MTN Nigeria, a leading telecommunications company, is taking steps to bolster its infrastructure strategy by transferring approximately 2,500 network sites from IHS Towers to American Tower Corporation (ATC). This transfer is part of a detailed bidding process that aligns with the company’s contract renewal timeline, with most of the IHS agreements set to expire by 2029.
During the Financial Markets Day held at the Transcorp Hilton in Abuja, Karl Toriola, CEO of MTN Nigeria, presented the company’s “Ambition 2025” strategy. He emphasized the importance of continuously evaluating tower contracts to enhance broadband services and maintain technological leadership. Toriola also highlighted MTN’s commitment to sustainable development and green energy initiatives, which are integral to reducing operating expenses and promoting growth in Nigeria’s booming digital economy.
The event provided an opportunity for high-level government representatives to engage with investors on macroeconomic reforms aimed at unlocking Nigeria’s economic expansion potential. Financial inclusion and improved access to connectivity, seen as crucial for driving inclusive growth through private sector investment in the telecommunications sector, were among the key topics discussed.
Earlier in the week, Modupe Kadri, CFO of MTN Nigeria, provided details on the network sites transfer from IHS to ATC. This strategy aims to enhance the energy efficiency of the company’s towers and manage expenses more effectively, particularly due to currency exchange rate impacts.
The network sites transfer and ongoing discussions at the CMD event underscore MTN Nigeria’s strategic focus on operational efficiency and its role in promoting a digital economy through enhanced connectivity and sustainable practices.
1. What is the purpose of MTN Nigeria transferring network sites?
MTN Nigeria is transferring network sites from IHS Towers to American Tower Corporation (ATC) as part of its infrastructure strategy to enhance operational efficiency and improve broadband services.
2. Why is MTN Nigeria evaluating tower contracts?
MTN Nigeria is continuously evaluating tower contracts to ensure the maintenance of technological leadership and explore opportunities to enhance services.
3. What were the key topics discussed during the Financial Markets Day event?
The event focused on macroeconomic reforms, financial inclusion, and improved connectivity as essential drivers of inclusive growth through private sector investment in the telecommunications sector.
4. What are the benefits of the network sites transfer to ATC?
The transfer of network sites to ATC aims to improve energy efficiency and manage expenses more effectively for MTN Nigeria, considering the impact of currency exchange rates.
5. How does MTN Nigeria contribute to the development of a sustainable digital economy?
MTN Nigeria is committed to sustainable development and green energy initiatives, which play a crucial role in reducing operating expenses and promoting growth in Nigeria’s digital economy.