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Telecoms

Airtel Africa pays $30mln to extends Kenya licences

Airtel Africa PLC said it has agreed to settle US$30mln in licensing and operating fees with the Kenyan government through its Kenyan subsidiary, Airtel Kenya Networks Limited.

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Airtel Africa PLC (LSE:AAF) said it will pay US$30mln to extend its licenses in Kenya, reflecting its continued confidence in the "tremendous opportunity" of the market.

By revenue, Airtel Kenya is the largest market, increasing revenues by 20.8% CAGR between the 2018 and 2021.

A 10-year frequency licence has been approved for the company as a replacement for its temporary licence.

Airtel Kenya will pay around US$20mln in four payments over the next three years in settlement of its 2015-2025 operating and spectrum licences, with US$10mln paid for a 10-year agreement for the 2x10 MHz license.