Airtel Africa plc ("Airtel Africa"), a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today confirms that it has finalized the acquisition of 10 MHz spectrum in the 900 MHZ band in Nigeria from Intercellular Nigeria Limited for a total consideration of USD 94 million, including Nigerian Communications Commission ("NCC") fees and in line with the NCC Spectrum Trading Guidelines. The NCC has approved the spectrum acquisition, first announced on 14 November 2019.
This additional spectrum will be important in reinforcing Airtel Africa's leading 4G position in its largest market by:
The acquisition of the 10 MHz spectrum will also provide more opportunities for data/digital services as well as home broadband services; improve both voice call quality and data experience and deepen Airtel Africa's competitiveness in the Nigerian market, thereby making it the preferred choice for telecommunications consumers.
In the nine months' period ended 31 December 2019, Airtel Nigeria's revenue increased by more than 23%, with data growth being the largest contributor. Data revenue increased by 75% during the period, driven by both data customer and ARPU growth, as a result of our leading 4G network.
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