Africa's largest independent telecom tower company, recently turned a profit after significant losses.
Naira Boost, improved revenue drives IHS Towers to profitability since 2021
IHS Towers recorded a profit of $30.7 million in Q1 2025, ending a streak of losses since 2021. The company had a $1.5 billion loss in Q1 2024, showcasing a significant turnaround.
MTN Nigeria returns to the black with ₦133.7 billion Q1 profit, first since 2023
MTN Nigeria returned to profitability with a profit of ₦133.7 billion in Q1 2025. The telecom firm added 3.2 million new subscribers, bringing the total to 84 million.
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.
Nigeria’s Juicyway raises $3 million to help businesses solve FX shortage problem
Juicyway raised $3 million in pre-seed funding. The startup plans to expand its marketing and business development teams.
Lending product drives MTN Nigeria's fintech revenue growth in H1 2024
MTN Nigeria reported a 2.9% increase in total subscribers, reaching 79.4 million. The telco's fintech business saw 11% revenue growth primarily due to its airtime lending product Xtratime and the adoption of its mobile money services, MoMo.
