Ivory Coast: Morocco Telecom paid a deposit of 50 billion CFA francs for the granting of 4G license Moov

Mergers, Acquisitions and Financial Results

The mobile operator Moov has obtained January 25, 2016 the global telecommunications license enabling it to deploy 4G in Ivory Coast, reports the AIP agency.

Its parent, Morocco Telecom group; including the recovery of assets of the former subsidiary Etisalat was authorized by the Council of Ministers on January 7, 2016; paid for it a down payment of 50 billion CFA francs. The global license whose price was set at 100 billion CFA francs has a 15 year duration.

Received in audience by Alassane Ouattara, the Ivorian Head of State, Abdeslam Ahizoune (photo), the CEO of Morocco Telecom, after the meeting, said he “reiterated to the Head of State’s commitment its Group, as an investor in the telecommunications  sector. ” Third operator in the mobile telephony sector in Côte d’Ivoire, in terms of subscribers, Moov-CI has a market share estimated at almost 17%, behind Orange and MTN respectively hold nearly 38% and 37% of market share. Accustomed as a leader in its old and new telecom markets in Africa (Gabon Telecom, Mauritel in Mauritania, Togo Moov Moov Niger, etc., Editor’s note), Morocco Telecom plans to invest accordingly in the country to raise its market share.

With 4G, which adds to its 3G, Morocco Telecom plans to densify the access offer mobile broadband across the country. The operator wants to enable the Ivorian people to participate fully in economic and social transformation of the Ivory Coast by the information and communications technology, advocated by the government.

Source: EcoFin