BluePeak Private Capital has announced it is pumping money into ieng, a pan-African provider of engineering and construction, operations and maintenance, and hybrid power solutions to the growing African telecom sector.
BluePeak’s $20 Million growth capital will support ieng’s geographical expansion plans across the African continent. This will enable ieng provide innovative and cost-effective solutions to a broader range of clients and industries.
Additionally, the investment will advance ieng’s strategy to meet growing consumer demand for telecom infrastructure services boosting connectivity for last-mile access and deepening the firms’ footprint by providing catalytic capital for new contracts with blue-chip clients.
ieng was established in 2007 in Ghana. It has gradually expanded its operations to being a prominent service provider to blue-chip tower companies and mobile network operators across Africa.
Over the years, the company says they have developed an extensive track record, maintaining a portfolio of more than 23,000 towers on behalf of clients in growing economies across the continent. These are clients in Kenya, Uganda, Nigeria, Ghana, the Democratic Republic of Congo, and beyond.
Furthermore, ieng says it has established an in-house hybrid power solution to reduce carbon emissions of telecom towers through transformative means.
The telecommunications sector is poised for onward growth in Africa, on the back of:
- Growing mobile penetration
- Increasing number of internet users
- The rollout of 4G and 5G towers to improve and expand the quality of connectivity.
ieng believes it is well-positioned to leverage its competitive geographic reach and long-term relationships with clients to capitalise on the market opportunity and further scale its operations.
The investment is aligned with the BluePeak’s impact agenda and will support ieng in strengthening mobile and internet connectivity and promoting evolutionary hybrid power solutions.
What they said:
Rami Matar, Partner at BluePeak Private Capital, commented: “Through reliable services and a strong track record, ieng has managed to position itself as a preeminent service provider to blue-chip telecom clients in Africa, competing head-to-head with global service providers. We are excited to support ieng and fund its growth plans as development in telecommunications narrows the gap in Africa’s digital divide and is a critical enabler of economic development, productivity, and inclusive growth.”
Rami Shibley, Founder, and CEO of ieng said: “We are excited to start this long-term partnership with BluePeak to support ieng’s continuous growth and development. The investment provides critical capital, enabling ieng to meet the increasing demand for reliable telecom services, improved connectivity, and more efficient power solutions”.