Scancom PLC, trading as MTN Ghana, has announced that the National Communications Authority (NCA) has notified the company of the award of spectrum in the 700 MHz and 3 GHz bands.
The award follows the authority's invitation to apply for spectrum licences in the 700 MHz, 2.3 GHz and 3 GHz mid-band frequencies for the provision of 5G and mobile broadband services.
According to a statement issued by the company, the spectrum licences will have a duration of fifteen years.
Under the notice of 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, and one lot of 150 MHz in the 3 GHz band at a licence fee of US$101.1 million.
The company said it is currently finalising the required formalities and payment obligations associated with the licence acquisition, adding that the licence payments have been incorporated into its equity free cash flow outlook.
Following the issuance of the spectrum licences, the company will deploy the 5G spectrum in addition to its existing spectrum stock to strengthen network capacity, enhance service quality and improve customer experience across Ghana. The company said the new spectrum would be critical in assisting it to drive growth in 5G mobility as well as in fulfilling its aspirations for home connectivity in Ghana.
MTN Ghana said it will keep the market informed of material developments as it advances the rollout of the newly awarded spectrum and high-speed 5G services aimed at enhancing customer experience across the country.
The company expressed appreciation for the continued support of its shareholders and other stakeholders as it undertakes the strategic investment.
The announcement was issued in accordance with the rules and regulations of the Ghana Stock Exchange and the Securities and Exchange Commission.