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China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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MTN Nigeria and Mafab Communications have been awarded Nigeria's first 5G high-speed spectrum licences at an auction held by the Nigerian Communications Commission. The winners are expected to pay the bid price "less the intention-to-bid deposit, by February 24, according to the country's telecoms regulator.
Minister of Communications Isa Pantami has said that Nigeria aims to deploy 5G over major urban areas of the country and become Africa's biggest network for the spectrum by 2025. "This technology will go a long way in supporting our security institutions, who will leverage on it and ensure that we are all secure," he said.
Nigeria is MTN's biggest market, and the company has previously encountered numerous regulatory challenges in the West African country, including a fine in 2015 by the NCC for unregistered SIM card users.
Two weeks after announcing its public offer to Nigerians, with over 500 million shares to be sold to retail investors for N169 each, MTN Nigeria Communications Plc has won the first 5G license in Nigeria.
The company won one of the two licenses on offer by the Nigerian Communications Commission (NCC) at an auction on Monday, December 13, 2021, enabling it to supply faster internet to customers and businesses. Both MTN Nigeria and Mafab beat Airtel to the licenses by reaching the 11th auction round where the bid price was set at $275.9 million for each of the licenses, above the $197.4 million reserve price.
The acquisition of the license reinforces MTN Nigeria’s commitment to delivering superior services to its customers across the country as well as its growth prospects in the coming years, making it an even easier choice for investors to participate in its retail offer.
