IHS Towers narrows losses to $1.64 billion in 2024 amid Nigerian currency volatility
- IHS Towers reduced its losses for 2024 to $1.64 billion from $1.98 billion in 2023.
- The company's revenue declined 19.5% to $1.71 billion in 2024, down from $2.12 billion in 2023.
- Organic revenue saw a significant 48.1% year-over-year increase due to foreign exchange resets and growth in tenant revenue.
IHS Towers' ongoing struggles with losses and declining assets raise concerns about its long-term viability, particularly in a challenging economic environment. The company's focus on organic growth and strategic divestitures may provide some relief, but the persistent liabilities and market pressures suggest a need for more aggressive restructuring and innovation to regain investor confidence.
