MTN Group has moved a step closer to completing its acquisition of the remaining shares in IHS Holding Limited after IHS shareholders overwhelmingly approved the transaction at an Extraordinary General Meeting (EGM), marking a significant milestone in one of Africa’s largest digital infrastructure deals.
The approval, secured through the required two-thirds majority at the EGM held on 4 August 2026, satisfies one of the key conditions precedent to the transaction. The acquisition, first announced by MTN in February 2026, remains subject to the necessary regulatory approvals before it can be finalised.
Reacting to the development, MTN Group President and Chief Executive Officer, Ralph Mupita, described the shareholder approval as a critical step toward concluding the transaction, emphasizing the strategic role that digital infrastructure will play in the company’s long-term growth ambitions.
“The approval by IHS shareholders today is an important step towards completion of the transaction,” Mupita said.
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He noted that the acquisition aligns with MTN’s Ambition 2030 strategy, under which telecommunications towers are positioned as one of the company’s three strategic growth platforms.
“Within our Ambition 2030 three-platform strategy, towers are a critical value creation driver that will strengthen MTN’s strategic and financial position for the future in a world where digital infrastructure and AI become increasingly essential to Africa’s growth and development,” he stated.
According to MTN, strengthening its tower infrastructure portfolio will enhance the Group’s long-term competitiveness while positioning it to support the continent’s accelerating demand for digital connectivity, artificial intelligence, and next-generation communications infrastructure.
The company added that the transaction is still undergoing regulatory review, with completion dependent on securing all required approvals from the relevant authorities.
The proposed acquisition underscores MTN’s broader strategy of investing in critical digital infrastructure as Africa’s demand for reliable connectivity, data services, and AI-enabled technologies continues to expand. By deepening its presence in the telecommunications tower business, the Group aims to reinforce its financial resilience while supporting digital transformation and economic development across the continent.
