PROJECT

Projects

Environmental & Social Review Summary

Project Number

35725

Company Name

IHS NIGERIA LIMITED

Date ESRS Disclosed

Aug 21, 2014

Country

Nigeria

Region

Africa

Last Updated Date

Jun 12, 2021

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Sep 25, 2014
Signed : Oct 9, 2014
Invested : Nov 6, 2014

Sector

Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)

Industry

Telecommunications and Technology

Department

TMT, Venture Capital & Funds

Project Description

This project involves a proposed repeat investment by IFC in IHS Nigeria, a 100% subsidiary of IHS Holdings, also an existing IFC client. IHS Holdings owns and operates mobile telecom tower companies in Rwanda, Nigeria, Cameroon, Zambia and Cote d’Ivoire.

The project consists of the acquisition and upgrade of Etisalat’s portfolio of 2705 towers and the construction of new tower sites under a program of building towers to suit the needs of clients of IHS Nigeria. The total project cost is approximately US$1,355 million. IFC will contribute up to $50 million for its own account and raise an additional $150 million from participant banks.

Overview of IFC's Scope of Review

The review of this project consisted of IFC’s appraisal of environmental and social (E&S) documentation provided by IHS Nigeria Plc (“IHS Nigeria” or “the company”), including a set of human resources policies and procedures, a technical site survey form, an agreement between IHS Nigeria and a security services provider, and an Annual Monitoring Report covering the company’s operations in 2013.

IFC’s previous investment in IHS Nigeria (IFC project 29741) was disclosed on July 12, 2010. Based on review of the Annual Monitoring Report for 2013, the current environmental and social (E&S) performance of the company is considered to be Satisfactory.

IFC’s appraisal for the proposed new investment considered IHS Nigeria’s E&S management policies and procedures and gaps between them and IFC requirements. Where necessary, corrective measures intended to close those gaps, within a reasonable period of time, are summarized in the paragraphs that follow. Through implementation of those measures, the project is expected to be operated in accordance with Performance Standard objectives.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan