Challenging macroeconomic conditions but a bullish outlook for Nigerian towers
How the tower industry has weathered the storm and plans to forge ahead
The past twelve months have been eventful for the Nigerian tower industry. IHS had a busy year acquiring HTN Towers, issuing a $800mn corporate bond, restructuring MTN’s equity in the company and kicking off their ‘big five’ energy initiative. American Tower began to build towers whilst continuing the integration and upgrade of Airtel’s sites and driving up co-locations. MTN was fined NGN330bn (US$1.6bn) by the regulator and EMTS defaulted on its loan repayments leading to a takeover by its lenders a rebranding to 9mobile. TowerXchange examine 2016’s key developments and examine what is on the horizon for Africa’s largest mobile market.