Back in February, Orange, one of the world’s leading telco, signed an agreement with Millicom, an international telco and media company operating the Tigo brand in Africa, to acquire its subsidiary, Tigo DRC.
Today, Orange has announced it has completed the acquisition of Tigo in Democratic Republic of the Congo (Tigo DRC).
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% 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.
“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,” said Bruno Mettling, Deputy CEO of Orange in charge of Operations in Africa and the Middle East.
He added, “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.”
The 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.
Present in 28 countries, Orange Group has a total customer base of 263 million customers worldwide as at 31 December 2015, including 201 million mobile customers and 18 million fixed broadband customers.