IHS Towers is a publicly traded company listed on the New York Stock Exchange (NYSE: IHS). As of December 31 2023, the largest shareholder is MTN Group Limited with an approximate 25.6 percent shareholding; the second largest shareholder of IHS Towers with an approximate 18.9 percent shareholding is entities affiliated with  Wendel SE; and other 5% or greater shareholders include Korea Investment Corporation, sovereign wealth fund of the government of South Korea, with an approximate 6.5 percent of IHS Towers and GIC Private Limited and affiliates, the Singaporean sovereign wealth fund with an approximate 5.4 percent of IHS Towers. The other 43.6 percent of IHS Towers’ shares are held by entities (including IFC with an approximate 3.5 percent) and individuals, each of whom owns less than 5 percent of the shareholding of IHS Holding Limited.                                                  

 The total Project cost is, to be financed with a combination of debt and internal cash generation. The proposed IFC investment is in the form of a purchase by IFC, for its own account, of senior unsecured bonds, to be issued by IHS Towers, for an amount of up to US$100 million.                                                                                                                                 

 IHS Towers is incorporated in the Cayman Islands. The Project will involve the refinancing existing indebtedness, including bonds.                                   

 There are no significant governance risks related to the development impact of this project.