Airtel Africa purchases additional 58 MHz spectrum worth $42m

Airtel Africa Plc on Monday announced the purchase of 58 MHz of additional spectrum spread across 900, 1800, 2100 and 2600 MHz bands, for a gross consideration of $42million.

The company in a statement on the Nigerian Exchange Limited (NGX) said the licence for paired spectrum in the 2100 band comes up for renewal in September 2032, stating that all the other licences continue until July 2036.

The statement added that, “This additional spectrum will support our 4G expansion in the market for both mobile data and fixed wireless home broadband capability, providing significant capacity to accommodate our continued strong data growth in the country. DRC is the largest country by area in our portfolio and our second largest market by population.“This investment reflects our continued confidence in the tremendous opportunity inherent in the DRC, supporting the local communities and economies through furthering digital inclusion and connectivity.”