Airtel Africa Acquires 10 MHz Spectrum

• Airtel Africa Acquires 10 MHz Spectrum

Airtel Africa Plc, one of the leading telecommunication companies in Africa, said it has acquired 10 new MHz spectrum for its operations in Nigeria.

In the statement released through the Nigerian Stock Exchange (NSE) on Monday morning, the telecom giant said the Nigerian Communications Commission (NCC) has approved the acquisition.

The company revealed that the spectrum was acquired from Intercellular Nigeria Limited for a total sum of $94 million. The amount includes NCC fees.

Speaking on the acquisition Raghunath Mandava, the Chief Executive Officer of Airtel Africa Plc, said: “With increasing smartphone penetration, data usage and a young growing population, Nigeria represents a significant growth opportunity in data. This investment will not only strengthen our leading 4G position in mobile data but also allow us to expand our fixed wireless broadband offer to support the government agenda for faster broadband services with improved coverage and availability.

“At Airtel Africa, we are committed to further strengthen our spectrum portfolio when there is a clear growth opportunity and this investment demonstrates our commitment to invest, at the right price, to continue to drive our business forward.”