Africell Holding today announced its agreement with the Orange Group to acquire its majority stake in Orange Uganda.
The transaction will enable Africell to expand its presence to 4 markets with potential of over 120 million inhabitants.
Africell is planning to add one more market before end 2015 to expand to cover West, Central, and East Africa.
Africell holds a dominant leading market share in Gambia and Sierra Leone and was able to achieve a 20 percent market share in the DRC in less than two years of operations. The group has more than 9 million active subscribers and forecasted to reach 11 million by year’s end.
“Uganda with a population of over 37 million and a penetration rate of 50 percent was well within the criteria we had set to further expand in Africa targeting high potential and high growth markets” says Ziad Dalloul, chairman and CEO of Africell.
