ICT infrastructural investment 'to help African countries'
17 January 2011
ICT infrastructure is to improve in Africa after the International Finance Corporation (IFC) invested in Helios Towers Africa (HTA).
Some $25 million (£15.7 million) is being ploughed into the company so mobile phone towers can be built and maintained throughout countries in the continent, the African Press Organisation reports.
Helios chief executive officer Charles Green said: "IFC understands the unique needs of growing companies in Africa's telecoms sector and has provided us with a finance package."
He added the terms of the deal will allow the group to remain the "leading independent tower company in Africa".
Bernard Sheahan, IFC director of infrastructure and natural resources in Africa, noted the service is "crucial" to fostering further development in the market.
HTA is believed to be building a pan-African tower company that will cover from Ghana to Tanzania.
The BBC recently revealed ICT infrastructure in Zambia is being brought to rural communities.