Published: October 27, 2011
ECP and Investec provide growth funding.
IHS, an African telecommunications infrastructure specialist, has secured US$52mn to fund its growth.
The funds were provided by Emerging Capital Partners (ECP), a pan-African private equity firm, which invested US$32mn, and South African investment manager Investec.
This deal brings the total amount of debt and equity raised by the Lagos-based company this year to US$250mn.
Bryce Fort, ECP’s managing director, sees “tremendous” growth potential in Africa’s telecommunications infrastructure sector due to the expanding coverage and capacity needs of mobile network operators.
He adds that this deal is the beginning of a long-term partnership between ECP and IHS.
IHS, which also has operations in Ghana and South Sudan, counts mobile network operators MTN, Airtel and Etisalat among its clients. The company intends to open offices in Uganda and Kenya next year.