Iyinoluwa Aboyeji is buying a lot of IHS Towers stock in 2024 and here is why

Iyinoluwa Aboyeji, an entrepreneur in the public interest and founding partner at Future Africa, has provoked conversation on X (formerly Twitter).

His eye-opening tweet ‘I am buying a lot of IHS stock in 2024’ has got X users talking about one of the largest telecommunications infrastructure providers in Africa, Latin America and the Middle East by tower count and the fourth largest independent multinational tower company globally.

Iyin, as he is popularly called among the Tech bros and Sis, tweeted with his verified X handle: 

“I am buying a lot of IHS stock in 2024. That company is going to be the infrastructure backbone of Nigeria’s digital Revolution. I just need them to list on NGX so I can buy more in Naira”.

Iyinoluwa Aboyeji is a Nigerian entrepreneur. He co-founded Andela and Flutterwave. These are globally renowned startups.

Aboyeji was cited as one of the Top 100 most influential Africans by New African magazine in 2019. He has eyes for investments hence his tweet about buying IHS Towers stock in 2024 sparked conversations:

Talking about IHS, the group has nearly 40,000 towers across its 11 markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Kuwait, Nigeria, Peru, Rwanda, South Africa and Zambia.

The company began operations in the Nigeria telecommunications space in 2001 and remains the group’s largest market today.

The company started as a provider of site-build services for mobile network operators in Nigeria but has gone on to develop deep expertise in all aspects of telecom towers.

Today, IHS and its subsidiaries in Nigeria manage over 16,700 sites. The company operates from its head office in Lagos but has regional offices in Abuja, Ibadan, Enugu, Asaba, Kano and Port Harcourt; and controls an estimated 65% tower market share in Nigeria, as of December 2020.

IHS Towers delivers innovative solutions to its customers, including making use of Greenfield and rooftop sites and developing rural telephony projects to connect the most remote communities in Nigeria.

It provides colocation for Telcos and managed services which helps to drive broadband penetration in the country.

Aside from that, IHS runs fibre optic infrastructure connected to Data centres as it operates two data centres – in Lagos and Abuja – enabling the company to support the Network Operating Centers with a high-quality IT infrastructure, robust security and a reliable network.

IHS’ footprint and commitment to the development of science, technology, innovation, digital skills and entrepreneurship also include a one-year partnership with Limitless Space Institute (LSI), a non-profit education and research organisation.

 The programme, which will commence in January 2024, is designed to help broaden access to space education in the company’s two largest markets, including Nigeria.

Through this collaboration, 20 science, technology, engineering, and mathematics (STEM) educators from Brazil and Nigeria will be invited to join the 12-month Limitless Global Educator Program and access a carefully curated space education curriculum delivered by experts from LSI.

Also, IHS Nigeria and the Kwara State Government have signed a Memorandum of Understanding (MoU) to establish a technology innovation hub to stimulate and deepen the alignment of technology, innovation, entrepreneurship, investment, and job creation for young people aged 18 to 35 years old.

Under this partnership for the establishment of the Ilorin Innovation Hub, IHS Nigeria will provide financial and technical support to complete the build of the Ilorin Innovation Hub, in addition to operating and managing it for the Kwara State Government. IHS Nigeria will also deliver various training programmes, including digital skills enhancement and accelerator programmes for start-ups at the Hub.

See also: ‘Focus on building your business, investors are watching’ – Iyin Aboyeji