Sonatel Group, a leading telecommunications company in Senegal, Mali, Guinea, Guinea-Bissau, and Sierra Leone, has reported a consolidated net profit of US$548.8 million for FY 2023. This represents an increase of 19% recorded in 2022. The company’s consolidated revenue rose by 11.4%.
The notable financial performance is attributed to substantial investments aimed at meeting the growing demands of customers in a challenging environment characterized by intense competitive pressures and socioeconomic challenges. The company’s investment expenditures for the year totalled US$419 million.
Sonatel also cited the expansion of its mobile operations, Orange Money services, and high-speed broadband across all its markets for both retail and business sectors. In 2023, the company experienced a 6% increase in its fixed-line, mobile, and internet subscriber base, totalling 41.1 million customers. Furthermore, the number of Orange Money subscribers surged by 19.8%, reaching 31.6 million, with 11.7 million active users.
2024 Sonatel plans to continue its multi-service operator strategy by focusing on growth drivers such as high-speed fixed broadband (fibre optics), mobile broadband (5G, 4G), and the enterprise market.
CEO Sékou Dramé expressed the company’s intention to “continue strengthening our position in the Mobile Money market by leveraging AI and digital technologies, our super app Max it, and developing new products for an enhanced customer experience.”
