posted at 23:51
Author: Chris O'Brien
Mon, 03 Nov 2014 07:43:51 +0000
Investors drop $2.6 billion in big boost to Africas mobile networks
Africa's mobile infrastructure just got a huge lift from the biggest round of funding the continent has seen in years. IHS, a Nigerian phone tower company, said it received $2 billion in equity and $600 million in debt, according to Reuters. The company said the money will finance a major expansion of its infrastructure as well as acquisitions. The funding appears to be the largest equity fundraising in Africa since at least 2010. IHS runs a network of phone towers that other African companies lease to provide their mobile phone and Internet services.

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