Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

Orange Cote d'Ivoire to list on BRVM stock exchange

Article Image
Orange's operation in Côte d'Ivoire will list a portion of shares on the West African BRVM stock exchange (Bourse Régionale des Valeurs Mobilières).

An Orange Group spokesperson confirmed that its subsidiary obtained authorization from the financial markets authority of the West African Monetary Union for an initial public offering (IPO) on the BRVM exchange.

The BRVM is located in Abidjan, Cote d'Ivoire, and serves the West African markets of Benin, Burkina Faso, Côte d'Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo.

Orange Côte d'Ivoire will issue 14,990,207 shares on the regional financial market as part of the partial sale of the Côte d'Ivoire government's stake in the operator.

The state is divesting a 9.95% stake in Orange Côte d'Ivoire for a total of 140.98 billion CFA francs (US$227 million) at a price of 9,500 CFA francs (US$15.3) per share for private investors; and 7,600 CFA francs (US$12.3) per share for employees of Orange Côte d'Ivoire.

The state currently holds a 14.95% stake in the telecom operator's local business and after selling this portion will still own a 5% shareholding.

"By listing its activities on the BRVM, Orange will further strengthen its long-standing commitment to the Côte d'Ivoire and will enable the company to return some of the value created to local investors," the French operator said of the IPO.

The Orange spokesperson said there was no date set yet for the listing.

Want to know more about telco financials, regulation and deals in Africa? Check out our dedicated Business of Tech content channel here on Connecting Africa.

Orange is Côte d'Ivoire's second-biggest mobile operator with about 35.5% market share, just behind MTN with 39% and ahead of Moov Africa, which had 25.5% market share in September 2022, according to statistics from market research company Omdia.

In September 2022, Orange Côte d'Ivoire opened a 5G lab as it prepares for 5G network rollout in 2023.

Orange last month launched its first 5G network in Africa, in Botswana.

Related posts:

*Top image source: Image by DCStudio on Freepik .

— Paula Gilbert, Editor, Connecting Africa

Innovation hub


Vodacom Tanzania unveils Digital Accelerator Program winners

Mobile operator Vodacom Tanzania has announced the season three winners of its Digital Accelerator Program.


AI's potential in African agriculture, energy and climate action – GSMA

A new GSMA report examines the huge potential for artificial intelligence to support Africa's socio-economic growth in areas including agriculture, energy and climate action.

More Innovation hub

Latest video

More videos

Guest Perspectives


Leadership Lessons: Networking towards career advancement

By Nollie Maoto

Nollie Maoto, First Rand Group's compliance chief data and analytics officer and Africa Tech Festival Leadership Council member, reflects on the importance of networking for career growth especially for African women in data analytics.


Leadership Lessons: The importance of mentorship for career growth

By Nollie Maoto

Nollie Maoto, First Rand Group's compliance chief data and analytics officer and Africa Tech Festival Leadership Council member, reflects on the importance of mentorship for career growth for African women in data analytics.

More Guest Perspectives

Sponsored video

More videos

Industry announcements

More Industry announcements

Upcoming events

Cyber Revolution Summit
August 9, 2024
Gaborone, Botswana
Africa Tech Festival 2024
November 12-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives


Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.


The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.


Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Partner perspectives

All Partner Perspectives

Follow us on X

Like us on Facebook

Newsletter Sign Up

Sign Up
Tag id test-002