IHS Africa receives US$79 million investment boost

IFC, a member of the World Bank Group, along with co-investors Investec and FMO, announced a US$79 million equity investment in IHS Africa to help the company build and acquire mobile phone towers in sub-Saharan Africa.

IHS is the largest telecommunications infrastructure provider in West Africa with more than 2,700 towers under management, and is expanding its ownership and leasing operations throughout Africa.

IHS is currently working with many of the region’s operators to upgrade existing tower sites and facilitate the roll-out of technologies, including 3G and WiMAX.