Orange agrees to back Egyptian tech startups

28 July 2017

Mergers, Acquisitions and Financial Results

Global mobile operator Orange has agreed to support and fund Egyptian technology-focused startups to help them transform their ideas into sustainable businesses.

This comes after Orange welcomed Egyptian minister of communications and information technology Yasser Al-Kady to its facilities in Paris last week, during which he met with members of Orange’s executive committee such as deputy chief executive officer (CEO) Bruno Mettling.

Orange said as a result of the meetings it is contemplating leveraging the opportunities offered by new technology zones, including in Assyut, to install customer service centres.

At the same time, as part of the company’s interest in supporting emerging, innovative companies, it was agreed it will support and fund tech startups in the country to help them transform their ideas into reality.

Earlier this year Orange has announced the launch of an Africa-focused arm of its early-stage investment programme Orange Digital Ventures, committing EUR50 million (US$56 million) to the new initiative.

Al-Kady visited Orange’s new innovation campus in Chatillon, Orange Gardens, which was inaugurated in June 2016 by the French President François Hollande. The 72,000m² eco-friendly site brings together more than 3,000 employees across all areas of research and innovation.

“We are honoured to host his Excellency Engineer Yasser Al-Kady at the Orange Group’s headquarters in Paris. The Group’s presence in Egypt is of utmost importance to our future development in Africa and the Middle East, and we have great confidence in the potential for development within the Egyptian economy,” said Mettling.

“This visit also reflects the Orange Group’s willingness to work with the Egyptian Ministry of Communication and Information Technology in order to strengthen cooperation between our two countries in a context that encourages foreign investment.”

Source: Disrupt Africa