(Last Updated On: May 20, 2014)
The Orange Group will be soon selling its majority stake in its Ugandan business after the company made so many losses in the country. West African telecom company Africell Holding will be buying the Orange Uganda stake that is being sold. Orange Group owned 95% stake in Orange Uganda when it first set foot in the country in 2008.
Africell already has 9 million active subscribers from various countries such as Gambia, Sierra Leone and Democratic Republic of Congo. After acquiring majority stake in Orange Uganda, the company will gain an extra 620,000 subscribers. The chief operations officer, Elias Arwadi hopes to bring the operation into profitability.