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Airtel Redeems $300 Million of its $1 Billion Guaranteed Senior Notes

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Airtel Financial Results - Investors King

Airtel on Wednesday announced that its subsidiary, Bharti Airtel International (Netherlands) B.V., has launched a cash tender offer to redeem about $300 million of its $1 billion of 5.35% Guaranteed Senior Notes due in 2024.

According to the telecommunications giant, the tender offer will expire on 19 July 2022, unless amended or extended by BAIN at its sole discretion. However, there is an early tender deadline of 5 July 2022 for noteholders wishing to tender their notes for preferential early tender consideration.

In a statement obtained by Investors King, Airtel said “All Notes accepted for purchase will be cancelled ahead of their maturity in May 2024. BAIN reserves the right at its sole discretion to amend or waive any of the terms of the tender offer.

“A further announcement will be made following completion of the tender offer. This early redemption will be made out of Group cash reserves and aligns with the continuation of our pursuit of a reduction of external foreign currency debt at Group level.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Telecommunications

Nigeria’s Data Consumption Jumps 413.79%

Data consumption in Africa’s largest economy Nigeria rose by 413.79% in the last four years, according to the latest data from the Nigerian Communications Commission (NCC).

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Broadband Penetration - Investors King

Data consumption in Africa’s largest economy Nigeria rose by 413.79% in the last four years, according to the latest data from the Nigerian Communications Commission (NCC).

In the last four years, Nigeria’s internet population grew by 41.38 million while Nigeria’s internet data usage increased to 350,165.39 terabytes in 2021, up from 68,154.12 terabytes in 2018.

During the period under review, broadband penetration rose to 40.88% or 38.12 million users in 2021 from 19.97% or 78.04 million users in January 2018.

NCC data showed GSM internet subscribers grew by 41.39 million from 100.23 million in 2018 to 141.62 million in 2021.

This, experts attributed to growing smartphone penetration and more access to data in Africa’s largest economy.

“Smartphone penetration was up by one percentage point to 33 per cent and our data customer base grew by 14.5 per cent, now representing 34.3 per cent of our total customer base,” Airtel stated in a report.

“Data usage per customer reached 2.6 GB per customer (from 1.8 GB per customer) led by an increase in smartphone penetration and expansion of our home broadband and enterprise customers.

“This helped us grow data revenue 31.2 per cent in constant currency. Growing penetration and usage of 3G and 4G data customers helped us grow data ARPU 8.2 per cent. Fourth Generation data usage more than doubled in the year, contributing 62.2 per cent of total data usage on the network in Q4’21.”

The telecommunication giant further added that “Our improved 4G network contributed to an increase in smartphone penetration, in data customers and in up-take of large data volumes, resulting in greater data consumption per customer.”

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Telecommunications

Airtel Acquires Additional 58 MHz Spectrum Worth $42 Million

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airtel africa - Investors King

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.

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Telecommunications

An Average Device Owner Changes Devices Every 6 to 18 months – NCC Reveals

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Samsung galaxy - Investors King

The Nigerian Communications Commission (NCC) has revealed that an average device owner in Nigeria changes devices every 6 to 18 months.

The ‘Deployment of a Device Management System: Project Information Memorandum (PIM) from the National Communications Commission revealed this.

The purpose of PIM is to provide interested parties with information on the Deployment of the Device Management System (DMS) (the Transaction), which was developed by the Nigerian Communications Commission (NCC) with the assistance of the project Transaction Adviser (TA), Weircapacity Consortium, and received approval from the Infrastructure Concession Regulatory Commission (ICRC) of the Federal Republic of Nigeria (FGN).

The commission noted that “Data from Original Equipment Manufacturer (OEM) suggests that approximately 63 million devices are sold each year in Nigeria. Estimates suggest that the average device owner changes devices every six to 18 months.

“The size and turnover of the mobile device market offer vast opportunities for the implementation of a DMS.”

In 2020, the nation’s telecommunication network will have around 132 million unique devices, according to the report obtained by Investors King.

The digital economy accounts for around 15.5 percent of global Gross Domestic Product (GDP), according to the NCC, and has grown two and a half times faster than global GDP during the last 15 years.

It added, “According to NCC industry data, the telecom sector is estimated to contribute between 11 – 14 per cent per quarter to the GDP.

“This figure has been rising in the last few years consistent with increasing competition, decreasing telecom sector tariffs, and increasing teledensity. Innovations in the market such as 5G, Internet-of-Things will only further the rate of penetration of telecom devices in Nigeria which makes the DMS project a welcome development.”

The Nigerian Communications Commission (NCC) is looking at the possibility of putting in place a Device Management System (DMS) to monitor, control, and safeguard the country’s telecoms sector.

DMS is a sort of central remote management software that is used in Nigeria to monitor, manage, and secure mobile devices that are deployed across many mobile service providers and operating systems.

The DMS system will offer a single window for telecom devices, allowing the NCC to detect illegal or substandard devices that are not allowed on the Nigerian telecommunications network ahead of time. The NCC plans to implement this DMS system under a Public-Private Partnership (PPP) framework.

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