IFC announces Helios Towers Africa investment

13 Jan 2011

Online portal PressZoom reports that the International Finance Corporation (IFC), part of the World Bank Group, has announced a USD25 million investment in Helios Towers Africa Limited (HTA). The cash injection will help support HTA’s plan to build and maintain mobile phone towers in a number of sub-Saharan countries, as it looks to improve mobile phone access and reduce communication costs in the region. The tower company has already begun building infrastructure in Ghana and intends to expand coverage to Tanzania. HTA is championing a business model in which it rents capacity on its mobile towers to other telecom companies.

HTA was created in 2009 by Helios Investment Partners with a remit to replicate affiliate, Helios Towers Nigeria’s business rollout, which in 2005 became the first independent tower company in Africa. Last year HTA formed Helios Towers Ghana Limited to acquire and lease back approximately 750 towers in the country to mobile operator Tigo Ghana, backed by Millicom International Cellular (MIC), and recently, the tower company announced that it will acquire an additional 1,020 sites from MIC in Tanzania.