Airtel Africa obtains 10-year spectrum licences in Kenya worth $10m

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, on Monday announced that its Kenya subsidiary, Airtel Kenya Networks Limited (‘Airtel Kenya’), has agreed on settlements with the Communications Authority of Kenya regarding its operating and spectrum licences, and received approval for the replacement of its temporary licence with a 10-year frequency licence for 2×10 MHz of spectrum in the 2100 MHz band.

The Group Company Secretary, Simon O’Hara in a signed statement on the Nigerian Exchange Limited noted that the, “In respect of settlements regarding 2015-2025 operating and spectrum licence, Airtel Kenya will pay a total of c.$20million in four installments over the next three years.

“In respect of the 2×10 MHz licence, 2022-2032, Airtel Kenya has agreed to a 10-year licence for $10million. Airtel Kenya is one of our largest markets by revenue, and from FY’18 to FY’21 grew revenues by 20.8per cent CAGR.

“This $30million investment reflects our continued confidence in the tremendous opportunity inherent in the Kenya market.”