Airtel Africa, one of the leading telecommunication companies in Africa has seized 10 new MHz spectrum for its operations in Nigeria.
According to a statement, the Nigerian Communications Commission (NCC) has accepted the acquisition.
The spectrum was acquired from Intercellular Nigeria Limited for a total sum of $94 million. The amount includes NCC fees.
Speaking on the acquisition, Raghunath Mandava, the Chief Executive Officer of Airtel Africa, said, “With increasing smartphone penetration, data usage and a young growing population, Nigeria represents a significant growth opportunity in data. This investment will not only strengthen our leading 4G position in mobile data but also allow us to expand our fixed wireless broadband offer to support the government agenda for faster broadband services with improved coverage and availability. At Airtel Africa, we are committed to further strengthen our spectrum portfolio when there is a clear growth opportunity and this investment demonstrates our commitment to invest, at the right price, to continue to drive our business forward.”