Orange SA, France’s largest phone company, said it expects a 20 percent increase in its revenue from Africa and the Middle East by the end of 2018.
The forecast was made by Marc Rennard, head of Orange’s Africa and Middle East unit, at a press event in London Thursday.
Orange has networks from Belgium to Botswana and is present in 19 countries in Africa, making up 11 percent of total group revenues, it said. Orange plans to invest 15 billion euros in networks globally between 2015 and 2018, Chief Financial Officer Ramon Fernandez told the London event.
Chief Executive Officer Stephane Richard in March announced a five-year plan to rekindle earnings growth with cost cuts and faster networks after years of domestic price wars. Paris-based Orange has said it’s weighing options for its phone assets in Africa and the Middle East where there are more than 250 carriers.