By Jonathan Shieber
@ WSJ Blogs
The $1 billion financing for African mobile telecommunications infrastructure developer IHS Towers is yet another sign that global investors are warming up to investing on the continent again.
The Lagos-based company manages cellular towers for mobile phone carriers in Africa, a business that sits at the intersection of Africa’s consumer revolution and infrastructure needs, according to Emerging Capital Partners managing director and founding partner, Bryce Fort. “IHS is a consumer play through infrastructure,” he said.
One of the tenets of Emerging Capital Partners’ investment strategy is to back those infrastructure businesses that are growing because of expanding domestic demand. The firm also backs companies selling services to Africa’s consumer class across a number of different industries.
“Investors are becoming more comfortable with the African story,” Fort said. “The fundamental change has been happening for over a decade, but now funding is coming in with…
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