Airtel Buys Additional 60MHz Spectrum for $40 Million

Airtel Kenya Networks Limited, a subsidiary of Airtel Africa has acquired 60 MHz of additional spectrum in the 2600 MHz band from the Communications Authority of Kenya, for a gross consideration of $40million.

In a disclosure filed to the Nigerian Exchange, the company stated that the additional spectrum will support its 4G network capacity expansion in the market.

According to the company, the new license is valid for a period of 15 years starting from July 2022.

It said, “Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces that its Kenya subsidiary, Airtel Kenya Networks Limited (‘Airtel Kenya’), has purchased 60 MHz of additional spectrum in the 2600 MHz band from the Communications Authority of Kenya, for a gross consideration of $40m. The license is valid from July 2022 for a period of 15 years.

“This additional spectrum will support our 4G network capacity expansion in the market for both mobile data and fixed wireless home broadband capability, and will allow for future 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country.

Read More: Airtel Acquires Additional Spectrum for $42 Million to Support 4G Expansion

“Airtel Kenya is one of our largest markets by revenue. This investment reflects our continued confidence in the opportunity inherent in the Kenya market, supporting the local communities and economies through furthering digital inclusion and connectivity.”

In related news, last month Airtel Africa purchased additional spectrum worth around US$42 million in the Democratic Republic of Congo.

Specifically, the company acquired 58MHz of additional spectrum spread across the 900, 1800, 2100 and 2600MHz bands.

By April, Airtel Africa joined the Joint Alliance for CSR (JAC), an industry body that promotes sustainability through supply chains.
The operator, which earlier this year marked its membership of the FTSE 100 share listing by revealing its revenue was up almost 25% and earnings by 34%, says it is aiming to promote digital and financial inclusion across Africa.