American Tower Corporation’s Africa Operations to Boost MTN Nigeria's Connectivity Through Sustainable Agreement

Rhea-AI Summary

American Tower Corporation (ATC) and MTN Nigeria Announce New Agreement to Enhance Wireless Connectivity, Expanding ATC Africa's Site Portfolio

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• The new agreement between ATC and MTN Nigeria is expected to enhance wireless connectivity across Nigeria, with ATC Africa facilitating new tenancies for MTN Nigeria over a multi-year period, leveraging ATC Africa's extensive portfolio of over 8,000 sites in Nigeria, including green energy solutions. This expansion is set to commence in the second half of 2024, and new sites will be deployed in accordance with ATC Africa's green site specifications.

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JOHANNESBURG--(BUSINESS WIRE)-- American Tower Corporation's Africa operations (ATC Africa, or the Company), and MTN Nigeria, today announced that they have entered into a new agreement that is expected to enhance wireless connectivity across Nigeria.

Under the terms of the agreement, ATC Africa will facilitate new tenancies for MTN Nigeria over a multi-year period, commencing in the second half of 2024. The Company expects to meet MTN Nigeria's site requirements by leveraging ATC Africa's extensive portfolio of over 8,000 sites in Nigeria, a substantial portion of which already incorporate green energy solutions. Additionally, new sites will be deployed in accordance with ATC Africa's green site specifications.

Marek Busfy, Senior Vice President and CEO of ATC Africa expressed his enthusiasm about the announcement, stating , "We're thrilled to further strengthen our partnership with MTN Nigeria. We believe this agreement, which secures incremental lease-up on our existing portfolio and a strong development pipeline, clearly demonstrates the differentiated value ATC Africa can provide its customers through our quality of assets, leading build-to-suit capabilities, and best-in-class Power-as-a-Service and green site offerings."

This agreement marks a significant step towards expanding and improving wireless services in Nigeria while prioritising sustainability and responsible business practices.

MTN Nigeria CEO, Karl Toriola shared, “Through this partnership with ATC Africa, we are setting the stage for a new era of connectivity in Nigeria, one that not only meets the growing demands of our customers but also aligns with our commitment to sustainability and environmental responsibility."

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities. For more information about American Tower, please visit the “Earnings Materials” and “Investor Presentations” section of our investor relations website at www.americantower.com.

American Tower in Africa

We established our presence in Africa in 2011 and today operate nearly 24,000 sites across Burkina Faso, Ghana, Kenya, Niger, Nigeria, South Africa and Uganda. Our customers include the region’s leading Mobile Network Operators (MNOs). Access to broadband services has helped unlock an array of new opportunities and services that are enhancing the livelihoods of Africans, spurring Africa’s economic growth, and advancing the 2030 Sustainable Development Agenda for the continent.

Cautionary Language Regarding Forward-Looking Statements

This press release contains “forward-looking statements” concerning American Tower’s goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions and other statements that are not necessarily based on historical facts. Forward-looking statements can generally be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “potential,” “seek,” “should,” “think,” “will,” “would” and similar expressions, or they may use future dates. Actual results may differ materially from those indicated in American Tower’s forward-looking statements as a result of various factors, including those factors set forth in Item 1A of its Form 10-K for the year ended December 31, 2022, as updated in our Form 10-Q for the six months ended June 30, 2023, under the caption “Risk Factors”. American Tower undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

About MTN Nigeria

MTN Nigeria is one of Africa’s largest providers of communications services, connecting over 77 million people in communities across the country with each other and the world. Guided by a belief that everybody deserves the benefits of a modern, connected life, MTN Nigeria’s leadership position in coverage, capacity and innovation has remained constant since its launch in 2001. MTN Nigeria is part of the MTN Group - a multinational telecommunications group, which operates in 19 countries in Africa and the Middle East.

To learn more about MTN Nigeria, visit www.mtnonline.com
For more information, please contact us
Phone: Lakinbofa Goodluck on +234 (0) 803 200 0224
Email: Lakinbofa.goodluck@mtn.com
Email: mediaenquiries.NG@mtn.com
Follow us:
www.twitter.com/MTNNG
www.linkedin.com/company/mtn-Nigeria

View source version on businesswire.com: https://www.businesswire.com/news/home/20231110858803/en/

ATC Africa

Alex Kowalski

Senior Director, Communications EMEA and LatAm

alejandrokowalski@americantower.com

Source: American Tower Corporation

FAQ

What is the new agreement between ATC and MTN Nigeria about?

The new agreement is expected to enhance wireless connectivity across Nigeria, with ATC Africa facilitating new tenancies for MTN Nigeria over a multi-year period, leveraging ATC Africa's extensive portfolio of over 8,000 sites in Nigeria.

When will the expansion commence?

The expansion is set to commence in the second half of 2024.

How many sites does ATC Africa have in Nigeria?

ATC Africa has an extensive portfolio of over 8,000 sites in Nigeria.

What is the focus of the new sites to be deployed?

The new sites will be deployed in accordance with ATC Africa's green site specifications, incorporating green energy solutions.