Orange has signed an agreement with Africell for the sale of its stake in Orange Uganda.
Orange in March mandated Lazard to find a buyer for its mobile telecoms business in Uganda, hot on the heels of the sale of Warid Telecom’s local unit to Bharti Airtel.
Orange is thought to be planning an exit from several markets in Africa where it does not already hold a number one or two spot. Aside from Uganda, which is thought to be the only geography where an official process is underway, this could also include Orange’s mobile businesses in Kenya, Democratic Republic of Congo and Niger, among others.
Uganda’s mobile market is dominated by MTN and Bharti Airtel. The latter acquired the third largest operator Warid Telecom for around US$100m from the Abu Dhabi Group in May 2013. MTN has around 8.5 million subscribers in Uganda, while post-merger, Airtel has over 7.5 million. The next largest is Uganda Telecom’s UT Mobile unit, with Orange Uganda among the country's smaller operators
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Orange sells it stake in Uganda to Africell