- Orange, the French telecommunications giant, has reported a 0.5% increase in fourth-quarter revenue, reaching €10.4 billion ($10.9 billion).
- This growth is primarily driven by the company's robust performance in Africa and the Middle East, where revenues surged by 10.5%.
Orange's success in Africa can be attributed to its targeted investments in key growth areas. The company has focused on expanding mobile data services, resulting in an 18.4% increase in this segment.
Fixed broadband services have also seen a 19.5% rise, while Orange Money, the company's mobile financial service, experienced a 20.4% growth.
In 2023, Orange Middle East and Africa generated €7 billion ($7.2 billion) in revenue, serving more than 149 million customers. Notably, over 90 million customers across 17 countries have adopted Orange Money, highlighting the service's widespread acceptance.
The company's commitment to the region is further demonstrated by its substantial investments in infrastructure. In 2023, Orange invested €1.2 billion in Africa and the Middle East to support the rollout of 3G and 4G mobile networks, as well as fixed infrastructure. This investment aims to meet the increasing demand for digital services in the region.
Orange's venture capital arm, Orange Ventures, is also playing a crucial role in fostering innovation in Africa. With €50 million ($51.9 million) under management and a dedicated team based in Cairo, Orange Ventures Africa invests in tech entrepreneurs, accelerating the growth and expansion of businesses across the continent.
Furthermore, Orange has partnered with Digital Africa to double its support and investment for startups in its incubator centres across Africa and the Middle East. This collaboration aims to accelerate the development of digital entrepreneurship in the region.
In summary, Orange's strategic focus on Africa, through substantial investments in infrastructure and support for digital innovation, has been instrumental in driving the company's revenue growth. The success of services like Orange Money underscores the effectiveness of this strategy and highlights the significant potential of the African telecommunications market.
