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IHS Nigeria
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 29741
Nigeria (IDA)
Sector1Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Environmental categoryB
Date SPI disclosedJuly 12, 2010
Projected board dateAugust 31, 2010
Previous EventsInvested: June 8, 2011
Signed: February 11, 2011
Approved: November 18, 2010
View Environmental & Social Review Summary (ESRS), click here
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Project description
The Project consists of an investment of up to $95 million on IFC’s account and mobilization of up to $200 million to strengthen the capital structure of IHS Nigeria Plc (“IHS Nigeria” or the “Company”) to support (i) the national and regional expansion of its current operations in the areas of Tower Management and Tower Construction; and, (ii) the acquisition, leasing and maintenance of telecom towers across Sub-Saharan Africa. IHS Nigeria was incorporated in Nigeria in 2001 as an engineering company with the primary business of building and managing sites for Telcos and third party vendors seeking to build and expand their telecom infrastructure. With over 700 employees in various cities across Africa, the Company is preparing to bid on the acquisition of existing tower networks in Nigeria, Sudan, Tanzania and DRC to provide GSM and fixed wireless operators in those countries with an economically viable and energy efficient infrastructure sharing model which will serve as an cost effective alternative to in-house construction, maintenance and ownership of telecommunication tower sites. In 2009, the Company became a publicly listed company, trading on the Nigerian Stock Exchange.

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