France’s biggest telco, Orange, eyes Nigeria, South Africa as possible new markets

France’s largest telecom operator, Orange, plans to extend its presence in Africa and will give itself a few months to make a potential move, Reuters said on Sunday.

“It could make sense to be in economies such as Nigeria and South Africa. If one considers there are things to do, the time frame I am considering is rather a few months than a few years,” Chief Executive Officer Stephane Richard told Les Eschos business newspaper.

Richard, however, declined to comment on a possible interest in South Africa’s MTN Group Limited.

Orange, whose global revenue hit €42.238 billion in 2019, has footprint in 18 countries in the Middle East and Africa, which is the wireless operator’s fastest-growing market.

Read also: Orange buys into Africa Internet Group

The region earns the bulk of its revenues from payment transfers – a key component of the group’s diversification into financial services.

Orange disclosed earlier this year it was consolidating its Middle East and African operations into a single entity, opening the window for a possible listing of the operations that could raise fund to invest in overseas expansion.

Richard stated that Orange would be considering firming up synergies with health companies or institutions.

Orange is the world’s tenth biggest mobile network operator and the fourth largest in Europe.

 

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