IHS Towers, Africa’s largest independent telecom tower company, saw over 3 million shares traded on the New York Stock Exchange (NYSE) on May 7, its highest single-day volume in nearly two years. The surge in trading activity, accompanied by a 9.7% jump in share price to $5.7, underscores how investor sentiment is shifting in favour of infrastructure enablers as Nigeria’s top telcos rebound from a turbulent stretch.
The spike also has real implications for the future of internet connectivity in Nigeria and across IHS’s other African markets. With Nigeria contributing 58.3% of the company’s total revenue in 2024, and MTN Nigeria and Airtel Nigeria accounting for a combined 57% of that revenue, IHS’s business performance is deeply intertwined with the operational health of these telecom giants. As both telcos return to profitability in 2025 after navigating currency shocks and rising costs in recent years, investor interest in IHS Towers is growing in tandem.
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