Telecom service provider Orange has sold its business in Uganda to Africell.
The transaction will add to Africell’s portfolio 700,000 subscribers, as well as a 2G, 3G and 4G networks in Uganda.
Africell has now reached 11 million active subscribers, a 700 percent increase over five years, and expects to end the year with over 12 million subscribers.
The company targets gross revenues of over $270 million in 2014, $350 million in 2015 and $500 million in 2016.
Ziad Dalloul, chairman & CEO of Africell, said: “Africell’s acquisition of Orange Uganda 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.”
Since its launch in 2001, Africell has established itself as the number one mobile network provider in Gambia and Sierra Leone, and is growing its newer operations in Democratic Republic of Congo (DRC) and Uganda.
All four operations offer voice and 3G data services with plans to deploy LTE services, which are already available in Kampala, Uganda.
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