(Two minutes read)
- Orange, the French telecom major, may go to the capital market to raise finances for its combined Middle East and Africa operations.
- In Middle East and Africa, Orange has a presence in 18 countries and its fast growing market with a sale of  about US$ 5.6 billion
Orange, the French telecom major, may go to the capital market to raise finances for its combined Middle East and Africa operations. The proposed IPO is still at consideration stage. Recently, the company decided to bring all its regional activities in a single company, OMEA, which will be a separate entity. Â Â The decision to go for the IPO would depend on many factors such as strategic opportunities and market orientation.
Orange has 266 million customers worldwide and employs 89,000 people in France, and 59,000 in other countries. In Middle East and Africa, Orange has a presence in 18 countries and enjoys a  fast-growing market with a sales of  about US$ 5.6 billion annually. A large part of its revenues come from financial services, particularly payment transfers. It has recently inaugurated its local headquarters at Casablanca, Morocco.
Orange is a major player in the mobile, telecom and internet segments in Africa. Its main competitors in the continent are Vodafone-controlled Vodacom), India’s Airtel Africa and South Africa’s MTN in the region. The company has been contemplating to go for the IPO for quite some time and has been postponing it for one reason or the other. The company is planning to expand its operations to Ethiopia in the coming months. There is a  market speculation that the proposed IPO may be to fund its expansion plans in Ethiopia
