Orange Middle East and Africa (OMEA) joins forces with the Multilateral Investment Guarantee Agency of the World Bank (MIGA) to ensure the guarantees of its subsidiary including mobile money.
OMEA and MIGA deepen their collaboration to secure guarantees aimed at supporting the expansion of its telecommunications infrastructure across the Middle East and Africa (MEA). This collaboration, facilitated through the International Development Association Private Sector Window (IDA-PSW) via the MIGA Guarantee Facility, encompasses all facets of Orange's operations in the MEA region. The goal is to catalyze significant advancements in telecommunications infrastructure, enhance connectivity and promote economic development.
Jérôme Hénique, CEO of Orange Middle East and Africa (OMEA) said: "This long-lasting partnership with MIGA will enable us to pursue the expansion of our activities safely and meet one of our key commitments to leverage our expertise and resources to drive sustainable development and empower communities in the Middle East and Africa."
Hiroshi Matano, MIGA Executive Vice President, said: "MIGA is excited to support OMEA to expand telecom services across the Middle East and Africa. Improved access to mobile connectivity is a prerequisite to economic prosperity. Digitalization of economies in Africa is a major priority for the World Bank Group. Our support allows Orange to continue building networks for provision of mobile banking and other data services. MIGA guarantees are a powerful instrument to attract foreign investment in low-income countries."
