Airtel Africa Plc (NGX: AIRTEAFRI) says that its Kenya subsidiary, Airtel Kenya Networks Limited has acquired 60 MHz of additional spectrum in the 2600 MHz band from the Communications Authority of Kenya, for a gross consideration of $40m.
This telecommunication giant disclosed this in a filing with the Nigerian Exchange on Monday.
Airtel Africa said the licence is valid for 15 years starting from the month of July 2022.
The company that 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.”
It added that Airtel Kenya is one of its largest markets by revenue.
Airtel Africa stressed that this investment reflects the company’s “continued confidence in the opportunity inherent in the Kenya market, supporting the local communities and economies through furthering digital inclusion and connectivity.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.