Airtel Finalises $94m Spectrum Purchase

Airtel Africa Plc says it has completed the spectrum acquisition for a sum of $94m after obtaining approval from the Nigerian Communications Commission.

The telecommunications company said in a statement on Monday that it acquired the 10 megahertz spectrum in the 900 megahertz band in Nigeria from Intercellular Nigeria Limited.

The company explained that the $94m included NCC fees in line with the commission’s Spectrum Trading Guidelines.

The telecoms company had initially announced the deal in November 2019.

According to Airtel, the additional spectrum would help reinforce its 4G position in Nigeria and increase available capacity of the existing network.

The telco added that the new spectrum would provide more opportunities for data and home broadband services, improve both voice call quality and data experience and deepen Airtel Africa’s competitiveness in Nigeria.