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Airtel Africa PLC on Monday said its subsidiary Airtel Kenya Networks Ltd has bought 60 megahertz of additional spectrum in Kenya for $40 million.
The Africa-focused telecommunications firm said the additional spectrum is in the 2600 MHz band and was bought from the Communications Authority of Kenya.
The license for the spectrum is valid from July for a period of 15 years.
Airtel Africa said: ‘This additional spectrum will support our 4G network capacity expansion in the market for both mobile data and fixed wireless home broadband capability, and will allow for future 5G rollout, providing significant capacity to accommodate our continued strong data growth in the country.’
It added that Airtel Kenya is one of its largest markets by revenue.
‘This investment reflects our continued confidence in the opportunity inherent in the Kenya market, supporting the local communities and economies through furthering digital inclusion and connectivity,’ the FTSE 100-listed company said.
Shares in Airtel Africa were up 0.7% to 165.83 pence each in London on Monday morning.
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