Airtel Africa buys 4/5G spectrum in Nigeria for $316m

Airtel Africa said its Nigerian subsidiary had bought 4G & 5G spectrum from the Nigerian Communications Commission for $316.7m.

The company said it had acquired 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz.

"This additional spectrum will support our investments in network expansion 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 and exceptional customer experience," the company said on Monday.

Reporting by Frank Prenesti for Sharecast.com