Telecom
IHS, Zain Sign $165m Tower Portfolio Agreement
Mobile communications infrastructure company, IHS has entered into agreements to buy and leaseback the passive physical infrastructure of Kuwait-based mobile operator, KSCP (Zain), for US$165 million.
According to IHS, which has operations in Europe, Middle East, and in Africa, the transaction will result in the formation of a new entity that will acquire and manage Zain’s tower assets in Kuwait, with Zain assuming a minority shareholding in the newly formed entity.
“I’m very proud of Zain team for its professionalism in completing the first agreement of its kind in the MENA region,” says Bader Al-Kharafi, Vice-Chairman and Group CEO of Zain, adding that the transaction is set to support Zain’s transformational strategy in becoming a digital lifestyle provider.
“The transaction has been approved by Kuwait’s Communication and Information Technology Regulatory Authority (CITRA), and is still subject to other regulatory and statutory approvals, and is expected to close in the first quarter of 2018,” notes IHS in a statement.
Under the terms of the transaction, Zain is selling only its passive, physical infrastructure to the new company and will retain its intelligent software, technology, and intellectual property with respect to managing its network.
IHS says upon completion, the transaction will be the first sale and leaseback of telecom towers in the Middle East region by a licensed mobile operator, and creates the first independent tower operator of scale in the region. “This transaction is part of IHS’ broader strategy to apply its operational expertise from its international portfolio further throughout emerging markets.”
In Africa, IHS has operations in Nigeria (15,754 towers), Cameroon (2,408 towers), Cote d’Ivoire (2,560 towers), Rwanda (804) towers, and Zambia (1,966 towers).The company claims to be the largest independent tower operator in Europe, Middle East, and Africa by tower count and the third largest independent multinational tower company globally.
Frost & Sullivan analysts estimate that the mobile network tower industry in Sub-Saharan Africa will be worth approximately US$1.5 billion in the next four years. “This will be on the back of increased take-up of tower management arrangements in some markets, with authorities in various regions also pressing telecom firms to share infrastructure.”
In August, the take-up of tower management arrangements in South Africa was seen to be in stark contrast to establishments in Nigeria, where 77% of the country’s 28,241 towers are owned by independent towercos, according to Tower Exchange. Etisalat, MTN, and Airtel in Nigeria had divested their portfolios through transactions with IHS Towers and American Tower Corporation.
During January 2017, MTN exchanged its 51% share of Nigeria Tower InterCo B.V. (the parent of Nigerian telecoms tower operator INT Towers Limited) for an increased stake in IHS.
MTN’s stake in IHS increased to approximately 29% from approximately 15%. “This transaction enables MTN to simplify its tower ownership structure and diversify its exposure to tower infrastructure across the IHS Group,” said MTN.
In July last year, IHS completed the acquisition of Helios Towers Nigeria Limited’s 1,211 diversified tower sites throughout Nigeria.
TECNO SPARK 30 city tour made a memorable stop at Ikeja City Mall on November 15th, bringing with it an infectious energy that electrified the entire city.
As the event unfolded, it was clear that this was more than just a product showcase – it was an immersive experience designed to thrill and delight.
The day’s festivities kicked off with the iconic TECNO SPARK 30 transformer bus, painted in bold red and blue hues, rolling into action.
The bus served as the hub for a games grotto, where fans immersed themselves in thrilling digital games and adventures.
Outside, the excitement spilled over, with attendees engaging in friendly competitions of Jenga, Monopoly, Ludo, and chess.
These games sparked laughter, playful banter, and a sense of camaraderie among strangers.
As the games heated up, so did the rewards. Purchasers of the TECNO SPARK 30 Pro enjoyed a N20,000 discount and a chance to win up to 100% cashback by participating in the games.
The atmosphere was electric, with cheers of victory, enthusiastic applause, and celebratory high-fives.
The excitement reached a fever pitch with the arrival of tech and lifestyle creator Kagan, accompanied by Big Brother Naija Season 9 stars Victoria and Ruthee.
The trio dove into the action, competing in games and claiming victory. They were awarded TECNO-branded gift items, earning cheers and applause from the thrilled crowd.
The event was an unforgettable experience, leaving a lasting impression on all who attended.
During peak shopping days, this threat intensifies.
Here’s what happens: with the surge in online deals, more employees may be shopping from their work computers, feeling that Cyber Monday is a legitimate time to do so.
This increases the risk of them clicking more freely and potentially exposing the organization to malicious links or phishing attacks.
To keep your organization safe, encourage your team to follow these simple tips:
• Don’t click deals in email that look too good to be true or are from businesses you don’t have accounts from – these could be phishing emails hoping to bait you into clicking links to bogus, malicious web sites.
This season, small steps can make a big difference in protecting against cyber threats.
MTN Nigeria Communications Plc has announced plans to issue up to N50bn in Series 13 and 14 Commercial Paper Notes under its N250bn Commercial Paper Issuance Programme.
This proposed issuance aligns with the company’s strategy to broaden its funding sources and strengthen its liquidity position.
The proceeds from the issuance are earmarked to support MTN Nigeria’s short-term working capital needs, enabling the company to sustain its operations and meet financial obligations effectively.
In a statement to the Nigerian Exchange Limited (NGX) and the investing public, MTN Nigeria emphasized its commitment to maintaining financial stability and operational efficiency.
According to the statement signed by Uto Ukpanah, company secretary, further details regarding the structure, pricing, and timeline of the issuance will be disclosed to the market in due course, as MTN Nigeria continues to engage with stakeholders and regulatory authorities.
MTN Nigeria recently completed its series 10 commercial paper issuance under its upsized N250bn commercial paper issuance programme.
The telecom giant said it sought to raise N72.1bn and the offer recorded 149 per cent subscription with N72.1bn issued.
The 266-day commercial paper was issued on 29 November 2023 at a yield of 16 per cent.
The CP issuance aligns with MTN Nigeria’s strategy to continue diversifying its funding sources and reducing its average cost of debt. The proceeds will be applied towards short-term working capital requirements.
Karl Toriola, chief executive officer, MTN Nigeria said. “We are pleased with the support received from the investor community, having recorded a 149 per cent subscription from a broad range of investors. This reflects NTN Nigeria’s robust financial capacity, brand strength, and market leadership amidst the upward pressure on interest rates”
Stanbic IBTC Capital Limited played the role of Arranger and Dealer with ARM Securities Limited. Chapel Hill Denham Advisory Limited, Coronations Marchant Bank Limited, FCMB Capital Markets Limited, Quantum Zenith Capital &Investments Limited, Rand Marchant Bank Limited, and Vetiva Capital Management Limited played the role of Joint Dealers on the transaction.
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