Press Release
Dakar, 29th April 2019 –
Sonatel hereby announces that it has entered into an agreement for the acquisition of 91.6% of the share capital of XOOM Wireless, which holds an Internet Service Provider (ISP) license in the Gambia. This acquisition is carried out in partnership with TERANGA Capital, which will hold a minority stake in the Company.
Through this acquisition, Sonatel strengthens its leading position in the telecommunication sector in West Africa, thanks in particular to the external growth strategy implemented for several years. In addition to its historic market in Senegal, growth operations have allowed Sonatel to maintain strong and dynamic market shares in four countries: Mali, Guinea, Guinea Bissau and Sierra Leone.
The planned investments in the coming years in The Gambia will allow the people to benefit from the expertise and dynamism of the Sonatel and Orange Groups in terms of innovation and development of the digital ecosystem.
The agreements obtained are subject to approval by the Gambian authorities.
About Sonatel :
The Sonatel Group, a reference operator in West Africa, offers global telecommunications solutions in the areas of fixed telephony, mobile, Internet, television, mobile money and data service to individuals and businesses. Leader in the countries in which it operates, the Sonatel Group started its external growth in Mali in 2002, and then gradually established business in Guinea and Guinea Bissau in 2007 and most recently in Sierra Leone (2016).
Press contacts: e-mail :[email protected]
Cheikh Diallo. Tél. 33 839 13 88 (bureau)/ 77 529 82 79 (mobile), e-mail : [email protected]
About Teranga Capital
Teranga Capital is an impact investment company dedicated to the financing and support of small and medium-sized enterprises (SMEs) and start-ups with high growth potential in Senegal and in the Gambia. Its objective is to provide an innovative solution to meet the financing needs of these companies between 50 million and 300 million CFA. Teranga Capital provides equity financing and becomes a minority shareholder of SMEs over a time horizon of around 5 years, and ensures active and personalized support according to the specific needs of each investee.
www.terangacapital.com
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