Orange exits Uganda

Orange Group today announced that it has signed an agreement with Africell Holding for the sale of its majority stake in Orange Uganda.

The transaction is subject to approval from the relevant authorities. It will enable the company in Uganda to continue its development.

This transaction marks a new step in the Orange Group’s asset portfolio optimisation strategy for which Africa and the Middle-East remain a strategic priority.

Orange Uganda, which was created in 2008, is the third telecom operator in Uganda and had 620,000 clients at the end of December 2013.

Africell holds a leading market share in Gambia and Sierra Leone and was able to achieve a 20 per cent market share in the Democratic Republic of Congo in less than two years of operations facing well established operators. The group currently has over nine million active subscribers and forecasted to reach 11 million by year end.