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Orange aims for growth in Africa

Orange aims for growth in AfricaJOHANNESBURG, (CAJ News) – ORANGE, the French-headquartered mobile network operator, is targeting further growth into Africa during the current year.

In 2015, the company, which has exceeded its financial targets for the year 2015, strengthened its presence in Africa, which it described as a strategic priority for the Group.

This saw increased participation in and consolidation of Médi Telecom in Morocco and the acquisitions currently underway in Burkina Faso, Liberia, Sierra Leone and the Democratic Republic of the Congo.

In a statement accompanying its financial results released Tuesday, the company said as for the Africa and Middle East region, this represented a growth area for it and one in which it continued to develop and invest through its new holding company, Orange Middle East & Africa.

“This can be seen through our increased participation in Médi Telecom in Morocco and our recent acquisition projects in Burkina Faso, Liberia, Sierra Leone and the Democratic Republic of the Congo,” Orange stated.

“Strengthened by our strategy and the commitment of our teams, we intend  to continue this good momentum, targeting further growth in restated EBITDA (Earnings before interest, taxes, depreciation, and amortization) in 2016 on a comparable basis.”

Meanwhile, the company released a commendable set of results for the 2015.

Restated EBITDA was €12,426 billion, ahead of targets.

Revenues were €40,236 billion in 2015, relatively stable in relation to the preceding year on a comparable basis (-0.1 percent), after declining 2,5 percent in 2014.

Business in Africa and the Middle East remained strong. Furthermore, the Enterprise segment confirmed the stabilisation observed during the preceding two quarters.

“Our good results for 2015 confirm the relevance of our new strategic plan, Essentiels2020, designed to differentiate us in terms of quality of customer experience. For the first time since 2009, and one year ahead of target, restated EBITDA for the year is growing,” Stéphane Richard,
Chairman and CEO of the Orange Group, commented.

CAJ News

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