After supporting Orange Madagascar’s growth during ten years, the consortium of minority investors led by Terra Mauricia and Kibo Fund divested in January 2021 its 16% stake in Orange Madagascar.
Kibo Fund initially invested in the company in April 2010. Throughout its investment period it saw Orange Madagascar become a dominant player in voice and data services and successfully implemented a financial service platform, Orange Money, though its subsidiary Orange Money Madagascar.
Enexus Finance and BLC Robert & Associates acted as the financial advisor and legal advisor respectively in this transaction for the Malagasy telecom market.
“Madagascar is among the fastest growing telecom markets in Africa and offers a lot of potential for operators. We are happy to participate in this transaction with one of the leading telecom player in Africa,” said Julien Lefilleur, Managing Partner of Enexus Finance.