Airtel Africa Plc has today disclosed that its Zambia subsidiary, Airtel Networks Zambia Plc, has purchased 60 Megahertz of additional spectrum from Zambia Information and Communications Technology Authority, for the value of $60.1 million.
This is according to the information contained in a report signed by the company’s secretary, Simon O’Hara, and filed with the Nigerian Exchange Group (NGX).
According to the disclosure, the spectrum spread across the 800 MHz and 2600 MHz bands.
The company asserted that this acquisition will help provide the significant capacity it needs to accommodate its continued strong data growth in the country.
The telecommunication giant stated that the additional spectrum will support the expansion of its network in the Zambian market. This will particularly prop up the company’s mobile data and fixed wireless home broadband capability. Additionally, the spectrum will be instrumental in enhancing the 5G network Airtel plan to roll out.
Acknowledging that the Zambian market is one of its largest markets by revenue, Airtel stated that the investment mirrors its continued confidence in the opportunity inherent in the Zambian market, supporting the local communities and economies through furthering digital inclusion and connectivity.
About Airtel Africa Plc
Airtel Africa Plc is a foremost provider of telecommunications and mobile money services in 14 countries across Africa.
The leading telecommunication giant ranks among the top three mobile service providers in terms of subscribers with a customer base of more than 50 million as of December 2019. The company’s product offerings include 2G, 3G and 4G wireless services, mobile commerce, Home Broadband, and enterprise services.
Its full-year audited financial statement for the year ended 31st March 2o22 revealed a 21.3 percent growth in revenue from $3.89 billion in 2021 to $4.71 billion.
