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Telecommunications company IHS has raised US$130mn to strengthen its market presence and accelerate the growth of its company

Funds will be used for acquisitions and investment in new telecommunications infrastructure, IHS said. 
According to the company, it will also help its customers expand coverage and capacity by building new towers, and continue investing in alternative energy and green solutions that have a positive effect on communities throughout Africa. 
Issam Darwish, vice-chairman and CEO of IHS, said, "The funds will allow us to continue investing in technology, coverage and capacity new build sites, and the growing human resource component that will help IHS continue to provide a quality service and product to an expanding customer base in Africa."

The company had reportedly raised more than US$1.6bn in funding in the past year as mobile operators across Africa are increasingly look to sell their towers to third-party management companies in order to reduce costs as markets become more competitive.

In March 2014, IHS raised US$420mn in equity and US$70mn in debt to fund its expansion across the continent, according to a report from Reuters.

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