Telecom operators in Nigeria and South Africa should be worried for their market shares. This is because Orange, 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 further inroads into the contient, Chief Executive Stephane Richard told Les Echos business newspaper.
Here Is What You Need To Know
- Richard declined to comment on a possible interest in South Africa’s MTN Group Ltd.
- The Middle East and Africa, where Orange has a presence in 18 countries, is the company’s fastest-growing market.
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- 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.
- Earlier this year, the French telecom operator inaugurated an Orange Middle East and Africa operational head office in Morocco.
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