By Juliet Umeh
France-based Telecom Operator, Orange, has announced plans to expand business operation to Nigeria.
Chief Executive Office of the company, Stephane Richard, who revealed this recently, said the company would benefit from having a wider footprint in Africa particularly, Nigeria.
According to him, the company’s fastest-growing market is in 18 countries in the Middle East and Africa where it is currently operating. The region makes a large
chunk of its revenues from payment transfers – a key part of the group’s diversification into financial services.
Richard said: “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.”
He however, declined to comment on a possible interest in South Africa’s MTN Group Ltd.
Meanwhile, 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 explained that Orange would also be looking at bolstering partnerships with health companies or institutions.