Airtel Africa, a leading provider of
telecommunications and mobile money services, with
a presence in 14 countries across Africa, said the Nigerian
Communications Commission had accepted its application to renew the 900MHz and
1800MHz bands for its subsidiary Airtel Nigeria. The licences were due to
expire in November.
After the application the regulator offered Airtel the
chance to renew the licences until 30 November 2031, which the company
accepted. Airtel Nigeria has paid 71.61bn naira (£140m or $189m) to renew the
licences in Africa’s most populous country and biggest economy.
Raghunath Mandava, Airtel Africa’s chief executive, said:
“This is our largest market and we remain focused on bridging the digital
divide and expanding our broadband capability in the country. I would like to
thank both the government of Nigeria and the NCC for their cooperation and
support in this important process."
Shares of the company, which operates across 14 countries in
Africa, fell 5% to 76p at 09:09 GMT.
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