Now Reading:

AIRTELAFRI Obtains NCC Approval To Acquire Additional Spectrum

Products & Services	1011 VIEWS
Products & Services
1011 VIEWS

Monday, March 9, 2020 / 10:58 AM / NSE / Header Image Credit: Industry Wired

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:

increasing available capacity of the existing network and supporting the further roll-out of 4G network
allowing Airtel Africa to efficiently manage its capex spend for 4G network as the Company operates a single RAN network, and majority of its sites already support the activation of the additional 10 MHz spectrum of 900 MHz
enabling Airtel Africa to expand its fast-growing fixed wireless broadband offering.

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.

Visit Airtel Africa Plc IR Page in Proshare MARKETS

Graph - One Year Share Price Movement