IHS Holding Limited (NYSE:IHS) agreed to acquire 5709 Towers of MTN Group from MTN Group Limited (JSE:MTN) for approximately ZAR 6 billion on November 17, 2021. IHS Towers must meet black economic empowerment conditions such as achieving 30 per cent black ownership within 24 months. Furthermore, the tower company must ensure the sites it is buying from MTN are made available to all existing users under the same terms and conditions. The Competition Commission of South Africa has approved the deal.

IHS Holding Limited (NYSE:IHS) completed it's acquisition of 5709 Towers of MTN Group from MTN Group Limited (JSE:MTN) on June 1, 2022. IHS Towers will own 70% of the South African Towers business with the remaining 30% to be owned by a B-BBEE consortium.