France’s largest telecom operator, Orange, believes it would benefit from having a wider footprint in Africa (Nigeria and South Africa) and will give itself a few months to make a possible move.
Chief Executive Stephane Richard, who disclosed the news said, “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.”
Orange has a presence in 18 countries within the Middle East and Africa markets, where, 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.
The CEO said Orange would also be looking at bolstering partnerships with health companies or institutions.