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Home Business IHS Towers Secures Further US$130 million to fund its African Expansion

IHS Towers Secures Further US$130 million to fund its African Expansion

by Sam Wakoba
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TOWERSIn a move that will see the firm fuel its continuing African expansion, IHS Holding Ltd., Africa’s largest independent tower company, has raised a further US$130 million in the second tranche of its latest fundraising to accelerate its plans for expansion into new and existing markets in Africa.

This latest round of funding follows the firms March 3rd round of  US$490 million of debt and equity from its existing investors. The firm had also raised over $500 million earlier also for its expansion mission in Africa.

Headquartered in Nigeria and founded in 2001, IHS Towers  has operations in Nigeria, Cameroon, Côte d’Ivoire,Zambia and Rwanda and is Africa’s top independent mobile telecommunications infrastructure provider. The firm provides services across the full tower value chain – managed services, deployment and site ownership. The firm has over 10,500 towers in Africa.

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