Orange Kenya needs funding for data, cloud computing
On Tuesday, Orange Kenya announced plans to increase its funding by mid next year in order to boost its data and cloud computing services in the country. The move comes as voice competition continues to rock the country and drop prices.
The company said in a press release late on Tuesday that it would request additional funding from France Telecom, which owns a majority 51 percent share in the company, and the Kenyan government.
Orange’s CEO Mickael Ghossein said that the company was also looking into local and international markets and financial institutions, including the International Monetary Fund (IMF) for possible funding alternatives.
He did not give an exact figure, but did confirm that it would include a $40 million investment for its 2012 budget, the same as this year. That is half of what it invested in the previous two years.
Ghossein also said Orange Kenya will review its international calling rates by mid-November “to cushion against the weak shilling and increased calling rates in other countries,” which has raised termination rates. Ghossein said the rates in India and Uganda “had risen, meaning termination rates for international calls had also increased. The UK, India, Tanzania and Uganda are among other destinations for which Orange Kenya will revise its rates.”