In 2015, CDC invested $20 million in INT Towers to support the company’s continued expansion of telecommunications services in Nigeria, as well as ongoing improvements.
Nigeria has one of the largest telecomms markets in Africa. However, it's estimated that the country needs more than 13,000 new towers over the next five years to meet increasing demand for telecomms and data services, as well as to expand services to rural areas.
Our investment will be used to build new towers and refurbish existing towers, the aim of which is to enhance the quality and coverage of the network throughout Nigeria.
This will help to support an increasingly digital economy, for example, driving the take-up of mobile banking services to help serve the unbanked, and bringing text and electronic-based healthcare services to rural regions.
It will also help to modernise companies - from large multinationals to small and medium-sized enterprises - and their supply chains.
Environmental and social aspects
INT Towers is currently upgrading its current Environmental and Social Management System, and over the past few years, the company has significantly reduced diesel consumption and its environmental footprint through the installation of hybrid/solar power solutions throughout the country. It has also made significant progress in improving occupational health and safety at its sites.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Africa, West Africa
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
- 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 CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- February 2015
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.