Tech

Airtel Nigeria seals $316.7 million deal to acquire 4G, 5G spectrum

Published

2 years ago

January 10, 2023

Airtel Nigeria, a subsidiary of Airtel Africa, has sealed a $316.7 million deal to acquire the fourth-generation (4G) and fifth-generation (5G) spectrums from the Nigerian Communications Commission (NCC).

The deal, according to Airtel Africa’s secretary, Simon O‘Hara, was sealed on Monday following a corporate filing on the Nigerian Exchange Limited (NGX) by the telecoms giant.

O’Hara, in a statement, said Airtel Nigeria purchased 100 MHz of spectrum in the 3500MHz band and 2x5MHz of 2600MHz from the NCC for an the accumulative sum of $316.7 million, which is:payable in local currency”.

“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,” O’Hara said.

The telecoms company said that though the penetration of data customers in Nigeria remains low, providing significant opportunities for future growth has been encouraging and the acquisition of the 5G spectrum is one its growth strategy.

“The acquisition of 5G spectrum will underpin our growth strategy by enabling the launch of higher speed connectivity to enhance customer service and accelerate digitalisation for consumers, enterprises and the public sector.

“The key benefits of 5G will include higher speeds, lower latency, significant network capacity as well as an improved user experience.”

Also speaking on the acquisition, Chief Executive Officer of Airtel Africa, Segun Ogunsanya, said Nigeria is a market with enormous potential for future growth in mobile services.

“This growth is a strategic priority for the group and will ensure we are able to provide reliable and affordable services to local communities across the country.

“5G is critical to these ambitions, and we look forward to launching new services to drive further digitalisation across the country, facilitate economic progress and transform lives across Nigeria,” Ogunsanya said.

Related Topics:4G 5G Airtel Nigeria Featured Telecoms

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Tech

20 African tech-preneurs embark on Korean innovation tour

Published

2 hours ago

December 22, 2024

Isaac Dachen

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures and enterprise support organisations to embark on a two-week study tour of the Republic of Korea, with the aim of seeking investment and insights from the country’s innovative tech ecosystem.

The selected entrepreneurs are from 133 ventures that participated in last month’s Africa Tech Startup Forum.

The forum which will hold under the auspices of the lab’s “Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support” project, had selected entrepreneurs who pitched the best business models during the week-long virtual market access and acceleration programme preparing, training, and connecting technology ventures with opportunities.

The 20 young tech-preneurs were selected from eight African countries including Nigeria, Egypt, Ghana, Kenya, Morocco, Rwanda, South Africa, and Uganda, with the delegates spanning various sectors in the technology space.

While in Korea, the African delegates will pay visits to prestigious institutions such as Global Startup Centre, LG Science Park, the Korea Software Technology Association, and the Global Digital Innovation Network.

Speaking on behalf of the delegates, founder of Kenya-based health technology venture Zuri Health, Uche Ezadinachi said:

“I am excited to go to Korea because the country has made serious technological developments. The country is a technology-driven society, and this tour is an opportunity for me to see how we can bring such technology to Africa.

“We will share experiences with our Korean counterparts; they will learn from us as much as we learn from them,” he added.

Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

3 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.