Telecom
MTN Nigeria Renegotiates Tower Lease Agreement with IHS, ATC Nigeria
MTN Nigeria has renegotiated its existing infrastructure sharing and master lease agreements with IHS Tower Nigeria Limited and ATC Nigeria Wireless Infrastructure Solutions Limited (ATC) .
The Telecom firm stated this on Wednesday through a notification letter sent by Uto Ukpanah, its Company Secretary to the Nigerian Exchange Limited and the investing public noted that the Company and IHS have successfully renegotiated binding commercial terms of the existing infrastructure sharing and master lease agreements.
This according to the company was one of the initiatives outlined at the EGM to support the recovery of our capital position.
The notification further stated that “the terms of the amendments are effective from 1 April 2024, and the existing contracts have been extended to 31 December 2032.
“Prior to the renegotiation, the site leases expired variously between December 2024 and December 2029, with the majority expiring in 2029.
“The revised terms substantially reduce the US dollar-indexed component of the leases linked to a discounted US consumer price index (CPI), making the leases majority naira-based, as well as set a cap for the naira CPI escalator component.
“They also remove technology-based pricing, allowing payments for new upgrades based on tower space and power.
“The renegotiated agreements incorporate an energy cost component indexed to the cost of providing diesel power; however, the terms also provide for some discounts and incentives over the life of the contracts.
“ The renegotiated terms aim to mitigate macro risks affecting our business as well as support margin recovery and the resolution of our negative equity position.
“In addition, MTN Nigeria, ATC Nigeria Wireless Infrastructure Solutions Limited (ATC) and IHS (the Parties) have reached a mutual agreement regarding the approximately 2,500 sites that were awarded to ATC from the IHS portfolio, per our announcement on 7 September 2023.
“Following trilateral discussions commenced in Q2 2024, the parties have agreed to a revised allocation of sites in terms of which ATC will provide tower services for up to approximately 2,100 sites; while IHS will manage up to approximately 1,400 sites.
“This includes 1,000 new MTN Nigeria sites to be rolled out over the next few years and allocated between the two tower operators”.
Commenting on the agreements, Karl Toriola, CEO of MTN Nigeria said: “We are pleased with the successful renegotiation of our tower lease agreements with IHS and ATC, which reflect a collaborative and mutually beneficial outcome aligned with the long-term interests of all parties involved.
“We anticipate that these amendments will unlock significant network cost efficiencies in line with our expense efficiency programme to improve our operating margins and capital position over the medium term.”
Telecom
IHS Nigeria Partners with the NCMM to Digitize Nigeria’s Cultural Heritage
IHS Nigeria, part of the IHS Holding Limited (“IHS Towers”) group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count has announced a strategic partnership with the National Commission for Museums and Monuments (NCMM) and the Federal Ministry of Art, Culture, and the Creative Economy (FMACCE) to support the digitization of Nigeria’s cultural heritage.
This collaboration aims to make Nigeria’s historical artifacts, artworks, and cultural monuments more accessible to the public through a digital museum.
The partnership between IHS Nigeria, NCMM, and FMACCE will leverage technologies to digitalize and display artifacts online, helping to preserve and showcase Nigeria’s cultural heritage. It marks a significant step towards modernizing the preservation and dissemination of Nigeria’s cultural assets, making them more accessible to a broader audience.
The digital museum is the first significant project under the Honorable Minister’s Digital Culture Initiative and is designed to provide a platform for the exploration and appreciation of Nigeria’s diverse cultural heritage. This partnership underscores IHS Nigeria’s commitment to sustainability and its role in helping foster cultural preservation and digital education.
Mohamad Darwish, CEO, IHS Nigeria, commented, “We are excited to partner with the National Council for Museums and Monuments and the Federal Ministry of Art, Culture and the Creative Economy on this groundbreaking initiative. As a company deeply rooted in Nigeria, we recognize the importance of preserving, protecting, and promoting our cultural heritage.
“This partnership also aligns with our commitment to sustainability, education, economic growth, and community development. We look forward to contributing to the preservation of Nigeria’s cultural legacy”.
Hannatu Musawa, Nigeria’s Minister of Art, Culture and the Creative Economy, commented, “We are delighted to partner with IHS Nigeria on this initiative which aligns with His Excellency President Bola Ahmed Tinubu’s Renewed Hope Agenda, and our Ministry’s 8-point plan on fostering strategic partnerships.
“I am particularly pleased that this initiative, which is the first significant project under our Digital Culture Initiative, embodies our commitment to innovation, global partnerships, and the sustainable growth of our creative industries, positioning Nigeria as a leader on the global stage.”
Olugbile Holloway, Director General, National Commission for Museums and Monuments, commented, “We are grateful to IHS Nigeria for their support in this remarkable initiative.
“We believe that to keep ahead of current trends and appeal to a younger demographic, it is imperative that a digital experience of our rich cultural heritage is created and made available to the public.
“The digital museum will serve as an invaluable resource for researchers, students, and the general public, both in Nigeria and around the world, and will play a crucial role in the preservation of our national heritage.”
Telecom
Google Faces Major Antitrust Action: DOJ Demands Chrome Sale
In a significant escalation of its antitrust battle against Google, the US Department of Justice (DOJ) on Wednesday, November 20, urged a federal judge to break up the tech giant by ordering the sale of its widely used Chrome browser.
The DOJ also called for an end to Google’s agreements to be the default search engine on smartphones and proposed measures to prevent it from leveraging its Android operating system to dominate the market.
The DOJ suggested that if these remedies fail, Google should be compelled to divest Android entirely. The proposals mark one of the most aggressive antitrust moves against a major tech company in decades, with regulators seeking to curtail Google’s alleged abuse of its market power.
Google’s president of global affairs, Kent Walker, criticized the filing, accusing the DOJ of pursuing a “radical interventionist agenda.” Walker warned that the proposed breakup would disrupt Google’s product ecosystem, harm innovation in artificial intelligence, and threaten America’s global technological leadership.
This case represents a historic shift in the US government’s approach to regulating tech companies, following decades of relative inaction since the failed attempt to break up Microsoft in the early 2000s.
Google is set to respond in a filing next month, with a hearing scheduled for April before Judge Amit Mehta. The judge’s August ruling declared Google a monopoly, setting the stage for this next phase of the legal battle. Any decision is likely to be appealed, potentially taking years to resolve and possibly reaching the US Supreme Court.
The case’s future could also hinge on political changes, as President-elect Donald Trump’s incoming administration may take a different approach to antitrust enforcement. Trump has previously criticized Google for alleged bias against conservatives but has also expressed skepticism about breaking up major tech companies.
The DOJ’s proposals come amid broader efforts to address the dominance of big tech, with five antitrust cases currently pending against Amazon, Meta, Apple, and Google. These cases, brought under the Biden administration, are expected to shape the regulatory landscape for years to come.
Telecom
Zoho Named Exclusive Technology Partner by Dubai Racing Club
Dubai Racing Club (DRC) has named Zoho Corporation, a leading global technology company, as its exclusive technology partner for the next two years.
This partnership will focus on digitising DRC’s operations, with the aim of enhancing the club’s high-profile events and ensuring a seamless, world-class experience for visitors, participants, and staff.
The announcement was made during a signing ceremony at Meydan Racecourse, attended by His Excellency Ali Al Ali, CEO and Board Member of the Dubai Racing Club, and Prem Anand Velumani, Associate Director of Strategic Alliances, MEA at Zoho.
As the organiser of major events, including the prestigious Dubai World Cup, the DRC will leverage Zoho’s comprehensive suite of digital solutions through Zoho One, the operating system for businesses, to streamline key operations.
By implementing Zoho One, the club will enhance various aspects of its event management, from ticketing and sales to logistics and customer relationship management (CRM).
HE Al Ali commented on the partnership: “We are pleased to welcome Zoho as our official technology partner this season.
“Technology is a cornerstone of our long-term vision for the Dubai Racing Club and the continued development of the horse racing industry.
“Zoho brings a wealth of expertise, and we look forward to collaborating with their team to create tailored solutions for our clients. From sophisticated CRM systems and streamlined accreditation processes to innovative mobile applications designed to enhance the experience for horse owners and racegoers, we are focused on setting new benchmarks for excellence.
“This partnership brings us one step closer to establishing Meydan as one of the most technologically advanced racecourses globally.”
The DRC will leverage Zoho’s web and mobile applications to improve accessibility and communication across platforms.
Zoho CRM will play a pivotal role in managing ticketing and sales, offering a seamless and personalised experience for attendees.
Zoho’s apps will also support critical operational functions such as accreditation, simulcasting, parking and barricade management, and order management, all of which will be fully digitised to enhance accessibility and efficiency.
“We are thrilled to be the exclusive technology partner of the Dubai Racing Club, an iconic institution that plays a central role in global equestrian sports,” said Prem Anand Velumani, MEA at Zoho.
“This partnership presents an exciting opportunity to demonstrate how Zoho’s comprehensive suite of solutions can support DRC’s operations and its commitment to excellence.
“By utilising Zoho’s customisable tools, DRC will be able to digitise and optimise critical operations, driving greater collaboration, agility, and a seamless guest experience.
“We are proud to help position the DRC at the forefront of digital transformation in the regional and global equestrian sports industry.”
Zoho’s solutions will also streamline guest and VIP stand management, ensuring a smooth experience for high-profile visitors.
Zoho’s apps will assist with venue navigation, while an all-in-one analytics dashboard will provide the DRC’s internal team with real-time data to evaluate performance and track ROI across all operational areas.
This integrated approach will allow the DRC to optimise its event management processes and deliver an exceptional experience for participants, staff, and guests alike.
The two-year partnership will see the DRC fully harness Zoho’s suite of solutions to drive digital transformation across all aspects of its operations.
As the club continues to grow, Zoho’s innovative digital solutions will play a pivotal role in ensuring the optimisation and success of every operational facet—from event coordination to customer engagement.
Known for hosting some of the most prestigious equestrian events in the world, the DRC attracts audiences and participants from around the world.
The Dubai Racing Club’s next meeting at the Meydan Racecourse is scheduled for November 22, 2024.
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