After 10 years supporting Orange’s growth in the Malagasy market, a consortium of minority investors led by Terra Mauricia and Kibo Fund divested their 16% stake in Orange Madagascar in January 2021.

The earliest operator in the Malagasy telecom market, Orange has become a dominant player in voice and data services for both individuals and businesses, and a leading financial service provider with its subsidiary Orange Money Madagascar. With an estimated 9% CAGR in the coming years, M...