Airtel Africa Buys 4G and 5G Spectrum In Nigeria | ET NOW | Business News
Airtel Africa – one of the major subsidiaries of Bharti Airtel – has announced the purchase of 4G and 5G spectrum in Nigeria for a total value of $317 million. Nigeria is the largest market in Airtel Africa’s portfolio. Nigeria contributed 39.8% of total revenue and 44.9% of total EBITDA for Airtel Africa in FY22. As per the company, during FY22 revenue and EBITDA increased by 21% and 24%, respectively, with EBITDA margin stood at 55.2%.
According to Morgan Stanley, Airtel Africa’s capital expenditure could likely increase if the company starts the 5G network rollout over the coming quarters. For FY23, Airtel Africa has guided a capex of $700-750 million.
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