Orange Madagascar minority investors sell 16% stake

5 Feb 2021

After ten years supporting Orange’s growth in the Malagasy market, a consortium of investors led by diversified holding company Terra Mauricia and Mauritian private equity firm Kibo Capital sold its 16% stake in Orange Madagascar in January, divesting an investment made in April 2010. Although financial details of the sale were not disclosed, unconfirmed media sources claim Orange Group acquired the stake, which would be in line with its Engage 2025 strategic plan to accelerate expansion in growth areas. ‘Madagascar is among the fastest growing telecom markets in Africa and offers a lot of potential for operators. We are happy to participate in this transaction with one of the leading telecom players in Africa,’ said Julien Lefilleur, Managing Partner of Enexus Finance, which acted as financial advisor for the transaction.

Madagascar, Orange Group, Orange Madagascar