6th Jun 2022 16:24
(Correcting error in quote to say Democratic Republic of Congo, not Dominican Republic of Congo.)
(Alliance News) - Airtel Africa PLC on Monday said it has bought 58 megahertz of additional spectrum in the Democratic Republic of Congo for USD42 million.
The Africa-focused telecommunications firm said the additional spectrum is spread across 900, 1800, 2100 and 2600 MHz bands.
The licence for paired spectrum in the 2100 band will come up for renewal in September 2032, whilst all the other licenses will continue until July 2036.
Airtel Africa said: "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."
It added that Congo is the largest country by area in its portfolio and its second largest market by population.
"This investment reflects our continued confidence in the tremendous opportunity inherent in the Democratic Republic of Congo, supporting the local communities and economies through furthering digital inclusion and connectivity," the FTSE 100-listed company said.
Shares in Airtel Africa were up 2.1% to 157.20 pence each in London late Monday.
By Sophie Rose; [email protected]
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