Airtel Africa unveils acquisition of $316.7m 5G spectrum
By Cynthia Ezekwe
Airtel Africa plc,a multinational company that provides telecommunications and mobile money services has announced that its Nigerian subsidiary, Airtel Networks Limited (Airtel Nigeria), has purchased 100 MegaHertZ (MHz) of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from the Nigerian Communications Commission (NCC) for a gross consideration of $316.7m, payable in local currency.
This was disclosed in a report dated 9 January 2023, signed by Simon O’Hara, the group company secretary and published on the NIgerian Exchange(NGX) platform.
Airtel Africa,a subsidiary of Bharti Airtel, an Indian telecommunications company noted that the acquisition of 5G spectrum will underpin the company’s growth strategy by enabling the launch of higher speed connectivity to enhance customer service and accelerate digitalisation for consumers, enterprises and the public sector.
The company also stated that the additional spectrum will support its investments in network expansion for both mobile data and fixed wireless home broadband capability, including 5G rollout, which will provide significant capacity to accommodate the company’s strong data growth in the country and exceptional customer experience.
The telecommunications giant also pointed out the benefits of 5G spectrum, which includes higher speed, lower latency, significant network capacity as well as an improved user experience.
It further disclosed that the deployment of 5G will accelerate the availability and efficiency of fixed wireless access products across the country, contributing towards Airtel Nigeria’s progress in meeting the National Broadband Plan targets.
“The acquisition of 2600MHz spectrum will complement our already strong spectrum position in the market to enhance network capacity and future proof our growth opportunity,’’ the company added.
Commenting on the 5G spectrum acquisition, Segun Ogunsanya, CEO of Airtel Africa, described the Nigerian market as a place with enormous potential for future growth in mobile services.
Ogunsanya noted that investment in new technologies and local infrastructure to enable this growth is a strategic priority for Airtel, adding that the company will ensure it provides reliable and affordable services to local communities across the country.
5G is critical to these ambitions, and we look forward to launching new services to drive further digitalisation across the country, facilitate economic progress and transform lives across Nigeria,” he said.