MTN Ghana secures new 5G spectrum in 700 MHz and 3 GHz bands

Scancom PLC, trading as MTN Ghana, has secured additional spectrum in the 700 MHz and 3 GHz bands to support the expansion of its 5G and mobile broadband services in Ghana.

The company said the National Communications Authority (NCA) had formally notified it of the spectrum award following an invitation to apply for licences covering the 700 MHz, 2.3 GHz and 3 GHz mid-band frequencies.

The licences will be valid for 15 years, according to a statement issued by MTN Ghana.

Under the award, MTN Ghana has been allocated two lots of 20 MHz in the 700 MHz band at a licence fee of US$100.9 million.

The company has also been allocated one lot of 150 MHz in the 3 GHz band at a cost of US$101.1 million.

MTN Ghana said it was in the process of completing the formalities and payment obligations required for the acquisition of the licences.

It added that the payments had already been factored into its equity free cash flow outlook.

The telecommunications company said the newly acquired spectrum would be deployed alongside its existing spectrum holdings to increase network capacity and improve service quality and customer experience across the country.

According to MTN Ghana, the additional spectrum will also play a key role in expanding 5G mobile services and supporting its plans to increase home connectivity in Ghana.

The company said it would continue to update the market on significant developments as it progresses with the deployment of the newly awarded spectrum and its high-speed 5G services.

MTN Ghana expressed appreciation to its shareholders and other stakeholders for their continued support as it undertakes the investment.

The announcement was made in accordance with the applicable rules and regulations of the Ghana Stock Exchange and the Securities and Exchange Commission.