Airtel Africa acquires 4G and 5G spectrum in Nigeria

Airtel Africa, a provider of telecommunications and mobile money services, said that its Nigerian subsidiary, Airtel Networks Limited, said it has acquired 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from the Nigerian Communications Commission for a gross consideration of $316.7 million, payable in local currency.

The company noted that the additional spectrum will support investments in network expansion for both mobile data and fixed wireless home broadband capability, including 5G rollout, providing significant capacity to accommodate continued strong data growth in the country and exceptional customer experience. Nasdaq