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Sonatel Looks for Funding to expand in West Africa

Sonatel (42% owned by France’s Orange) is planning to raise $171 million on the regional market for the first time to take advantage of higher demand for digital services amid the COVID pandemic. The company will use the funding to expand its 4G and 4G+ networks and develop its energy, banking and Orange Money businesses. Sonatel operates in Senegal, Guinea, Guinea-Bissau, Mali and Sierra Leone, while a sister company Orange Ivory Coast covers 3 other countries in the sub-region. The main telco, Orange, wants to grow further in Africa and is considering acquisitions in Nigeria, South Africa and an expansion into Ethiopia.

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Alastair Tempest

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