Investors commit $52m to African telecom tower firm

Emerging Capital Partners, a pan-African private equity firm, and Investec, the South African fund manager, have forked out $32m and $20m respectively to a $52m equity round at IHS, an African tower infrastructure company.

African investment firms Emerging Capital Partners and Investec have contributed $32 million and $20 million to a $52 million equity round on behalf of IHS, a tower infrastructure company which has operations in Nigeria, Ghana and South Sudan and is planning to open offices in Uganda and Kenya early next year.

IHS, which was established in 2001, offers telecoms infrastructure solutions and counts mobile network operators MTN, Airtel and Etisalat among its customers. 

Bryce Fort, managing director of Emerging Capital Partners, said in a statement he sees “tremendous growth potential in Africa’s shared telecommunications infrastructure sector”. 

IHS has raised a total of $250 million in equity and debt so far this year, and is also backed by the International Finance Corporation and Dutch development organisation FMO. 

Founded in 2000, Emerging Capital Partners has raised around $1.8 billion for growth capital investing in Africa, where it has six offices. As well as infrastructure, the firm invests in financial services, telecommunications, natural resources and agriculture.