IHS Zambia Ltd

Zambia Communications and IT Services

IHS Zambia Limited is the sole and leading independent tower operator in Zambia – owning and operating over 1,700 telecommunications towers.

It is a wholly owned subsidiary of the IHS Towers Group – the largest independent tower operator in Africa – which has a presence in Nigeria, Cameroon, Cote d’Ivoire, Rwanda and Zambia.

  • Active
  • Exited

This investment was made when British International Investment was named CDC Group.

We are invested in IHS Zambia Ltd through Ninety One Africa Credit Opportunities Fund (Investec), which is managed by Investec Asset Management.

We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, British International Investment takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Exited
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, East Africa
Countries:
Zambia
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Communications and IT Services
Website:
https://www.ihstowers.com/group/countries/zambia/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Ninety One Africa Credit Opportunities Fund (Investec)
Fund Manager:
Investec Asset Management
Start date

For direct investments, this is the date British International Investment committed capital to the business or project.

For funds, this is the date that British International Investment committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
December 2014
End date

For direct equity investments, this is the date at which British International Investment exited the investment.

For debt investments, this is the date at which the final debt repayment was made.

For funds, this is the date at which the fund was terminated.

For underlying fund investments, this is the date at which the fund manager exited the investment.

:
March 2021
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Zambia

This investment was made when British International Investment was named CDC Group.

Our investment

In 2015, CDC invested $40 million in IHS Zambia, and a further $26 million in 2017. Our investment will support the development of telecommunications towers across the country to improve accessibility and reliability of coverage.

Environmental and social aspects

IHS Zambia is in the process of upgrading its current Environmental and Social Management System.

Over the past few years, the company has significantly reduced diesel consumption and its environmental footprint through the installation of hybrid and solar power systems throughout the country.

Key facts

Status:
Exited
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, East Africa
Countries:
Zambia
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Communications and IT Services
Website:
https://www.ihstowers.com/group/countries/zambia/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Debt
Start date

For direct investments, this is the date British International Investment committed capital to the business or project.

For funds, this is the date that British International Investment committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
October 2015
End date

For direct equity investments, this is the date at which British International Investment exited the investment.

For debt investments, this is the date at which the final debt repayment was made.

For funds, this is the date at which the fund was terminated.

For underlying fund investments, this is the date at which the fund manager exited the investment.

:
March 2021
Amount

For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that British International Investment has committed to the fund.

:
$65.52m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Zambia

We are now British International Investment