MTN wins shareholder nod to take full control of tower firm IHS

What's the deal? JSE-listed MTN GroupDealroom has a profile for this one. Try Dealroom → has secured IHS HoldingDealroom has a profile for this one. Try Dealroom → shareholder approval to buy the remaining shares it does not already own in the tower company, lifting its stake from 24.7% to 100%.

Why now? MTN announced the plan in February 2026. At an IHS extraordinary general meeting on Tuesday, shareholders approved the transaction by special resolution, clearing the required two-thirds majority.

What's the endgame? Towers sit at the centre of MTN's Ambition 2030 three-platform strategy. Chief executive officer Ralph Mupita called them "a critical value-creation driver that will strengthen MTN's strategic and financial position for the future."

He tied the move to broader momentum "in a world where digital infrastructure and AI are becoming increasingly essential to Africa's growth and development."

What could go wrong? The shareholder vote fulfils just one condition. The deal still needs regulatory approvals, which MTN says are ongoing.

The signal: Full ownership of IHS would give MTN direct control over a core piece of digital infrastructure as demand for connectivity and AI-ready capacity grows across Africa.

Read more: Engineering News