MTN moves to acquire Mafab communications 5G spectrum assets

Mafab Communications, the Nigerian telecommunications operator backed by businessman Musbahu Muhammad Bashir, is in the process of transferring its critical spectrum assets to MTN Nigeria, a development that could mark the end of Mafab’s operational footprint in the country’s 5G market.

The proposed deal covers Mafab’s 2×20 MHz spectrum holding in the 2.1 GHz band alongside its 100 MHz block in the 3.5 GHz band.

Mafab originally secured its 3.5 GHz licence during Nigeria’s maiden 5G spectrum auction in December 2021, emerging as a surprise co-winner alongside MTN by outbidding Airtel Networks.

Both companies met the Nigerian Communications Commission’s February 2022 payment deadline of $273.6 million for their respective lots, though the official financial consideration for this new transfer to MTN remains undisclosed.

Controlled by Bashir, who also chairs the Abuja-based Althani Group, Mafab incorporated in July 2020 and quickly made headlines with its high-stakes auction win despite its prior lack of industry visibility.

Although the operator eventually launched 5G services following a rollout deadline extension prompted by licensing delays, the pending transfer represents a major departure from its initial standalone expansion goals.

For MTN Nigeria, integrating Mafab’s holdings would significantly expand its network capacity and spectrum depth across both the 2.1 GHz and 3.5 GHz bands.

The asset acquisition arrives as soaring domestic data demand drives the need for enhanced bandwidth. Any final handover and structural realization of the agreement will depend on regulatory clearances from the Nigerian Communications Commission.