Read time: 3 minutes

MEA Orange Money performance vindicates telco's growth strategy

By , ITWeb’s Zambian correspondent.
Africa , 23 Feb 2023

Orange has audited the financial performance of all units and generated €6.9-billion in revenue in Q4 2022, representing a 6.4% increase in the telco’s 2022 financial year.

Orange Money MEA reported annual revenue of €461-million, returning to growth in the fourth quarter.

The company attributed the increase to greater demand for mobile data, fixed broadband and B2B connectivity. It said its customer base grew 6% to 143 million at the end of 2022, including 53 million 4G customers, up by 19%.

The company added that its mobile money customer base grew 16% to 29 million, while fixed broadband surged by 24% to 2.8 million customers.

Orange Group CEO Christel Heydemann said the results justify the company’s growth strategy.

Its plan is to grow sustainably in the MEA region, as well as Europe, by consolidating its position in cybersecurity and re-positon its B2B focus and activity.

Heydemann said, “Today, we have a solid base from which to put our new strategic plan into action, working together and with determination. We’re targeting long-term growth and continual transformation to allow us to move forward both with agility and confidence.”

Daily newsletter