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Airtel Africa PLC on Friday said its subsidiary Airtel Zambia Networks Ltd has bought 60 megahertz of additional spectrum in Zambia for $29 million.
The Africa-focused telecommunications firm said the additional spectrum is in the 800 MHz and 2,600 MHz band and was bought from the Zambia Information & Communications Technology Authority.
‘This additional spectrum will support our network expansion in the market 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,’ Airtel Africa said.
It added that Zambia is one of its largest markets by revenue.
‘This investment reflects our continued confidence in the opportunity inherent in the Zambian market, supporting the local communities and economies through furthering digital inclusion and connectivity,’ the FTSE 100-listed company said.
On Thursday, Airtel Africa announced its Tanzania subsidiary bought 140 megahertz of additional spectrum spread across the 2,600MHz and 3,500MHz bands from the Tanzania Communications Regulatory Authority for $60.1 million.
Shares in Airtel Africa were up 0.9% to 126.50 pence each in London on Friday morning.
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