Nigeria’s digital future strengthened by successful us$800 million ihs bond issue supported by eaif _ emerging africa infrastructure fund

12 January 2017 Nigeria’s digital future strengthened by successful US$800 million IHS bond issue supported by EAIF Bond “Boosted Nigeria’s ability to raise money on international capital markets”, says EAIF chairman

The Emerging Africa Infrastructure Fund (EAIF) has invested US$50 million in an US$800m bond issued by the Nigerian telecommunications tower business, IHS. Rural bank online EAIF and the International Finance Corporation were named anchor investors in the bond issue. Regional rural bank merger latest news Launched in early October, the bond was successfully marketed and details of EAIF’s investment can now be made public. Elders rural bank EAIF is a member of the Private Infrastructure Development Group (PIDG).

With the bond, EAIF is directly contributing to the development of Nigeria’s telecommunications, IT and digital economy and supporting an issue that allows a leading Nigerian company to participate in an international capital market fundraising.


Rural bank limited The exercise has also helped grow the expertise and experience of the legal and financial professionals in Nigeria involved in the process and attract capital from across the world. Ahantaman rural bank While EAIF’s primary role is to finance private sector developers to create or expand infrastructure that can stimulate economic development and help fight poverty, it also has a remit to help build expertise and capacity in financial markets in sub-Saharan Africa, where that is possible and feasible.

“This was a large bond issue for the Nigerian market and one of significant strategic importance. Regional rural bank officer scale 1 salary Accelerating the development of the country’s telecommunications infrastructure is central to stimulating the entire Nigerian economy. Kumawuman rural bank Every Nigerian stands to benefit from investment in digital infrastructure. Mizoram rural bank We are pleased to have been involved in helping to strengthen the telecommunications sector and in boosting Nigeria’s ability to raise money on international capital markets.”

IHS will invest at least US$50 million of the proceeds of the bond in developing its infrastructure across Nigeria, where urbanisation, population increases and rapidly growing use of smartphones is straining capacity and forcing up demand. Arunachal pradesh rural bank IHS is one of the largest telecommunications tower owners and operators in Africa and has towers in all 36 of Nigeria’s states, with the majority in densely populated areas.

Nigeria is Africa’s largest telecommunications market, representing 15% of the continent’s telecommunications industry. Ga rural bank The country is forecast to have 60 million additional mobile phone users by 2020 and by then the population is expected to be 205 million, an increase of 26 million. Regional rural bank recruitment 2015 notification 48% of Nigeria’s people already live in urban areas.

Reducing congestion on the nation’s telecommunications infrastructure and creating new capacity is essential to facilitating a dynamic private sector economy and the efficiency of public services. Meghalaya rural bank The Nigerian authorities recognise the core role of telecommunications to economic development and are actively encouraging the country’s communications businesses to invest in expanding capacity.

IHS operates a tower sharing strategy. Regional rural bank vacancy 2016 As it expands its network of towers into urban and rural areas, capacity can be opened up to new operators. Agribusiness rural bank That has the potential to stimulate competition between operators, helping foster the conditions to bring consumers keener pricing, wider coverage, more reliable service quality and access to new products and technologies.

In addition to business expansion, IHS will use some of the proceeds from the bond to refinance existing loans and general corporate purposes. Regional rural bank recruitment 2015 16 The bond was launched in Nigeria on 12th October and has been successfully placed.

EAIF is part of the donor-backed Private Infrastructure Development Group. Regional rural bank syllabus EAIF is funded by the governments of the UK (DFID), Switzerland (SECO), Sweden (Sida) and The Netherlands (DGIS) and by private sector banks and development finance organisations. Nagaland rural bank The Fund’s primary purpose is to stimulate private sector infrastructure projects that help develop new sustainable economic activity and new jobs, thus helping to reduce poverty.

EAIF is managed by Investec Asset Management, one of the largest third party investors in private equity, credit, public equity and sovereign debt across the African continent. Rural bank definition Investec Asset Management won the mandate to manage the US$670m EAIF in May 2016, following a competitive tender process.

“As a business with its roots in Africa, we are particularly pleased to have been instrumental in the success of the bond issue. Regional rural bank meaning As joint anchor investor EAIF played a key role in stimulating awareness and confidence in the issue and demonstrating international appetite for investing in strong African businesses.” *

The Emerging Africa Infrastructure Fund provides a variety of debt products to infrastructure projects promoted mainly by private sector businesses in sub-Saharan Africa. Regional rural bank definition Established and substantially funded by the governments of The Netherlands, Switzerland, Sweden and the United Kingdom, the Fund works with private sector businesses, African and European banks and other development funds and agencies. Regional rural bank official website It helps create the infrastructure framework that is essential to sustained economic stability, business confidence, job creation and poverty reduction. Rural bank foreclosed properties It has to date supported nearly 60 infrastructure projects across eight sectors in 20 sub-Saharan African countries.

The Private Infrastructure Development Group (PIDG) encourages and mobilises private investment in infrastructure in the frontier markets of sub-Saharan Africa, south and south-east Asia, to help promote economic development and combat poverty. Rural bank internet Since 2002, PIDG has supported 133 infrastructure projects to financial close and provided 265 million people with access to new or improved infrastructure. Rural bank australia PIDG is funded by donors from seven countries (UK, Switzerland, Australia, Norway, Sweden, Netherlands, Germany) and the World Bank Group.

Investec Asset Management is a specialist investment manager, providing a premier range of products to institutional and individual investors. Sugbuanon rural bank Established in 1991, the firm has been built from start-up into an international business managing more than R1.6 trillion * on behalf of third party clients. Sekyere rural bank The business has grown largely organically from domestic roots in Southern Africa to a position where we proudly serve a growing international client base from the Americas, the UK and Continental Europe, Asia, the Middle East, Australia and Africa. Rural bank interest rates The firm seeks to create a profitable partnership between clients, shareholders and employees, and to exceed expectations for both client service and performance.

The information contained in this press release is intended primarily for journalists and should not be relied upon by private investors or any other persons to make financial decisions. Regional rural bank headquarters All of the views expressed about the markets, securities or companies in this press comment accurately reflect the personal views of the individual fund manager (or team) named. Akuapem rural bank While opinions stated are honestly held, they are not guarantees and should not be relied on. Adansi rural bank Investec Asset Management in the normal course of its activities as an international investment manager may already hold or intend to purchase or sell the stocks mentioned on behalf of its clients. Rural bank internet banking The information or opinions provided should not be taken as specific advice on the merits of any investment decision. Rural bank functions Telephone calls may be recorded for training and quality assurance purposes. Functions of regional rural bank Investec Asset Management is an authorised financial services provider.