MTN Group has revealed that the board of IHS Towers accepted its offer of US$8.50 per share, positioning MTN to boost its stake to 100% ownership following IHS’s divestment of Latin American assets.

MTN Group

The potential transaction is subject to various approvals and the delisting of IHS from the New York Stock Exchange (NYSE).

Upon the completion of IHS’s announced disposals (on 11 February and 17 February 2026) of its Latin American assets, it is intended that MTN will acquire 100% of IHS’s remaining business.

IHS is one of the world’s largest tower companies, with nearly 29 000 high-quality towers in Africa serving various mobile network operators in five key MTN markets.

The proposed transaction, which follows discussions noted on 5 February 2026, marks an important step to unlock compelling value for MTN and strengthen and
reintegrate its ownership of critical digital infrastructure across Africa. For IHS shareholders, it provides them with an attractive opportunity to crystallise value.

The funding for the proposed transaction of the remaining shares MTN does not already own, for a consideration of some US$2.2 billion, will be through cash of
approximately US$1.1 billion on IHS’s balance sheet, along with available liquidity and debt from MTN.

MTN has approximately 24.7% shareholding in IHS. As part of the transaction, it intends to take the company private through the acquisition of all outstanding
shares it does not own, pursuant to a cash merger.

By reintegrating the tower assets, MTN will be able to internalise the margin currently paid to IHS, benefit from current and future incremental third-party
revenues, improve cost predictability and unlock significant long-term value embedded in its existing investment.

“This proposed transaction is a pivotal step in further strengthening MTN Group’s strategic and financial position for a future where digital infrastructure will become ever more essential to Africa’s growth and development,” said MTN Group President and CEO Ralph Mupita.

“This transaction gives us a unique opportunity to buy back our towers and strengthen our ability to be partners for progress to the nation states in which we operate.”

“For IHS customers and partners across the continent, we commit to continuing high standards of service and the right governance of what is the largest standalone and
integrated tower company in Africa, enabled by the excellent people within IHS.”

Through this transaction, shareholders of IHS will receive US$8.50 per share. This translates to an 9.7% premium to the 30-day volume-weighted average price as at
4 February 2026 (the last day of trading before the release of MTN’s cautionary announcement) on the NYSE, enabling them to unlock the value of their investment.

Long-term IHS shareholder Wendel has provided a letter of support to vote in favour of the transaction and will receive full liquidity on its shares upon closing.

With support from Wendel (and certain affiliates) and MTN being able to vote at a general meeting, ~40% has already been secured of a minimum two-thirds approval
of voting shareholders.

IHS Chairman and CEO Sam Dawish commented: “The proposed transaction deepens our long-standing partnership with MTN as it combines Africa’s largest
mobile network operator with one of its largest digital infrastructure platforms and underscores the strong connection between IHS Towers and the African continent.”

In structuring this transaction, MTN remains focused on disciplined capital allocation inclusive of shareholder remuneration going forward. No new equity issuance will be required at the MTN Group level and the funding plan allows for a short-term increase in leverage. The transaction is forecast to be accretive to net income and cash flow.

The proposed transaction is subject to IHS shareholder approval, regulatory approvals in the relevant markets and customary closing conditions.

LG Electronics has announced the launch of a nationwide campaign aimed at celebrating decades of customer loyalty and technological heritage by searching for the oldest still-functioning LG television sets across the country.

The initiative, themed “The Oldest LG TV”, seeks to honour long-time customers whose LG screens have stood the test of time, while introducing them to the future of home entertainment through LG’s advanced AI QNED TVs.

For generations, LG televisions have been more than an electronic device in Nigerian homes, they have been silent witnesses to family milestones, cultural moments and shared memories.

This campaign bridges nostalgia with innovation, acknowledging the emotional connection Nigerians have built with the brand while showcasing LG’s leadership in AI-powered display technology.

The campaign features a storytelling -driven narrative that highlights community, heritage and the evolution of viewing experiences. Participants are invited to share the stories behind their long-serving LG TVs, transforming everyday screens into symbols of trust, resilience and innovation.

In creative twist, the campaign also introduces LG’s AI-enabled televisions as responsive companions that understand viewer preferences, recommend content and enhance picture quality in real time. This shift from nostalgia to futuristic interactivity underscores LG’s continued commitment to delivering smarter, more personalized entertainment solutions.

To participate, simply visit https://lgsearchcampaign.vercel.app/ upload a photo or video of your old LG TV and share the story behind it – how long you’ve had it and the memories it holds.

The winner walks away with a brand-new LG AI QNED TV, effectively trading legacy for luxury.

At its core, this campaign reminds us that technology is not only about pixels and processors, but about people. It’s about the laughter in the living rooms, the silence during tense match moments and the comfort of family routines.

By celebrating the oldest TVs still standing strong, LG is celebrating the people who kept the on, families who trusted the brand through changing times and evolving technologies. In doing so, LG isn’t just upgrading television, it’s upgrading memories into the future.

According to Mr. Choongbae Seok, General Manager, Media Entertainment Solutions, LG Electronics Nigeria, “The journey from our classic CRT Televisions to today’s AI QNED technology reflects how far both our customers and our innovation have come. Those early sets were built to last, and many are still functioning today, a testament to durability and consumer trust. This initiative allows us to honour that legacy while introducing a new era of intelligent viewing, where the screen does more than show content; it adapts, learns and enhances every moment”.

LG Display 2026 TV Models at InnoFest

LG Electronics (LG), a leader in AI-powered solutions for the home, outlined plans to accelerate growth in emerging markets at LG InnoFest 2026 MEA. The event, held in Abu Dhabi, provided a forum to share LG’s strategic direction and market outlook with regional partners. At the exhibition, LG displayed its premium 2026 AI TV lineup focusing heavily on advanced processing power, smarter picture and sound technologies. The flagship OLED evo G6 and 100-inch Micro RGB evo TVs are powered by the new Alpha 11 AI processor Gen 3 enabling faster and more intelligent performance. The OLED evo W6 Wallpaper TV, an ultra-slim television designed to sit flush against the wall like artwork uses true wireless connectivity, reducing cable clutter and creating a cleaner, minimal setup.

The African Continental Free Trade Area (AfCFTA) secretariat signed a Memorandum of Understanding with nonprofit organisation Alliance for a Green Revolution in Africa (AGRA), towards improving agricultural trade in the continent.

On the margins of the 39th African Union Summit over the weekend when the MoU was signed, Wamkele Mene, secretary-general of the African Continental Free Trade Area (AfCFTA) Secretariat, said the three-year ‘Agriculture Trade Action Plan’, was created to ensure better distribution of food products and solve enduring food insecurity for producers, processors and consumers across the continent.

“The continent of Africa in the last few years has been undergoing a food crisis. Africa has the grains but we continue to be a net food importer.” The Secretariat would leverage on the “technical skills,” and “the expertise of AGRA combined with trade tools to enable movement of agric products across the African continent.”

“The main objective is to reduce the cost of food import bill in Africa,” he added.

On its website, AGRA says it is an African-led institution focused on scaling agricultural innovations that help smallholder farmers to increase incomes, live better, and improve food security.

Mene said the Secretariat had spent the last three years working on the plan that is expected to “reduce the cost of food and help to develop agro processing industries. Ministers of trade will adopt it and take it to heads of state for adoption,” he said.

Alice Ruhweza, president of AGRA said the partnership was about “virtual water.”

“When we trade maize, citrus and processed dairy across borders, we’re also trading the water we use to produce them,” she said “And by integrating our markets, water-abundant regions can nourish water-scarce regions,” she said.

AGRA and the AfCFTA said they will commit to protecting food systems from drought and floods, by linking food corridors and food baskets into agro-processing zones that utilise sustainable water management

“We will empower smallholder farmers to ensure the free trade prosperity reaches farmers and youth who farm our land and protect our streams,” they promised, with the end goal being that “ no child goes to bed hungry.” “Let this partnership prove that when Africa trades with itself, it feeds itself,” Ruhweza said.