Orange to sell its Uganda stake to Africell

After a lot of speculations, Orange has released a statement saying it has s signed an agreement with Africell Holding for the sale of its majority stake in Orange Uganda.

The transaction is subject to approval from the relevant authorities.

It will enable the company in Uganda to continue its development.

This transaction marks a new step in the Orange Group’s asset portfolio optimisation strategy for which Africa and the Middle-East remain a strategic priority.

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Orange Uganda, which was created in 2008, is the third telecoms operator in Uganda and had 620,000 clients at the end of December 2013.

We will keep you updated on new developments.

Source: Orange