Airtel Africa has confirmed that it will invest $70 million
in additional spectrum, to boost its LTE coverage in Nigeria.
The company will purchase an additional 10MHz block of
spectrum in the 900MHz band from Intercellular Nigeria.
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“Data is a key pillar of our growth strategy, driven by
increasing 4G networks and supported by the increased affordability and
increasing penetration of smartphones,” said Raghunath Mandava, CEO of Airtel
Africa.
“With an overall smartphone penetration of more than 35% and
data consumption growing by 92% in the six months’ period ended 30 September
2019, Nigeria presents a significant growth opportunity in data. The
acquisition of this spectrum will enable us to further deliver on this growth
opportunity and continue to offer our Nigerian customers an enhanced user
experience.”
Airtel Africa is present in 14 countries across Africa, with
over 100 million subscribers spread across the continent.
Airtel Africa recently raised $750 million at its Initial
Public Offering in London, earlier this year, as the company looked to raise
funds to expand its mobile networks across the continent.