By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)- One of the world’s leading telecommunications operators, Orange said on Thursday it has completed the 100 percent acquisition of the mobile operator Tigo in the Democratic Republic of the Congo (DRC).
This is coming less than three (3) months after signing an agreement with Millicom, the company said in a statement.
The mobile market in the DRC is undergoing significant growth and is currently the largest mobile market in Central and West Africa, after Nigeria. With a population of more than 80 million people and a relatively low mobile penetration rate of 50 percent of the population, the country offers considerable growth potential for Orange. “The consolidation of Orange’s and Tigo’s operations in the DRC will enable Orange to strengthen its presence in the country,” the leading telecoms firm added.
Commenting on this agreement, Bruno Mettling, Deputy Chief Executive Officer of Orange in charge of Operations in Africa and the Middle East, said: “We are extremely happy to announce the completion of the acquisition of Tigo by Orange DRC in a market marked by very strong growth potential. Through this strategic investment, Orange confirms its ambition to reinforce its presence in the Democratic Republic of the Congo and accelerate the conditions in which it can develop its services through this consolidation.”
This acquisition illustrates Orange’s development strategy in Africa where almost one in ten people are already customers. In this zone, the Group aims to reinforce its positions as a leader in the countries in which it is present.
On the April 7, Orange announced it has completed the acquisition of 100 percent of Cellcom, Liberia’s leading mobile operator, through its subsidiary Orange Côte d’Ivoire.
“Less than three (3) months after signing the agreement with Cellcom Telecommunications Limited for the acquisition of its Liberian subsidiary, Orange has obtained all the official approbations necessary to complete the transaction. Cellcom Liberia has 1.4 million customers,” Orange said..
According to the company, with this acquisition, Liberia will now become the 20th country in Africa and the Middle East to join the Orange group. With a population of 4.3 million people and relatively low mobile penetration rate (66 percent of the population), the country has a high-growth potential for Orange.
