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Airtel Kenya Agrees to $30-Million Spectrum Settlement
Sourced from Comms MEA Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announced that its Kenya subsidiary, Airtel Kenya Networks Limited (‘Airtel Kenya’), has agreed to settlements with the Communications Authority of Kenya regarding its operating and spectrum licences. According to the announcement Airtel Kenya has received approval for the replacement of its temporary licence with a ten-year frequency licence for 2×10 MHz of spectrum in the 2100 MHz band. The agreement will see Airtel Kenya pay a total of $20-million in four instalments over the next three years in respect of settlements regarding the 2015 – 2025 operating and spectrum license. These payments will see the Kenyan telecom settle its du...
Oil prices slide in lockdown-driven rout
Oil prices dived Thursday on demand fears as more nations go into lockdown to staunch the spread of the coronavirus, while stock prices attempted a modest rebound. Both main oil contracts fell five percent for part of the day before clawing back some of their losses, extending this week’s meltdown to plumb four-month lows on virus-driven demand fears. “The new lockdowns have since yesterday caused a carnage in the oil market,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy. “Oil demand will lose ground as a result of the new lockdowns… Prices now naturally decline on this grim prospect,” he added. The drop in oil prices will increase the pain on oil companies. Exxon Mobil announced Thursday it was eliminating 1,900 US jobs as part of a cost-cutting drive necessitated in part ...
