TIDMAAF

RNS Number : 5258T

Airtel Africa PLC

25 July 2022

Airtel Africa plc

('Airtel Africa', or the 'Group')

Kenya Spectrum Acquisition

London and Lagos, 25 July 2022: Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today a nnounces 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 licence 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.

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.

-ENDS-

Enquiries

 
 Airtel Africa - Investor Relations 
  Pier Falcione                             +44 7446 858 280 
  Morten Singleton                          +44 7464 830 011 
  Investor.relations@africa.airtel.com      +44 207 493 9315 
 
 Hudson Sandler 
  Nick Lyon 
  Emily Dillon 
  airtelafrica@hudsonsandler.com          +44 207 796 4133

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

www.airtel.africa

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQSEWFWLEESEDW

(END) Dow Jones Newswires

July 25, 2022 02:00 ET (06:00 GMT)

Airtel Africa (LSE:AAF)
Historical Stock Chart
From May 2023 to Jun 2023 Click Here for more Airtel Africa Charts.
Airtel Africa (LSE:AAF)
Historical Stock Chart
From Jun 2022 to Jun 2023 Click Here for more Airtel Africa Charts.