June 21, 2019 / 11:38 AM / 2 months ago

Telecoms group Orange sees Africa/Middle East region growing around 5% in 2019

LONDON, June 21 (Reuters) - Orange, France’s number one telecoms operator, sees its sales and profits in the African and Middle Eastern regions growing by around 5 percent this year, Chief Financial Officer Ramon Fernandez said on Friday.

“The current pace is around 5% and this is a pace we can keep on the long run, with a profitability performance at the same level, or even above,” Fernandez told Reuters.

Africa and the Middle East is Orange’s fastest-growing region. It generated 5.2 billion euros ($5.9 billion) and 1.7 billion euros in revenues and core operating profits respectively last year.

The group, which is also considering entering Ethiopia’s telecoms sector, sees the process of opening up that country’s telecoms industry as materializing in 2020, added Fernandez.

$1 = 0.8844 euros Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta

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