IHS Netherlands and MTN Nigeria Communications Plc expand service contract
IHS Netherlands affiliates INT Towers Limited, IHS (Nigeria) Limited and IHS Towers NG Limited have reached an agreement with MTN Nigeria Communications Plc to expand the scope of the current service contract and amend the currency conversion provision for Tower services.
IHS has concluded a renegotiation of certain terms of its tower rental agreements with MTN Nigeria. These include an increased focus on rural connectivity and fiber access.
Furthermore, the changes will result in updated pricing for future technology upgrades and backhaul in the network, whilst agreeing to move the reference rates for conversions to Naira from the Central Bank of Nigeria's office rate to the Nigerian Autonomous Foreign Exchange rate.