IHS Nigeria Plc (IHS), which operates telecommunications infrastructure in three African countries, is set to more than double its assets after raising $1 billion for investment, Chief Executive Officer Issam Darwish said.
IHS wants to increase the number of telecommunications towers under its management to 20,000 by 2016 from the 8,500 towers it currently runs in Nigeria, Cameroon and Ivory Coast, Darwish said on Aug. 5 in a phone interview from Beirut, Lebanon’s capital. “We have funding available for various opportunities that we are currently analyzing,” he said.
The Lagos-based company said in July it raised $522 million in new capital, $280 million in debt and $242 million in equity in the preceding year to fund its expansion across Africa.
