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MTN Mulls Sale of $2.3Bn Stake in IHS Towers to Cut Debt

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MTN Group could cash in from an Initial Public Offering (IPO) , of Africa’s largest telecommunications towers company by selling a stake valued by the wireless carrier at about R27bn($2.3bilion), according Bloomberg.

 

IHS Towers, of which MTN owns about 29%, is planning an IPO in New York, people familiar with the matter said in 2017.

 

If the tower operator went ahead with the share sale and the valuation was appropriate, MTN will look to sell out, Ralph Mupita, chief financial officer said.

 

“It is not strategic to lock up so much capital,” he said.

 

Although MTN’s stake in IHS Towers is important, it has been earmarked by the company as an asset for sale.

IHS, Helios Towers Africa and Eaton Towers are all looking to take advantage of high industry valuations to sell shares and fund expansion, people familiar with the situation said in November.

 

Helios confirmed the plans earlier in March, saying it would seek an IPO in London and Johannesburg, and that it expected at least 25% of its shares to be freely traded after the sale.

 

IHS Towers declined to comment. MTN, Africa’s largest cellphone company by sales, planned to cut its debt, Mupita said.

 

Borrowings rose to R57bn in 2017 from R52bn in 2016. The shares rose 1.2% to R33.60 as of 3.30pm in Johannesburg, valuing the company at R52bn.

 

IHS is owned by French investment firm Wendel, Goldman Sachs and MTN.

 


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Telecom

Galaxy Backbone Celebrates Excellence and Innovation in Its People

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Galaxy Backbone (GBB) proudly recognizes the outstanding efforts of its employees, whose dedication and innovation have significantly contributed to the organization’s success and recognition in recent times.

These achievements underscore GBB’s unwavering commitment to excellence in service delivery and pioneering technological solutions that advance Nigeria’s public sector.

The development, launch, and implementation of the GBB GovMail Email Platform in November 2024 by the Head of the Civil Service of the Federation, marked a transformative milestone in Nigeria’s digital transformation journey. GovMail provides Civil and Public servants across the public sector with a secure, efficient, and reliable platform for official communication.

By fostering seamless collaboration and ensuring the integrity of government data, GovMail directly supports the federal government’s vision for a digitally enabled public sector that prioritizes accountability and efficiency.

This groundbreaking initiative was driven by an exceptional teamwork, led by GBB’s, Head of Cloud Operations and supported by GBB’s team of Cloud Solution Specialists. Their innovation and “can-do spirit” embody GBB’s commitment to delivering cost-effective technology solutions that empower governance and enhance service delivery to citizens.

In recognition of their outstanding contributions, the team members were formerly recognized and commended by GBB’s Executive Management, led by the Managing Director/CEO, Professor Ibrahim A. Adeyanju. The expressed delight by the team’s spirit, commitment and dedication and encouraged other members of Staff to emulate their great work for GBB, the Public sector and the nation at large.

In a similar way, GBB also commended a member of its Datacentre Team for his exceptional skill and dedication in responding to a critical incident at the National Shared Services Centre (NSSC) in 2024. His swift actions safeguarded critical infrastructure, and ensured uninterrupted business continuity. These Individuals have in their unique ways, shown professionalism and technical expertise, which aligns with GBB’s core values.

These commendations highlight GBB’s dedication to fostering a culture of excellence, innovation, and recognition. Through initiatives like GovMail and the unwavering efforts of its talented workforce, GBB continues to lead the charge in advancing Nigeria’s digital transformation agenda and strengthening governance through cutting-edge technologies.


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FG, WIOCC Partner to Deliver Internet to 3m Homes with $10m Investment

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Federal government has signed a Memorandum of Understanding (MoU) with the West Indian Ocean Cable Company (WIOCC) to provide internet facilities and services to three million Nigerian homes.

FG, WIOCC Partner to Deliver Internet to 3m Homes with $10m Investment

The project, backed by a $10 million initial investment from WIOCC, aims to enhance internet access in both urban and rural areas, bridging the digital divide and promoting inclusive development.

Bosun Tijani, minister of Communications, Innovation, and Digital Economy, signed the agreement on behalf of the Federal Government, while Darren Bedford, WIOCC’s group chief development officer, signed on behalf of the company during the ceremony held in Abuja.

Tijani noted that the initiative would facilitate the connection of fiber optic cables to Nigerian homes, schools, hospitals, and public offices, enabling reliable internet services.

“The partnership will create opportunities for training Nigerians and supporting the local manufacturing of accessories such as batteries,” Tijani said.

The Minister said that widespread internet connectivity in Nigerian homes and offices would soon drive down the prices of data, calls, and SMS, as Nigerians would have alternative platforms for internet access across the country, beyond just their phones.

Tijani explained that the development is a key part of the current administration’s efforts to position Nigeria as a $1 trillion economy in the coming years, with both the government and private sector making aggressive investments in digital infrastructure.

He added that once completed, the project would provide Nigerians in cities with a minimum internet speed of 25Mbps for downloads at home, while those in rural areas would have at least 10Mbps download speeds in their homes.

According to him, “This company is already making significant investments in Nigeria, starting with their submarine cable investment. However, what’s even more important is that they are bringing something long overdue for our people – fiber-to-home connectivity.

“Imagine needing to use the internet – this is the global standard. You shouldn’t have to wait to use it on your phone. The ability to access top-quality, world-class service is only possible if you have that kind of connection. Our goal is to make this mainstream, so it’s not just available in a few high-end estates or parts of Lagos. They are committing to connecting around 3 million homes in the coming years.”

In his remarks, Darren Bedford, of WIOCC, said that the MoU signed with the Federal Government aimed to bring internet directly to homes, hospitals, schools, and other key establishments.

Bedford stated that the initial phase of the investment would cost his company approximately $10 million, with plans to expand coverage to more states, local governments, and institutions.

He highlighted that over 40,000 homes and several institutions have already been connected with fiber infrastructure for internet services. However, he acknowledged challenges, including Right of Way (RoW) issues and insecurity in certain states.

He emphasized the significant impact of the project, noting that most of Nigeria remains unconnected, with people and businesses relying on mobile internet rather than high-speed broadband. “This project is the first step in creating an environment where Nigerians can participate in the global digital economy,” he said.

With an initial target of connecting 3 million homes, Bedford explained that the goal is to set realistic expectations, allowing for reassessment during the rollout.

He suggested that the target could grow to 10 or even 30 million homes as the project progresses

 

 

 


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SERAP Drags Tinubu, Others to Court over ”Arbitrary” Telecom Tariff Hike

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President Bola Tinubu, and SERAP
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Socio-Economic Rights and Accountability Project (SERAP), has filed a lawsuit against President Bola Tinubu, over the alleged ”arbitrary, unconstitutional, unlawful, unfair, and unreasonable 50 percent telecom tariff hike by the Nigerian Communications Commission (NCC).

SERAP Drags Tinubu, Others to Court over ”Arbitrary” Telecom Tariff Hike

President Bola Tinubu, and SERAP

Also joined in the suit as defendants are the NCC, which recently approved a 50 percent hike in telecom tariffs.

The average price of calls will rise to N16.5 per minute from N11; the cost of 1GB of data will rise to N431.25 from N287.5/GB; and SMS prices to N6 from N4, by the increase.

The suit, with number, FHC/ABJ/CS/111/2025, was filed last Friday at the Federal High Court, Abuja, SERAP is asking the court to determine “whether the unilateral decision by the NCC to authorise telcos to hike telecom tariffs by 50 percent is not arbitrary, unconstitutional, unlawful, unfair, unreasonable and inconsistent with citizens’ freedom of expression and access to information”.

SERAP is also asking the court for a declaration that the unilateral decision by the NCC to authorise telcos to hike telecom tariff by 50 percent is arbitrary, unfair, unreasonable and inconsistent and incompatible with citizens’ freedom of expression and access to information and therefore unconstitutional and unlawful.

An order of interim injunction, according SERAP is seeking to restrain NCC, its officers, agents, privies, assigns, or any other person or persons acting on its instructions from further implementing, enforcing and doing any act to give effect to the decision of the NCC authorizing telecom tariff hike by 50 percent.

SERAP, in the suit argued that the legal and constitutional provisions as well as international standards on freedom of expression and access to information constitutes the repository of legality, adding that the requirements of legality constrains the exercise of statutory powers by the NCC to authorise any increase in telecom tariffs.

The suit filed on behalf of SERAP by Ebun-Olu Adegboruwa, SAN, impose clear duties of fairness and reasonableness on the NCC in the exercise of its powers to authorize the telecom tariff hike by 50 percent, which is the subject-matter of this suit.

The NCC is required under the legal provisions on consumers’ rights and constitutional and international standards on freedom of expression and access to information to base its decision on reasonable interpretations of its enabling statutes and guidelines and other relevant legal frameworks, and to follow due process.


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