MTN sells towers in Cote d’Ivoire, Cameroon
CAMEROON| Oct. 12, 2012, 5:41 p.m.
MTN and IHS Holding Limited have entered into definitive agreements pursuant to which IHS will acquire up to 931 mobile network towers from MTN Cote d’Ivoire for USD141 million and up to 827 towers from MTN Cameroon for USD143 million.
Under the definitive agreements, IHS will be a 100% shareholder of the tower companies to be set up in each country to manage the towers and other passive infrastructure. MTN CIV and MTN CMR will, on commercial terms, become the anchor tenants on the towers being purchased for an initial term of ten years.
“The benefits to MTN of monetising our non-core assets and outsourcing passive infrastructure to experienced independent companies such as IHS are considerable,” said Sifiso Dabengwa, Group President and CEO of MTN Group. “With a continued commitment to improving the service to our customers, a reduction of our capital expenditure requirements allows us to concentrate on investing in our customer base and implementing additional services to meet the demand for innovative products and data.”
The sale of towers is in line with MTN’s infrastructure sharing strategy aimed at the monetisation of its assets and cost optimisation. The agreements include a commitment from IHS to roll out a build-to-suit programme to support MTN’s future requirements in both countries, as well as pursue opportunities to build tower sites for other wireless operators.
“We are delighted to build on our successful partnership with MTN for whom we have previously built and maintained sites in Nigeria and Sudan. Our strong technical capabilities and operational expertise reinforce MTN’s performance-oriented approach and high standards of service,” said Issam Darwish, CEO of IHS.
“This transaction is the next step in our strategy for expansion across Africa; we continue to invest in countries with attractive economic and demographic profiles. This transaction firmly positions IHS as a leading mobile tower infrastructure company in sub-Saharan Africa with resources for continued expansion and technological innovation.”
Following closing of the contemplated transactions, IHS will become the largest independent tower company in West Africa with a presence in the four largest economies in the region; Nigeria, Ghana, Cameroon and Cote d’Ivoire.
The transactions are expected to close during the first quarter of 2013, subject to customary closing conditions.
MORE CAMEROON NEWS
MINESEC, MTN Foundation seek best ICT use in teachingMINESEC and the MTN Foundation in Cameroon have launched the second edition of a competition to find the teacher making the best use of ICTs for teaching. Read More
Cameroon, Chad sign fibre optic partnershipCameroon and Chad have signed a vital telecom partnership that could change the way their populations use ICTs. Read More
Cameroon college gets affordable, quality Keepod devicesTeaching and learning have since dramatically changed and improved at the College Socka Bongue in Cameroon thanks to the supply by Keepod of 650 computing devices and 26 laptops, with each device costing as little as US$7. Read More
MTN Cameroon rewards academic excellence in telecomsExcellence scholarships have been awarded to 145 students of the National Advanced School of Posts and Telecommunications and the National Advanced School of Engineering. Read More
MTN Cameroon appoints CMOThe Chief Executive Officer of MTN Cameroon, Mr. Karl O. Toriola, has announced the appointment of Mrs. Linda Kouam Kamche to the position of Chief Marketing Officer (CMO) of MTN Cameroon. Read More
MTN Cameroon recognised as Employer of choiceMTN Cameroon has won a Gold accreditation by the prestigious British Institution, “Investors In People (IiP)”, in recognition of its people management practices. Read More
MTN leads in Cameroon with 11.2 million usersThe third-quarterly verdict delivered last week by ART, the Cameroon telecom regulator, shows that MTN had 11.2 million users in Cameroon by 30 September 2014, and is therefore the leader of the mobile market in this Central African nation of 20 million people. Read More
Sustainable Energy Fund for Africa to support 72 MW solar PV power plant in CameroonThe Sustainable Energy Fund for Africa (SEFA) approved at the end of 2014 a USD 777,000 preparation grant for JCM Greenquest Solar Corporation to support the development of a 72 MW Solar Photovoltaic (PV) power plant as the first renewable energy Independent Power Producer (IPP) in Cameroon. Read More
Douala, Yaoundé internet exchange points to be ready by JuneCameroon’s two internet exchange points (IXPs), earmarked to be established in the main cities of Douala and Yaoundé, will be ready by June 2015, the ministry of posts and telecoms said. Read More
FEATURED STORYe-commerce space untapped, says phonekings head
E-commerce is the future, says the head of a new online electronics mall launched in Nigeria. Tayo Olusanya spoke to Kokumo Goodie in Lagos.
BEST READ NEWS
IN DEPTHVillagers get solar training at Barefoot College
The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.
COMPANY NEWSICT skills in Kenya to grow as ICT Authority and Microsoft sign MOU
Kenya’s ICT Authority and Microsoft have signed a Memorandum of Understanding (MOU), which will, among other things, see Microsoft offer support in providing a platform that will ...