Airtel Acquires Additional 58 MHz Spectrum Worth $42 Million

Airtel Africa, a leading telecommunication provider has announced the purchase of 58 megahertz (MHz) spectrum worth $42 million for the Democratic Republic of Congo (DRC).

In a document obtained by Investors King, Airtel revealed that the additional 58 MHz spectrum would be spread alongside 900, 1800, 2100, and 2600 bands across the 14 countries Airtel operates in Africa.

Airtel noted that this investment reflects its confidence in the tremendous opportunity inherent in Congo. It also authenticated the company’s support for the local communities and economies through furthering digital inclusion and connectivity.

The license for the paired spectrum in the 2100 band comes up for renewal in September 2032, while other licenses will be up for renewal in July 2036.

Investors King also gathered that the additional spectrum will support the 4G expansion in the market for both mobile data and fixed wireless home broadband capability by providing significant capacity to accommodate the continued strong data growth in Congo.

Accordingly, Airtel explained that Congo is the largest country according to their data portfolio, and the second-largest market by population.

This comes on the heels of the company’s full super-agent license granted by the Central Bank of Nigeria (CBN) about a month ago.

The final approval came a few months after approval-in-principle was granted in November 2021. Approval-in-principle is a temporary approval that is subject to meeting specific requirements over the next six months, Investors King reported.

Six months down the line, Airtel Africa has met all the requirements and finally received a full super-agent licence to expand its agency network across Nigeria.

“The licence allows us to create an agency network that can service the customers of licenced Nigerian banks, payment service banks and licenced mobile money operators in Nigeria,” Airtel Africa stated.

The clearance is in accordance with the Central Bank of Nigeria’s aim of increasing financial inclusion by bringing financial services to the country’s unbanked and underbanked.