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Published On: Sun, Apr 20th, 2014

African Towers received $130 million from investors

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By Chris Alu

The operators of African towers IHS yesterday said it has raised an additional $130 million from investors to enable it accelerate the expansion plan for new and existing markets.

The capital raised is in addition to the $490 million of debts and equity announced in March with the existing investors.

According to a statement issued by the company, that it has now raised more than$1.6 billion from investors over the past years as it buys up tower assets from mobile networks across the continent.

One of its main backers is South Africa based Wendell which said in a statement that it had pumped $47 million into the company in its latest funding into the investment with a stake of $475 million into the company.

The statement said that the development followed in the transactions Wendell made with IHS as the largest shareholders with more than 35% of the capital of the company.

 

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