Africell completes Orange Uganda acquisition
Africell, one of the fastest growing mobile telecommunications operators in Africa, has announced that it has completed the acquisition of Orange Uganda.
The transaction will add to Africell’s portfolio 700,000 subscribers, as well as a 2G- 3G - 4G network.
Africell has now reached 11 million active subscribers, a 700% increase over five years, and expects to end the year with over 12 million subscribers.
Ziad Dalloul, Chairman & CEO of Africell, said: “Africell’s acquisition of Orange Uganda presents a great opportunity for us to replicate the success we have achieved in other territories. This is an important strategic step for the company; this acquisition will add substantial growth to our portfolio which already includes the fastest growing network in DRC and another two operations with an uncontestable first rank in market share; in Gambia and Sierra Leone.”
The company anticipates gross revenues of over $270 million in 2014 to reach $350 million and $500 million respectively in 2015 and 2016.