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Airtel Africa has revealed that it acquired fourth-generation (4G) and fifth-generation (5G) spectrums from the Nigerian Communications Commission (NCC) at a cost of US$316.7 million as part of its strategic mission to bolster connectivity in Nigeria.
The telecom giant was the sole bidder in the auction that saw them acquire 100MHz in the 3,500MHz band and two blocks of 5MHz in the 2,600MHz band.
Paving the way to Digitalisation
In a statement, Airtel CEO Segun Ogunsanya, commented on their venture:
“Nigeria is a market with enormous potential for future growth in mobile services. Investment in new technologies and local infrastructure to enable 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.”
Airtel Africa aims to facilitate economic growth and improve lives by leveraging 5G’s ability to offer faster connection speeds, necessary for digitalisation for both public and private domains. As Mr. Ogunsanya elaborated:
“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 ultimately transform lives across Nigeria.”
Airtel Africa are keen to strengthen their foothold in the Nigerian market in order to support the country’s digital economy agenda and plans for digitalisation, from enterprise to public bodies. It believes that introducing 5G will help it reach the goals set out by Nigeria’s Presidential Committee in 2019 – to promote economic development through the National Broadband Plan – by bringing quick, reliable and efficient fixed wireless products across the nation.
At present, Airtel Africa cites Nigeria as its most prominent market where data traffic has grown fourfold in only three years due to their low-cost 4G services.
Implications for Cryptocurrency
The investment that Airtel Africa has made in 4G and 5G networks in Nigeria will have a significant impact on cryptocurrency access and usage. Faster connection speeds are necessary for digitalization, which means that the people of Nigeria will be able to use cryptocurrencies as a form of payment more easily.
Speed is vital for the success of any cryptocurrency network, as transactions need to be confirmed quickly. The introduction of high-speed infrastructure by Airtel Africa will allow more people to participate in cryptocurrency networks without issue, providing them with secure payment solutions and improved access to digital services. This will undoubtedly benefit those living within countries who lack the banking infrastructure found elsewhere.
Improved internet access will allow more to participate in crypto, provide secure payment solutions and greater access to digital services. It may help reduce poverty, drive economic development and provide secure, efficient ways to manage finances.
In addition, increased adoption of technological advancements such as 5G can reduce poverty levels within areas where traditional money transfers may be difficult or expensive due to restrictions such as limited branches and services available. By investing in 5G spectrum, Airtel Africa is not just helping to drive economic development, but providing users with more secure and efficient ways to manage their finances. This can have an especially powerful effect within rural communities who may experience higher financial exclusion rates than urban areas.
Airtel Africa
Airtel Africa Plc is a Pan-African telecommunications company leading the way for affordable and innovative mobile services with operations in 14 countries across Africa, primarily in East Africa and Central and West Africa. They provide an integrated suite of telecoms solutions including 2G, 3G and 4G mobile voice and data service options, plus mobile commerce through their ‘Airtel Money’ platform. As of March 2020, they had over 110 million customers using their products and services which are supported by their largest shareholder Bharti Airtel.
Through this latest strategic investment, Airtel Africa is helping revolutionise the African telecommunications market. Their commitment to supply fully modernised infrastructure to Nigeria will assist greatly with the nation’s digitalisation targets and will pave the way for increased access to all the benefits of high speed internet access in the country.
