MTN Nigeria reallocates network sites to boost efficiency and growth
ABUJA — MTN Nigeria, a leading telecommunications company, is advancing its infrastructure strategy by reallocating approximately 2,500 network sites from IHS Towers to American Tower (NYSE:AMT) Corporation (ATC). This move is part of a detailed bidding process that aligns with the company's contract renewal schedule, with most IHS agreements set to conclude by 2029.
At the Capital Markets Day event held today at the Transcorp Hilton in Abuja, MTN Nigeria's CEO Karl Toriola presented the company's 'Ambition 2025' strategy. He emphasized the importance of continually reassessing tower contracts to enhance broadband services and maintain technological leadership. Toriola also highlighted MTN's commitment to sustainability and green energy initiatives, which are integral to reducing operating expenses and promoting growth in Nigeria’s burgeoning digital economy.
The event was an opportunity for high-level government representatives to discuss with investors the macroeconomic reforms aimed at unlocking Nigeria’s potential for economic expansion. Key topics included financial inclusion and increasing connectivity access, which are considered essential for driving inclusive growth through private sector investment in the telecommunications sector.
Earlier in the week, MTN Nigeria's CFO Modupe Kadri provided details on the network site reallocation from IHS to ATC. The strategy is designed to improve energy efficiency within the company's tower operations and manage expenses more effectively, particularly in light of foreign exchange impacts.
The reallocation of network sites and the ongoing discussions at the CMD event underscore MTN Nigeria’s strategic focus on operational efficiency and its role in fostering a digital
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