Africa’S biggest mobile telecom operators, MTN has finally agreed to sell off 9,151 of its towers in Nigeria to indigenous telecommunications infrastructure firm, IHS Holding Limited by the end of the year.

MTN currently has over 58 million subscribers in Nigeria and as such holds control of a vast pool of telecom towers. But the growing cost of maintaining these facilities, due to poor power access and a volatile security environment, has hastened plans by South African-based operator to transfer maintenance responsibilities to an independent handler.

According to an official statement and market experts, the sale is expected to drive down operating costs, expand voice and data capacity and improve network efficiencies. For MTN, the deal is its biggest infrastructure sale to date.

The transaction is still subject to regulatory approvals but once completed, will see the MTN tower business transferred to a new company which will be jointly owned by MTN Group and IHS.

For IHS, the deal will further strengthen its footprint in Africa as it marks its fifth secured tower transaction across the continent. It will also boost the number of IHS towers beyond 20,000.