IFC Invests in IHS Holding Limited Bond to Support Digital Connectivity in Emerging Markets

London, United Kingdom, December 02, 2024-IFC has anchored a $1.2 billion dual tranche bond issuance-its biggest ever mobilization for a single bond deal-for IHS Holding Limited (NYSE:IHS) ("IHS Towers") to support digital connectivity for millions of people in emerging markets in Africa, Latin America, and the Middle East.

The funds will enable the company to refinance existing debt and support organic growth across its markets

The financing package, which was supported by an initial commitment from IFC of up to $100 million, will help the company refinance some of its near-term debt and lengthen its debt maturity profile. IHS Towers, one of the world's largest independent communications infrastructure providers, builds towers, supports the deployment of mobile network operator equipment, and provides fiber connectivity for its customers.

Estimates indicate that 95 percent of people without internet access reside in low- and middle-income countries, presenting a significant opportunity to expand digital connectivity. Access to affordable, good-quality internet services is central to economic and social development, driving business growth, local economies, and access to education, healthcare, and financial services.

Dahlia Khalifa, IFC Regional Director, Central Africa and Anglophone West Africa, said, "This investment represents a transformative step toward closing the digital divide and driving sustainable, inclusive growth in emerging markets. We are proud to support IHS Towers through this partnership to help foster digital inclusion and empower businesses and individuals with greater access to digital tools that drive innovation, create jobs, and strengthen communities, especially in the most remote areas of the countries covered by this important project."

IHS Towers will continue in its efforts to integrate solar power and energy-efficient systems to reduce the carbon emissions intensity of its tower operations, ensuring it plays a central role in driving innovation and growth within the telecoms sector.

"We are proud to support innovative solutions that advance digital inclusion while prioritizing sustainability," said Sarvesh Suri, IFC Regional Industry Director, Infrastructure and Natural Resources in Africa. "Our collaboration with IHS Towers underscores our shared commitment to driving sustainable development globally, particularly in Sub-Saharan Africa, empowering communities to engage more fully in the digital economy."

IFC has been a long-standing partner of IHS Towers which operates over 40,000 towers facilitating mobile coverage and connectivity for approximately 750 million people across 10 countries: Cameroon, Côte d'Ivoire, Egypt, Nigeria, Rwanda, South Africa, Zambia, Brazil, Colombia, and Kuwait. Approximately three quarters of IHS's towers are located in Africa.

By financing mobile network operators, independent tower operators, data centers, and broadband providers, IFC is strengthening the infrastructure needed to expand digital connectivity. This effort actively bolsters Africa's digital economy while providing reliable and affordable access to millions.