Emerging Capital Partners-backed IHS Holding Raises US$2.6 Billion in New Financing (Sub-Saharan Africa)

Source: IHS Holding, Emerging Capital Partners, Financial Times | Author(s): Daniel Thomas, Javier Blas

Nigeria-based telecoms infrastructure group IHS Holding has raised US$2 billion in equity and US$600 million in debt from a consortium of Asian, European and African investors. Existing shareholders, which include private equity firm Emerging Capital Partners (ECP) and funds managed by Goldman Sachs, also participated in the new financing. ECP originally invested in the company in 2011 through ECP Africa Fund III. The new capital will be used to finance the acquisition of towers from two telecoms groups, Etisalat Nigeria and MTN Nigeria, construct new towers and upgrade existing towers with solar power systems and generator units.