The second largest mobile network operator in Egypt, Mobinil, has officially rebranded as Orange. Orange are one of the largest telecommunications companies in the world. The rebrand was announced this week at a press conference in Cairo.
Orange, which was formerly known as France Telecom, hopes to invest the equivalent of $319million dollars this year to help upgrade networks. The money will also be used to deliver better services and bring more benefits to the 33 million customers in the country, according to the CEO Stephane Richard. In order to fund the planned investments, Orange is planning a capital increase in a few months time to offer around 20% of Orange Egypt to shareholders in an initial public offering.
The rebranding announcement comes a year after Orange completed its buyout of Mobinil. Mobinil was founded back in 1998 and the buyout deal was alleged to be worth 210 million Euros. In particular, Orange plans to invest heavily in mobile broadband and bid for a 4G licence.
Approximately 86 per cent of internet users in Egypt subscribe to broadband, according to data from the Ministry of Communications.
Orange Egypt is the second largest mobile operator in Egypt after Vodafone Egypt, with a respectable 33 per cent share of the market. In 2015, there was a profit of EGP 10.4 million in comparison to a loss the previous year of 399.7 million.
The Orange Group has a worldwide customer base of 263 million and has registered over 40 billion Euros in sales revenue in 2015.
The focus of Orange Egypt on customer experience will see it launch the first ‘Smart Store’ in Cairo. The store will have different areas such as ‘tech’ ‘fun’ ‘care’ and ‘tariff’ which will showcase the services which Orange provides in these areas. As a result of the rebrand, 250 retail stores will be given a makeover.
Orange currently has operations in 27 countries across the world, including in 19 countries across the Middle East and Africa.
For more information about Orange, contact Orange customer services.