MTN Acquires IHS Towers, Absorbing 2,762 Staff

MTN Group is set to integrate a substantial workforce of 2,762 employees from IHS Towers following its definitive agreement to acquire the telecom infrastructure firm for approximately $2.2 billion. This strategic move signals a significant shift for MTN, aiming for greater direct oversight of its critical network infrastructure across Africa, a departure from its previous reliance on independent tower operators.

The acquisition, which will see IHS Towers become a wholly-owned subsidiary of MTN, is particularly focused on strengthening MTN's presence in key markets. Nigeria represents the largest contingent of absorbed staff, with 1,559 employees, underscoring the nation's pivotal role in IHS Towers' operations and MTN's strategic priorities. Other significant employee transfers will occur in Côte d’Ivoire (158), Cameroon (145), Zambia (108), and South Africa (123), alongside 251 staff from other regions. Notably, 418 employees linked to now-divested Latin American operations are also part of the transition.

A substantial portion of the incoming workforce, totaling 1,621 individuals, comprises technical and engineering roles. This emphasis on technical expertise highlights the operational intensity required for managing and expanding telecom infrastructure. Complementary teams in finance (271), information technology (137), and human resources (101) will also join MTN, ensuring continuity in essential business functions. The company also noted the inclusion of 410 temporary employees across various departments, crucial for functions like site maintenance and compliance.

MTN has committed to safeguarding the interests of these new employees, guaranteeing base salaries and core benefits for at least one year post-acquisition. This measure is designed to ensure a stable transition and maintain team morale as the integration process unfolds. The labor relations environment across IHS Towers' operational footprint has been characterized by stability, with unionization rates varying by country but without significant work stoppages reported, suggesting a manageable integration from a labor perspective.

The acquisition comes at a time when personnel costs for tower companies are on the rise. IHS Towers reported staff expenses of $166.4 million in 2025, a 9.2% increase year-over-year, partly attributed to increased share-based compensation aimed at retaining skilled technical talent—a trend reflecting broader industry pressures. This integration allows MTN to internalize these operational capabilities, potentially leading to greater efficiencies and strategic alignment as the company pursues its broadband expansion goals across the continent.

Nigeria's market remains a cornerstone of this transaction. In 2025, IHS Towers generated $1.07 billion in revenue from Nigeria, marking a 7% year-on-year increase driven by organic growth initiatives. This robust performance occurred even as MTN Nigeria renegotiated contracts, leading to the vacation of approximately 1,050 sites in 2024. The deal's structure includes IHS Towers undertaking portfolio restructuring, allowing distressed tenants to exit sites in exchange for debt repayment, thereby streamlining liabilities ahead of the acquisition's finalization.