Africa’s largest independent telecommunications infrastructure company IHS Holding has announced that they have managed to secure $490 million of equity and debt in its latest financing round.
“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,” the company said in a statement.
At the conclusion of the funding round, the total amount of capital raised by IHS to more than $1.5 billion over the last 12 months.
“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,” said Issam Darwish, Vice Chairman and Chief Executive Officer of IHS.
The company plans to use the funds for 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 communities throughout Africa.