Airtel Africa PLC said Monday that it has bought additional spectrum to support the growth of its 4G services and 5G roll-out in Nigeria for $316.7 million.
The Africa-focused telecom and mobile money-services provider said that its subsidiary Airtel Networks Ltd. purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from the Nigerian Communications Commission and will pay for the transaction in local currency.
“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,” Chief Executive Segun Ogunsanya said.
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