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Orange eyes Nigeria, South Africa as possible new markets

Published 14/06/2020, 21:41
© Reuters.

PARIS, June 14 (Reuters) - Orange ORAN.PA , France's
largest telecom operator, believes it would benefit from having
a wider footprint in Africa and will give itself a few months to
make a possible move, Chief Executive Stephane Richard told Les
Echos business newspaper.
"It could make sense to be in economies such as Nigeria and
South Africa," Richard was quoted as saying. "If one considers
there are things to do, the time frame I am considering is
rather a few months than a few years."
Richard declined to comment on a possible interest in South
Africa's MTN Group Ltd MTNJ.J .
The Middle East and Africa, where Orange has a presence in
18 countries, is the company's fastest-growing market.
The region makes a large chunk of its revenues from payment
transfers - a key part of the group's diversification into
financial services.
Orange said earlier this year it was bringing its operations
in the Middle East and Africa into a single entity, paving the
way for a potential listing of the operations that could raise
cash to invest in overseas expansion. Richard said Orange would also be looking at bolstering
partnerships with health companies or institutions.

 

Latest comments

It's going to be a great move for them. Africa remains top of only economic gold-mines that remain untapped in the world. Vodacom (a sub of Vodafone) had that great opportunity during CDMA era when it bought into Visafone but the deal was not well executed. There are still more $$$$$$$$$ to make from telecom - both voice and data. A strategic take-over of nTel may not be a bad one.
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