IHS Towers has completed a critical debt restructuring agreement with 9mobile, now rebranded as T2 Mobile, clearing a major legacy obligation ahead of the proposed takeover of IHS by MTN Group. The agreement allows T2 Mobile to formally exit 2,576 tower sites across Nigeria under a structured repayment plan running through July 2027.
The development was disclosed in IHS Towers’ 2025 audited financial results released on March 16, confirming that the revised payment framework resolves outstanding liabilities linked to long-standing tenancy issues between both companies. The move forms part of IHS Towers’ broader portfolio optimisation strategy as it prepares for a change in ownership.
Brandspur Brand News reports that the restructuring builds on enforcement actions taken in November 2025, when IHS instructed T2 Mobile to vacate several tower locations following prolonged payment defaults. Those exits contributed significantly to a year-on-year reduction of 3,836 tenants, reflecting a deliberate clean-up of underperforming contracts within the company’s African operations.
Despite the tenant exits, IHS Towers maintained solid operating performance in Nigeria, its largest market. The company closed the reporting period with 37,590 net towers and recorded fourth-quarter revenue of $397.8 million. Nigeria alone contributed $268 million in revenue in the third quarter, underscoring the market’s continued importance to IHS’ earnings profile.
The resolution of the 9mobile debt issue comes as IHS advances preparations for the proposed $2.2 billion acquisition by MTN Group, announced in February 2026. By addressing historical receivables and stabilising cash flows, IHS strengthens its balance sheet and reduces transactional risk as regulatory approvals for the deal progress.
For 9mobile, operating under the T2 Mobile identity, the agreement offers breathing room to recalibrate its network strategy amid persistent financial pressures. Industry watchers say the structured exit from non-core sites enables the operator to focus resources on fewer, more commercially viable locations.
Analysts describe the deal as a pragmatic outcome that benefits both parties, supports stability within Nigeria’s telecommunications infrastructure, and clears the path for IHS Towers to complete one of the most significant consolidation moves in Africa’s telecoms sector.
