IHS Holding Limited recorded $96.4 million in one-off long-term employee benefit costs during the first nine months of 2026, according to the group's earnings release covering the third quarter of the year.

The staff benefit charges and associated payments were driven by business disposals and the tower company's ongoing $2.2 billion merger deal with MTN Group Limited. In February, MTN disclosed its plan to acquire the remaining 75% stake in IHS that it did not currently own — a structure that, on completion, would take the telecom operator from its existing 25% holding to full ownership of the tower company.

Human capital costs tied to the proposed takeover

The financial disclosure, recorded under administrative costs, highlights the significant human capital expenses linked to the proposed takeover. During the third quarter alone, IHS paid employee benefit costs of $39.0 million associated with the buyout, compared with zero during the same period in 2025.

The payments stem from contractual obligations triggered by business disposals and structural adjustments following the merger agreement entered into with MTN in February 2026. As part of the requirements to complete the transaction, IHS Holdings is accelerating employee benefit payments. The disclosure puts a measurable price on the human-capital side of the takeover even before the deal closes.

Other deal expenses climb as internal reorganisation winds down

Aside from workforce expenses, the group booked other transaction and operational expenses related to its ongoing corporate restructuring. The tower infrastructure operator incurred $13.1 million in Q3 2026 and $35.9 million across the nine months ending September 2026 in one-off expenses tied to strategic initiatives and operating systems updates, an increase from $0.8 million and $5.1 million in 2025, respectively.

In contrast, internal reorganisation costs dropped to zero for both the three-month and nine-month periods, down from $1.8 million and $3.5 million recorded in the prior year — an indication that the company has cleared early-stage restructuring hurdles and is now focused entirely on final regulatory approvals. Both MTN and IHS are confident that the merger will be completed before the end of 2026. Taken together, the staff benefit costs and the other one-off expenses add up to more than $132 million in such charges booked over the nine-month period, underscoring how much of the deal's cost is landing on the company's books ahead of any closing.

12-month salary guarantee for IHS employees

Beyond the $96.4 million in employee benefit payments made by IHS, MTN has previously highlighted job security and other benefits for employees once the acquisition is completed. A major provision is a 12-month salary guarantee for IHS employees, effective from when the merger takes effect. In Section 6.7 of the filing, titled “Employment and Company Benefits,” MTN said employees will continue to receive the other compensation and benefits set out under an agreement signed with their former boss.

MTN also noted that employees will receive other compensation and benefits that are substantially similar to what they had before. These include equity or long-term incentives, pension and retirement benefits, deferred compensation, severance arrangements, perks, and general benefits.

The telecom operator, however, cautioned that there will be no job guarantee after the expiration of the one-year period, and nothing under the agreement stops the company from dismissing employees at any time. MTN can also change, amend, or cancel these benefits, but only a year after the merger. For employees, that makes the transaction's effective date the key marker to watch — it starts the 12-month clock on the salary guarantee, and it sits alongside the final regulatory approvals that remain between the deal and its planned completion before the end of 2026.