Airtel Africa PLC Nigeria 4G and 5G Spectrum Acquisition (0125M)
January 09 2023 - 2:00AM
UK Regulatory
TIDMAAF
RNS Number : 0125M
Airtel Africa PLC
09 January 2023
Airtel Africa plc
('Airtel Africa', or the 'Group')
Nigeria 4G and 5G Spectrum Acquisition
London and Lagos, 9 January 2023: Airtel Africa, a leading
provider of telecommunications and mobile money services, with a
presence in 14 countries across Africa, a nnounces that its
Nigerian subsidiary, Airtel Networks Limited ('Airtel Nigeria'),
has purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of
2600MHz from the Nigerian Communications Commission (NCC) for a
gross consideration of $316.7m, payable in local currency. This
additional spectrum will support our investments in network
expansion for both mobile data and fixed wireless home broadband
capability, including 5G rollout, providing significant capacity to
accommodate our continued strong data growth in the country and
exceptional customer experience.
Airtel Nigeria is Airtel Africa's largest market, with
significant growth potential. The company led the industry in
providing affordable 4G services across the country following the
deployment of a fully modernised network which facilitated a 4-fold
increase in data traffic over the last three years. The penetration
of data customers in Nigeria remains low, providing significant
opportunity for future growth.
The acquisition of 5G spectrum will underpin our growth strategy
by enabling the launch of higher speed connectivity to enhance
customer service and accelerate digitalisation for consumers,
enterprises and the public sector. The key benefits of 5G will
include higher speeds, lower latency, significant network capacity
as well as an improved user experience. Furthermore, the deployment
of 5G will accelerate the availability and efficiency of fixed
wireless access products across the country, contributing towards
Airtel Nigeria's progress in meeting the National Broadband Plan
targets. The acquisition of 2600MHz spectrum will complement our
already strong spectrum position in the market to enhance network
capacity and future-proof our growth opportunity.
Segun Ogunsanya, CEO of Airtel Africa commented:
"Nigeria is a market with enormous potential for future growth
in mobile services. Investment in new technologies and local
infrastructure to enable this growth is a strategic priority for
the Group and will ensure we are able to provide reliable and
affordable services to local communities across the country. 5G is
critical to these ambitions, and we look forward to launching new
services to drive further digitalisation across the country,
facilitate economic progress and transform lives across
Nigeria."
-ENDS-
Enquiries
Airtel Africa - Investor Relations
Pier Falcione +44 7446 858 280
Alastair Jones +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
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