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IHS secures $130 million for African expansion

April 17, 2014 • Mobile and Telecoms, Top Stories

IHS Holding, a leading telecommunications infrastructure company, has secured a further $130 million in funding from investors.

Issam Darwish, Vice Chairman and Chief Executive Officer of IHS (image credit: commsmea.com)

Issam Darwish, Vice Chairman and Chief Executive Officer of IHS (image credit: commsmea.com)

The capital raised is in addition to the $490 million of debt and equity announced on 03 March 2014. IHS will use the funds to accelerate its plans for expansion into new and existing markets.

“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 in March.

The total amount of capital raised by IHS is more than $1.7 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.

Charlie Fripp – Consumer Tech editor

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