IHS secures US$490m to fund African expansion

BUSINESS

|
Image: By BiztechAfrica
IHS secures US$490m to fund African expansion

IHS Holding Ltd., Africa’s largest independent telecommunications infrastructure company by number of towers managed, has secured US$490 million of equity and debt in its latest financing round.  The round expanded IHS’ base of leading institutional shareholders and was priced at a premium to IHS’ July 2013 funding.  This is strong validation of the growing strength of the IHS platform throughout its 12-year track record in Africa.  Solid support from existing investors was combined with strong participation from Goldman Sachs, the IFC Global Infrastructure Fund and African Infrastructure Investment Managers.

This funding round brings the total amount of capital raised by IHS to more than $1.5 billion over the last 12 months.

IHS will utilise the proceeds of the round to finance acquisitions, help its customers expand coverage and capacity by building new towers and continue investing in alternative energy and green solutions that have a positive impact on the communities throughout Africa.

Issam Darwish, Vice Chairman and Chief Executive Officer, IHS, said: “This important milestone confirms the broadening investor interest in the African telecommunications infrastructure space generally, and in IHS, in particular.  We are excited to welcome our new investors to the IHS family and look forward to expanding support to our customers and partners throughout the continent.  This funding will allow us to continue investing in technology, coverage and capacity new build sites, and the growing human resource component that will help IHS continue providing a quality service and product to an expanding customer base in Africa.”

IHS Towers currently owns and manages over 10,500 towers and has built over 3,500 for its clients across Nigeria, Cameroon and Côte d’Ivoire, making it Africa’s largest independent mobile infrastructure provider by number of towers managed.  In Q4 2013, IHS signed agreements with MTN in Zambia and Rwanda to acquire over 1,200 sites in Zambia and Rwanda.



Share the News

Get Daily Newsletter

Search News

comments powered by Disqus

MORE BUSINESS NEWS

FNB, PayPal bring global eCommerce to Botswana

Ogone Madisa-Kgwarae First National Bank (FNB) has announced it will be extending the partnership between FNB and PayPal to offer the PayPal Withdraw Service, previously available only in South Africa, in Botswana. Read More

Survey: businesses have less than two years to make digital inroads

Progress has announced the results of its recent global survey: "Are Businesses Really Digitally Transforming or Living in Digital Denial?"  Read More

Gartner: profit opportunities exist for PC vendors

The worldwide PC market registered one of its lowest quarterly growth rates in the first quarter 2016, but Gartner, Inc. said several profit opportunities exist for PC vendors. Read More

MTN Business makes headway to be an ICT Partner of Choice

MTN Business, the enterprise business unit of MTN SA, plans to focus on three key areas in a bid to become the ICT partner of choice, namely, getting the basics right, accelerating growth and diversifying its revenue streams. Read More

MTN Ghana celebrates 20 years of operations in Ghana

MTN Ghana has unveiled its 20th Anniversary logo at a grand ceremony held at the iconic MTN House in Accra to officially mark the 20 years of operations in the country.  Read More

Copy Cat bets on innovation to grow market share

Kenyan technology company Copy Cat Group is implementing a new transformational strategy to increase its market share in the ICT market.  Read More

Infrastructure investments highlight bright spots for SSA economic diversification

The commodity super cycle may have ended, but there are certainly bright spots for investors across sub-Saharan Africa, IHS has told the World Economic Forum on Africa. Read More

Africa’s CEOs look to innovation and technology to stimulate growth

CEOs in Africa are ramping up their efforts to innovate and find new ways to do business on the continent, according to PwC’s Africa Business Agenda released at the 26th World Economic Forum on Africa in Kigali. Read More

4th Africa Business Forum to be staged in Ethiopia

Registration is open for the 4th Africa Business Forum to be held on Wednesday, June 1st, 2016 at the Sheraton Hotel, Addis Ababa, Ethiopia, East Africa. Read More

Airtel divests telecoms tower assets in DRC to Helios Towers Africa

Bharti Airtel International and Helios Towers Africa have announced an agreement for the divestment of approximately 950 telecoms towers in the DRC from Airtel to Helois Towers Africa.  Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor Networks
Advertisement

FEATURED STORY

Government should encourage youths in ICT earlyGovernment should encourage youths in ICT early

Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.

IN DEPTH

IBM Opens First Cloud Data Centre in South AfricaIBM Opens First Cloud Data Centre in South Africa

IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.  

COMPANY NEWS

Enhancing your security posture to fight new ransomware threats

Petya ransomware is proving to be one of the top cybersecurity stories of 2016. 

Arbor stops malware in its tracks

There is always a substantial amount of banking trojan activity taking place, however, recent developments have intensified the threat landscape.