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.
“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.”
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.
- 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.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer