From Abubakar Yunusa, Abuja
Airtel Africa has announced that its Nigerian subsidiary, Airtel Networks Limited (Airtel Nigeria), has made a payment of N58.7 billion to the Nigerian Communications Commission (NCC) to renew its 2x10MHz 2100MHz spectrum licence.
Once renewed, the group said the licence will be valid for a period of 15 years following the expiry of the previous licence on 31 April 2022.
The group made the disclosure in a statement posted to the Nigerian Exchange Limited (NGX) website, signed by the company secretary, Simon O’Hara.
“This investment to renew the licence reflects our continued confidence in the opportunity inherent across the Nigerian market, supporting the local communities and economies through furthering digital inclusion and connectivity,” the group said.
Airtel Nigeria had earlier in January announced the acquisition of a 5G spectrum and an additional spectrum for its 4G network for a total sum of $316.7 million.
According to a statement by the local unit of Airtel Africa, the decision is part of its commitment to deepen higher-speed connectivity in Nigeria by way of 5G cellular technology.
The company said that it purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from the Nigeria Communications Commission (NCC), for a gross consideration of $316.7m, payable in the local currency.
Last April, Airtel Africa got the Central Bank of Nigeria’s endorsement to run a payments unit named Smartcash Payment Service Bank Limited and subsequently, launched operations in Lagos and the rest of the country.
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