Fakoyejo OlalekanAirtel Africa has acquired 5G spectrum and more 4G spectrum for its operation in Nigeria, as the company look to improve its internet service amid competition from Elon Musk’s Starlink, MTN and other industry rivals.
According to the Group Company Secretary, Simon O’Hara, in a statement released on Monday, Airtel Africa acquired the spectrums at the cost of $316.7 million.
Recall that Airtel Africa had secured to license to the 5G spectrum late last year after no other company entered a bid to compete.
Airtel’s announcement comes days after Nigerians started reacting to the commencement of Starlink’s internet service in the country.
Prime Business Africa had reported that Nigerians will have to pay half a million naira to acquire Starlink hardware and pay $43 per month for subscription.
Also, in December 2021, MTN Nigeria and Mafab Communications had acquired 5G spectrum, with Airtel dropping out of the auction.
With competition becoming intense in the internet market, Airtel stated the spectrum will enable the firm expand its network for both mobile data and fixed wireless home broadband capability, including 5G rollout.
The statement reads that Airtel has “purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from NCC, for a gross consideration of $316.7m, payable in local currency.
“This additional spectrum will support our investments in network expansion for both mobile data and fixed wireless home broadband capability, including 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country.
“The deployment of 5G will accelerate the availability and efficiency of fixed wireless access products across the country”
Speaking on the acquisition, the Chief Executive Officer of Airtel Africa, Segun Ogunsanya, said: “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.
“5G is critical to these ambitions, and we look forward to launching new services to drive further digitalisation across the country, facilitate economic progress and transform lives across Nigeria.”
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