BUSINESS

Airtel Africa Pays $30m To Replace Temporary Licence In Kenya

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa has announced that its Kenya subsidiary, Airtel Kenya Networks Limited has agreed settlements with the Communications Authority of Kenya regarding its operating and spectrum licences, and received approval for the replacement of its temporary licence with a ten-year frequency licence for 2×10 MHz of spectrum in the 2100 MHz band.

Airtel in anotice at the Nigerian Exchange said in respect of settlements regarding 2015-2025 operating and spectrum licence, Airtel Kenya will pay a total of c.$20m in four instalments over the next three years.

“In respect of the 2×10 MHz licence, 2022-2032, Airtel Kenya has agreed to a ten-year licence for $10 million,” the notice said.

“Airtel Kenya is one of our largest markets by revenue, and from FY’18 to FY’21 grew revenues by 20.8% CAGR.

“This $30m investment reflects our continued confidence in the tremendous opportunity inherent in the Kenya market.”

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