Airtel Africa Acquires DRC Spectrum for $42m

Airtel Africa Acquires DRC Spectrum for $42m

Airtel Africa, a leading provider of telecommunications and mobile money services today announces the purchase of 58 MHz of additional spectrum spread across 900, 1800, 2100 and 2600 MHz bands.

According to a statement, the telecom giant hints that the acquisition was made for a gross consideration of $42 million. It said the licence for paired spectrum in the 2100 band comes up for renewal in September 2032.

All the other licences continue until July 2036, according to Airtel Africa.

“This additional spectrum will support our 4G expansion in the market for both mobile data and fixed wireless home broadband capability, providing significant capacity to accommodate our continued strong data growth in the country.

“DRC is the largest country by area in our portfolio and our second largest market by population. READ: 5G Auction: Nigeria Plans to Achieve Largest Coverage in Africa

“This investment reflects our continued confidence in the tremendous opportunity inherent in the DRC, supporting the local communities and economies through furthering digital inclusion and connectivity”, Airtel Africa explains. #Airtel Africa Acquires DRC Spectrum for $42m