MTN Nigeria is now focusing on revising tower contracts and embracing green energy initiatives, according to leadership of the telecom giant.
Karl Toriola, chief executive officer (CEO), and Modupe Kadri, CFO made this known while engaging with investors and government officials, discussing the reallocation of tower assets and the broader ‘Ambition 2025’ Strategy at a recent Capital Markets Day (CMD) event in Abuja,
Toriola announced that MTN Nigeria would regularly review its tower contracts to enhance vendor efficiency and optimize operational performance.
This move is part of a broader strategy to maintain robust broadband development while managing foreign exchange volatility and rising energy costs.
The company is also placing a strong emphasis on cost-effectiveness in its expansion efforts, particularly through the use of green energy solutions.
During the CMD held on Tuesday and Wednesday, Toriola detailed the shift in site ownership from IHS Towers to American Tower (NYSE: AMT) Corporation (ATC). ATC’s stake is poised to grow from 13% to 26% after acquiring sites from IHS, whose contracts are set to expire between 2024 and 2029.
The changeover comes after competitive bidding that saw IHS, currently holding a significant 60% share, lose sites to ATC due to governance issues.
