Nigerian Communications Commission Renews Airtel’s Spectrum Licenses
Airtel Africa Plc announced earlier today that the National Communications Commission (NCC) has approved its application for the renewal of its spectrum licenses. The renewal is in the 900MHz and 1800MHz bands and will serve Airtel’s Nigerian operation.
Business Elites Africa understands that Airtel Nigeria’s spectrum licenses are due to expire on November 30th, 2021. To this end, the company had applied early to have the licenses renewed, after which the NCC offered it an opportunity to renew the license in the 900MHz and 1800MHz bands.
Note that this renewal is for a ten-year period, with effect from December 1st 2021 through to November 30th, 2031. Airtel Nigeria paid the sum of N71.611 billion ($189 million) as license renewal fee.
While commenting on this development, Airtel Africa’s Chief Executive Officer, Raghunath Mandava, expressed his pleasure over the renewed license and thanked the Nigerian Government for their cooperation. He also noted that Nigeria is Airtel’s largest market and that the company is committed to exploring all the available opportunities.
“I am pleased to announce that our application in Nigeria to renew our spectrum licences in the 900MHz and 1800MHz bands for a ten-year period has been approved by the NCC. This is our largest market and we remain focused on bridging the digital divide and expanding our broadband capability in the country. On behalf of Airtel Nigeria and the Group, I would like to thank both the government of Nigeria and the NCC for their cooperation and support in this important process,” Mandava said in a public disclosure that was sent to the Nigerian Stock Exchange.
The leading telecommunication firm operates in 14 countries across the African continent, including Nigeria where it got listed on the Nigerian Stock Exchange on July 9th, 2019. The company’s stock opened today’s trading session on the Nigerian bourse with a share price of N920 which has since risen by 1.09% to N930.
The Continuous Wealth Decline of Patrice Motsepe: A Further Loss of $100 Million
Patrice Motsepe, South African billionaire, continues to face financial setbacks as his n…