Orange Sees Revenue Boost as African Expansion Pays Off

Orange, the French telecom giant, has recorded a 0.5% increase in fourth-quarter revenue, reaching €10.4 billion ($10.9 billion). The company’s strong performance in Africa and the Middle East, where revenues jumped by 10.5%, played a crucial role in this growth.

Orange’s success in Africa stems from its continued investment in high-growth areas, particularly mobile data services, which saw an 18.4% rise. The company’s fixed broadband services also expanded significantly, increasing by 19.5%, while its mobile financial platform, Orange Money, grew by an impressive 20.4%.

In 2023, Orange Middle East and Africa generated €7 billion ($7.2 billion) in revenue, serving a vast customer base of over 149 million people. The widespread adoption of Orange Money, with more than 90 million users across 17 countries, highlights the growing demand for digital financial solutions in the region.

Orange’s commitment to Africa and the Middle East is evident in its substantial infrastructure investments. Last year, the company allocated €1.2 billion to the region to support the expansion of 3G and 4G mobile networks, as well as fixed broadband services. These efforts aim to address the rising demand for digital connectivity and services.

Beyond infrastructure, Orange is also fostering innovation through its venture capital arm, Orange Ventures. With €50 million ($51.9 million) under management and a dedicated team in Cairo, the fund supports tech startups, helping them scale and expand across Africa.

Additionally, Orange has strengthened its partnership with Digital Africa, doubling its investments in startup incubators across the region. This initiative is designed to accelerate the growth of digital entrepreneurship, further cementing Orange’s role as a key player in Africa’s telecom and tech ecosystem.

Orange’s strategic focus on Africa and the Middle East has proven to be a major revenue driver. With continued investment in infrastructure and innovation, the company is well-positioned to capitalize on the growing demand for telecom and digital financial services in the region.