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The decline in revenue—driven largely by the devaluation of the Nigerian naira—underscores the financial challenges facing the company despite strong operational growth.
IHS led by Sam Darwish plans to boost digital inclusion, economic development through expanded connectivity.
According to data tracked by Billionaire.Africa, the market value of Darwish’s stake in IHS Holding has plunged by $4.33 million over the past 24 days.
Under the groundbreaking move, Airtel Nigeria has committed to securing 3,950 tenancies over the next five years.
IHS will now own 70 percent of its South African towers business.
Darwish founded IHS Holdings, a Nigerian telecom infrastructure firm, in 2001.
His Lagos-based telecom company reported a profit of $16.9 million in the first quarter of 2022.
IHS Towers is a Nigeria-based telecom infrastructure firm.
The businessman played a key role in the deregulation of the country’s telecom industry in the early 2000s.
IHS Towers is a leading telecom infrastructure group.
IHS Towers is the largest telecom infrastructure group in Africa, Europe, Latin America and the Middle East by tower count.
The listing still managed to raise $378 million to fund the company’s growth plans.
IHS Towers is a Nigeria-based telecommunication infrastructure company, operating internationally.
The company and its shareholders will split the 22.5 million ordinary shares to be listed in the IPO.