Airtel Africa buys additional spectrum for $40 million from Kenya
Airtel Africa has purchased an additional 60 megahertz (MHz) of telecommunications spectrum in the 2600 MHz band from the Communications Authority of Kenya, the wireless operator announced on Monday, its second such transaction on the continent in less than two months.
Completed at a total cost of $40 million, the acquisition by Airtel Kenya Networks Limited comes after the mobile operator paid $42 million in June for 58 MHz in the Democratic Republic of Congo, the most large country by area under its coverage.
The company previously agreed to four-part payments totaling up to $20 million over three years for its operating and spectrum license in Kenya, where it increased revenue by 20.8% in rate compound annual growth over the three years to December 2021.< /p>
Airtel Africa said in a note seen by PREMIUM TIMES "the license is valid from July 2022 for a period of 15 years."
The latest acquisition paves the way for the telecom operator to expand the reach of its 4G network capacity for mobile data and fixed wireless broadband capacity in the home and supports its potential deployment of 5G technology.< /p>
The Nigerian unit of Airtel Africa, currently the country's largest company by market value, is at its all-time high of N1,905.4 per share in Lagos. Airtel Africa, which launched its Nigerian payments unit SmartCash PSB in May, will now tread the field cautiously after Momo PSB, the payments arm of rival telco MTN Nigeria, with which it entered the market market around the same time, hit a rocky start in its bid to gain first-start advantage. Momo PSB lost an estimated 22.3 billion naira ($53.7 million) to hacker fraud in what a source with inside knowledge told PREMIUM TIMES was linked to the rush of MTNN senior executives to venture into the market ahead of other telecom companies without testing the waters in order to impress senior management and boost their chances of promotion. This January, Airtel Africa was admitted to the FTSE 100, the elite club of the 100 largest companies by market value on the London Stock Exchange.
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Airtel Africa has purchased an additional 60 megahertz (MHz) of telecommunications spectrum in the 2600 MHz band from the Communications Authority of Kenya, the wireless operator announced on Monday, its second such transaction on the continent in less than two months.
Completed at a total cost of $40 million, the acquisition by Airtel Kenya Networks Limited comes after the mobile operator paid $42 million in June for 58 MHz in the Democratic Republic of Congo, the most large country by area under its coverage.
The company previously agreed to four-part payments totaling up to $20 million over three years for its operating and spectrum license in Kenya, where it increased revenue by 20.8% in rate compound annual growth over the three years to December 2021.< /p>
Airtel Africa said in a note seen by PREMIUM TIMES "the license is valid from July 2022 for a period of 15 years."
The latest acquisition paves the way for the telecom operator to expand the reach of its 4G network capacity for mobile data and fixed wireless broadband capacity in the home and supports its potential deployment of 5G technology.< /p>
The Nigerian unit of Airtel Africa, currently the country's largest company by market value, is at its all-time high of N1,905.4 per share in Lagos. Airtel Africa, which launched its Nigerian payments unit SmartCash PSB in May, will now tread the field cautiously after Momo PSB, the payments arm of rival telco MTN Nigeria, with which it entered the market market around the same time, hit a rocky start in its bid to gain first-start advantage. Momo PSB lost an estimated 22.3 billion naira ($53.7 million) to hacker fraud in what a source with inside knowledge told PREMIUM TIMES was linked to the rush of MTNN senior executives to venture into the market ahead of other telecom companies without testing the waters in order to impress senior management and boost their chances of promotion. This January, Airtel Africa was admitted to the FTSE 100, the elite club of the 100 largest companies by market value on the London Stock Exchange.
Support the integrity and credibility journalism of PREMIUM TIMES
Good journalism costs a lot of money. However, only good journalism can guarantee the possibility of a good society, of a responsible democracy...
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