Helios Towers Africa plans ‘$200mn expansion’
- Published on 17 July 2012
Mobile tower operator Helios Towers Africa is near to attaining $200 million in finance as part of its plan to expand its presence on the continent, according to a Dow Jones report.
An investment arm of the World Bank Group, the International Finance Corporation, reportedly intends to make a $100 million commitment to Helios from two of its funds.
Meanwhile, the remainder of the $200 million capital is to come from undisclosed and existing investors, according to the report.
Helios Towers Africa - which says it owns over 3,500 towers on the continent - has operations in Ghana, Tanzania, the Democratic Republic of Congo and Nigeria.
The tower operator specialises in building new towers and enabling operators to share existing base stations.