MTN is moving to take full control of telecom tower assets across several African markets after agreeing to acquire the remaining stake held by IHS in a transaction valued at about $6.2 billion. The deal consolidates ownership of thousands of towers that underpin mobile connectivity across the region and signals a strategic pivot toward infrastructure control at a time of surging data demand.
For years, telecom operators pursued asset light strategies by selling tower portfolios to specialized infrastructure companies and leasing them back to reduce capital expenditure. That model is now being reassessed as operators seek tighter control over network quality, rollout speed, and long term operating costs, particularly as 4G expansion continues and 5G deployment begins in parts of Africa.
Why it matters
Telecom infrastructure is becoming core strategic capital again. Ownership of towers can improve margins over time by reducing lease payments while giving operators more flexibility to expand coverage and introduce new services. In markets where mobile connectivity underpins banking, commerce, and public services, infrastructure control also has broader economic implications.
The context
African telecom operators have faced currency volatility, rising energy costs, and competitive pricing pressure, all of which have squeezed profitability. Bringing assets back onto the balance sheet reflects a shift toward long term efficiency rather than short term capital relief. For infrastructure investors, the transaction highlights portfolio repositioning as global financing conditions tighten.
By the numbers
The transaction is valued at approximately $6.2 billion
It involves thousands of tower sites across multiple African countries
Telecom towers represent one of the fastest growing infrastructure asset classes linked to digital economies
What to watch
Regulatory approvals across jurisdictions will determine the timeline. The move could also influence whether other African operators reconsider tower ownership strategies, potentially reshaping partnerships between telecom companies and independent infrastructure firms across the continent.
CABN Contributor 
CABN Staff Writer