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MTN Mulls Sale of $2.3Bn Stake in IHS Towers to Cut Debt

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MTN Group could cash in from an Initial Public Offering (IPO) , of Africa’s largest telecommunications towers company by selling a stake valued by the wireless carrier at about R27bn($2.3bilion), according Bloomberg.

 

IHS Towers, of which MTN owns about 29%, is planning an IPO in New York, people familiar with the matter said in 2017.

 

If the tower operator went ahead with the share sale and the valuation was appropriate, MTN will look to sell out, Ralph Mupita, chief financial officer said.

 

“It is not strategic to lock up so much capital,” he said.

 

Although MTN’s stake in IHS Towers is important, it has been earmarked by the company as an asset for sale.

IHS, Helios Towers Africa and Eaton Towers are all looking to take advantage of high industry valuations to sell shares and fund expansion, people familiar with the situation said in November.

 

Helios confirmed the plans earlier in March, saying it would seek an IPO in London and Johannesburg, and that it expected at least 25% of its shares to be freely traded after the sale.

 

IHS Towers declined to comment. MTN, Africa’s largest cellphone company by sales, planned to cut its debt, Mupita said.

 

Borrowings rose to R57bn in 2017 from R52bn in 2016. The shares rose 1.2% to R33.60 as of 3.30pm in Johannesburg, valuing the company at R52bn.

 

IHS is owned by French investment firm Wendel, Goldman Sachs and MTN.

 


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Techeconomy Unveils IWD 2026 Power List Celebrating 100 Women Shaping the Future

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In celebration of International Women’s Day (IWD) 2026, Techeconomy, a leading business news platform in Nigeria, has unveiled its “100 Women Shaping the Future: Techeconomy Power List 2026,” recognizing exceptional women driving innovation, leadership, and impact across technology and the broader digital economy.

Techeconomy Unveils IWD 2026 Power List Celebrating 100 Women Shaping the Future

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The annual recognition spotlights women who are transforming industries through entrepreneurship, policy leadership, digital innovation, financial inclusion, media, education, and emerging technologies.

The initiative is part of Techeconomy’s commitment to promoting gender inclusion and highlighting female leadership shaping Africa’s technology ecosystem.

The Techeconomy IWD Power List features a diverse group of women, from corporate executives and startup founders to policymakers, ecosystem builders, and social innovators, whose work continues to influence the future of technology, business, and digital transformation in Nigeria and across Africa.

Speaking on the initiative, Joan Aimuengheuwa, the Managing Editor at Techeconomy, noted that the recognition goes beyond celebrating titles, focusing instead on impact, resilience, and the ability to shape the future through innovation and leadership.

According to her, “the women on the list represent different sectors including fintech, banking, healthcare, agriculture, education, communications, and the creative economy, demonstrating the growing role of women in advancing technology-driven development.

The unveiling aligns with the global celebration of International Women’s Day, which highlights the achievements of women and calls for accelerated progress toward gender equality. Across the world, the technology sector continues to push for greater female representation and leadership as part of efforts to build more inclusive digital economies.

Also speaking, Oluwatosin Aloba, the Brand Manager at Techeconomy, said: “Techeconomy IWD 2026 Power List is specially designed to inspire the next generation of female innovators and leaders by showcasing role models who are breaking barriers and redefining possibilities in the technology landscape.

“Techeconomy encouraged industry stakeholders, institutions, and the broader public to celebrate the achievements of these women while continuing to support policies, programs, and investments that expand opportunities for women in technology”, she added.

The full list of the “100 Women Shaping the Future: Techeconomy Power List 2026” is available on the Techeconomy website or visit: https://techeconomy.ng/techeconomy-iwd-2026-power-list-celebrates-100-women-shaping-the-future-of-tech/.


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NITDA, JICA Open iHatch Cohort 5 to Boost State-Level Startup Hubs Nationwide

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National Information Technology Development Agency (NITDA), via its Office for Nigerian Digital Innovation (ONDI), has partnered with the Japan International Cooperation Agency (JICA) to launch applications for the fifth cohort of the iHatch Startup Incubation Programme, targeting 37 innovation hubs—one per state and the Federal Capital Territory (FCT).

NITDA, JICA Open iHatch Cohort 5 to Boost State-Level Startup Hubs Nationwide

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The initiative selects hubs as state-level managers to run incubation programmes, addressing uneven support outside Lagos and Abuja. “Nigeria’s startup ecosystem has grown rapidly, but access remains uneven,” said ONDI National Coordinator Victoria Fabunmi. “iHatch builds stronger hubs, standardises quality, and boosts investment readiness across all regions.”

Amid Africa’s $3.42 billion startup funding in 2025, Nigeria’s innovation clusters in major cities, sidelining rural founders. Selected hubs will incubate five startups each for at least one year, providing structured guidance for growth and funding. Hubs gain operational support, resources, and performance rewards—prioritizing ecosystem leadership over cash grants.

Eligibility and Timeline

Eligible hubs must:

  • Operate for at least one year with local engagement.

  • Possess infrastructure for incubation activities.

Applications close March 16 at ondi.nitda.gov.ng/#/ihatch.

Fabunmi emphasized: “By equipping hubs with tools, curriculum, and oversight, iHatch ensures consistent outcomes for founders everywhere,” tackling geographic gaps to scale local innovation.


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Thrifto Digitizes Nigeria’s Ajo, Esusu Savings for Safer Group Finance

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Thrifto, a new Nigerian fintech, is modernizing age-old group savings like ajo (Yoruba), esusu (South-West), and adashe (North) with a bank-integrated web app, slashing risks of defaults, disputes, and lost funds.

Thrifto Digitizes Nigeria's Ajo, Esusu Savings for Safer Group Finance

Founded by media entrepreneur Sulaimon Biodun Durojaiye, Thrifto lets users create or join groups, set contributions, cycles, and payouts.

It tracks records transparently, preserving cultural collaboration while adding tech accountability. “We’re providing structure and transparency without replacing the spirit of ajo,” Durojaiye said.

Early users—salary earners, entrepreneurs, small businesses—form groups for school fees, rent, or capital. The platform eliminates friction like poor bookkeeping and payout fights, driving organic growth nationwide.

Launching next week, a self-saving feature lets users automate fixed amounts (e.g., ₦5,000 daily or ₦50,000 weekly) toward goals, enforcing consistency solo.

A Trust Rating Score, based on participation history, rewards reliable users, aiding smarter group choices and fostering responsible behavior.

Tailored for Nigerian realities, Thrifto taps informal savings to expand inclusion. Observers see it strengthening networks and discipline in Nigeria’s fintech landscape.


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