The International Finance Corporation (IFC), a member of the World Bank Group, yesterday announced that it has made a $25 million equity investment in Helios Towers Africa Limited (HTA) to help the company build and maintain mobile phone towers in several countries across Africa.

A statement from the Corporation yesterday said the move was to help increase mobile phone coverage and reduce communication costs in the region. According to the statement, HTA is building a pan-Africa tower company starting in Ghana and

expanding into other countries such as Tanzania. The company among other services, leases space on its mobile towers to telecom companies, helps them widen access to mobile telephony and other communications technologies. Chief Executive Officer, HTA, Charles Green explained: "IFC understands the unique needs of

growing companies in Africa's telecoms sector and has provided us with a finance package that will allow us to continue our role as the leading independent tower company in Africa, expanding and providing benefits to mobile operators and users in Sub-Saharan Africa."

The statement also quoted IFC Director of Infrastructure and Natural Resources in Africa, Latin America and the Caribbean, Bernard Sheahan to have said: "Broadening access to affordable mobile telecommunications services remains a crucial part of development across Africa . With this investment, IFC is further lowering the barriers to accessing the knowledge, innovation, and improved government and business services that mobile communications can bring," it said.