HTA is a Mauritian registered entity established to hold ownership interests in operating subsidiaries across Africa. The company’s sponsor is Helios Investment Partners (“Helios”), which operates the Helios Investors II L.P. fund in which IFC has invested. Helios is a private equity investment firm that is focused on Sub-Saharan Africa. The firm was founded and is managed by Africans who are former Principals of Texas Pacific Group. Helios’ approach combines private equity investment skills with a high degree of hands-on operational involvement in portfolio companies.

The project cost is estimated to be $375 million equivalent of equity capital, mainly to capitalize the Company’s operating subsidiaries. IFC intends to provide $25 million in the form of equity for its own account.

25.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	25.0

* These investment figures are indicative

Helios Towers Africa Limited is incorporated in Mauritius. The company’s infrastructure and operations will spread across Africa.

By contributing to the cost effective expansion of Africa's wireless telecommunications tower network, this project will: (i) Expand mobile telephony access: With the construction of additional tower sites, existing mobile operators will be able to expand the reach of their services both in terms of geography and capacity. In addition, collocation reduces the incremental cost of expanding service for all carriers thereby allowing them to service remote and economically less developed areas where ARPU and usage will be lower. (ii) Increase competition: The presence of Helios Towers Africa will allow smaller and newer wireless operators to benefit from reduced barriers to entry as they will have access to leased tower facilities rather than having to build their own. (iii) Expand access to other ICT technologies: Helios Towers Africa, through its subsidiaries, will be building a tower network that is capable of supporting not only mobile cellular networks, but also wireless broadband and backhaul networks, thereby improving the penetration of these technologies. (iv) Contribute to mitigating environmental impact and Climate Change: The underlying projects developed by the Company will provide a cost effective opportunity to telecommunication operators to reduce their carbon emission footprint by sharing infrastructure. A significant benefit of sharing tower infrastructure arises from the material, energy and emissions savings that ensue from building only one tower instead of three or four.

IFC will uniquely contribute to the Project in the following ways: (i) Knowledge Sharing: IFC has developed good relationships with the major telecom operators in Sub-Saharan Africa and will make its experience available to the company. (ii) Establish and Maintain Good Social and Environment Standards, Anti-Corruption and Anti-Money-laundering practices: IFC will work with HTA to ensure it develops and implements related policies and procedures that address these critical issues as HTA expands and builds-out its operations through subsidiaries in different countries across the region. This will build upon the work already undertaken with the Helios Towers Nigeria project. (iii) Enhanced Opportunity to Provide Long-Term Funding. Given that the build out of shared telecom infrastructure is capital intensive, IFC's ability to mobilize long term capital for operations of the Company's subsidiaries in frontier markets such as Sub-Saharan Africa is essential.

The key issues associated with the project are environmental, health, safety, and social management; construction of towers; labor and working conditions (including employee and contractor occupational health and safety); pollution prevention and abatement; and community engagement. This has been classified as a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects. As a condition of IFC’s investment, HTA will commit to developing and implementing a Social and Environmental Management System for ensuring that all relevant social and environmental risks and impacts are managed as appropriate. Specific information about how risks, impacts and opportunities will be addressed by HTA is summarized in the Environmental and Social Review Summary for the project.