French telecom giant Orange considers foray into Nigeria and South Africa
The largest telecom operator in France, Orange is considering a move into new markets in Africa, as it targets Nigeria and South Africa. Orange’s present portfolio in the Middle East and Africa, a total of 18 countries, is the company’s fastest-growing market.
According to reports, Orange 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 however declined to comment on a possible interest in South Africa’s MTN Group Ltd.
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. Though Orange had not made any play for South Africa’s telecom market, it had previously made investments in eCommerce, WiFi access and business services. in 2016, the telecom giant notably invested €75 million (₦32.7 billion or ZAR 1.45 billion) in African Internet Group (Jumia).
Also, this is not the first time Orange has reportedly shown interest in Nigeria.In 2017, when Etisalat Nigeria (Now 9mobile) fell into financial crisis, Orange was among the supposed investors looking to swoop into the Nigerian market by purchasing a 65% stake in Etisalat Nigeria.
