Bayobab lands long-distance operator licence in Nigeria
The Nigerian regulatory authorities have granted Bayobab Group a national long-distance operator licence.
The company announced the news today, stating that its subsidiary in Nigeria is now authorised to enable long-distance traffic, which will help meet the growing need for data.
Bayobab claims it is now positioned to make important contributions to the country’s connectivity plans, in accordance with the Nigerian Communications Commission's ambitious Fibre Ambitions Policy.
Frédéric Schepens, CEO, Bayobab Group, said: “This achievement marks a transformative moment for us, as we look forward to contributing to the growth and development of Nigeria's digital economy.”
The Nigerian licence comes as Bayobab, an MTN Group subsidiary, expands its infrastructure services.
Bayobab deployed roughly 3,000 kilometres of fibre during the first half of the current fiscal year, bringing its total private fibre inventory to 108,000 kilometres.
It also signed a $320 million agreement with infrastructure investment firm Africa50 earlier this year, to create Project East2West, a terrestrial fibre optic cable network. By 2025, the project is expected to connect ten African countries to the cable network.
In the current reporting period, the fixed connectivity segment of Bayobab's business increased external revenue by 15.2% year-over-year, aided by new fixed connectivity infrastructure contracts worth $8.4 million.