Airtel Africa announced on Monday that its Kenyan subsidiary, Airtel Kenya Networks Limited, had signed an agreement with the Communications Authority of Kenya for its operating and spectrum services.
Airtel Africa said in a regulatory filing to the Nigerian Exchange Limited that it had received the regulator’s approval to replace its temporary licence with a 10-year frequency permit “for 210 of spectrum in the 2100 MHz band.”
“Airtel Kenya will pay a total of $20 million in four instalments over the next three years in respect of settlements regarding 2015-2025 operating and spectrum licence,” the document stated.
“Airtel Kenya has agreed to a ten-year licence for $10 million for the 210 MHz licence, 2022-2032.”
Both permits, totaling $30 million, will allow the telco to capitalize on more opportunities in the East African country, which is one of its most profitable markets. Between full year 2018 and full year 2021, Airtel Kenya’s revenue increased at a compound annual growth rate of 20.8 percent.
Last year, Airtel Africa Nigeria’s unit was defeated in the bidding round for 5G spectrum licenses, which went to rival and little-known Mafab Communications Limited.