising existing infrastructure.

This focus on financial discipline is delivering sustained improvements in profitability and cash flow generation, according to CEO Sam Darwish.