IHS Towers Completes Sale of Kuwait Operations to Zain Group

By: IHS Holding Limited via Business Wire

December 23, 2024 at 04:15 AM EST

IHS Holding Limited, (NYSE: IHS) (“IHS Towers”), one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, has today announced the completion of the sale of IHS Towers’ 70% interest in IHS Kuwait Limited (“IHS Kuwait”) including its approximate 1,675 sites and an additional approximately 700 sites managed in Kuwait to Zain Group.

The sale of the company’s Kuwait operations is part of IHS Towers' ongoing strategic review targeted at shareholder value-creation options.

About IHS Towers: IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count and is solely focused on the emerging markets. The Company has over 39,000 towers across its nine markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Nigeria, Rwanda, South Africa and Zambia. For more information, please email: communications@ihstowers.com or visit: www.ihstowers.com

About Zain Group: Zain is a leading telecommunications operator across the Middle East and Africa, serving 47.2 million active customers as of 30 September 2024. With a commercial presence in 8 countries, Zain provides mobile voice and data services in: Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, Sudan and South Sudan. In UAE, ZainTECH, the Group’s one-stop digital and ICT solutions provider, is playing a key role in the transformation of enterprise and government clientele across the MENA region. Also, UAE based, Zain Omantel International (ZOI) is revolutionizing the international telecommunications wholesale landscape as the premier wholesale powerhouse serving regional operators, international carriers, and global hyper scalers. In Morocco, Zain has a 15.5% stake in ‘INWI’, through a joint venture. Zain is listed on the Boursa Kuwait (stock ticker: ZAIN). For more, please email info@zain.com or visit: www.zain.com

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