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#HumanInside Annual Report 2018 Human Inside 4 Foreword «At the crossroads of my path,» Living in a world in a constant state of flux animated by ever more omniscient and complex technologies, humans must adapt if they do not want to find themselves on the sidelines of the Digital Revolution. While we rely more and more on «artificial intelligence» on a daily basis to innovate, to work, to undertake or to have fun, we should not forget what constitutes our specificity, the intelligence of the heart. It is what drives us to desire a better future, to remain optimistic and develop our empathy. In a word, it makes us human. It is to the Human that the Annual Report is dedicated this year, and more particularly to these women and men who randomly cross our paths on a daily basis. They who have little, but for whom the desire to succeed is stronger than everything else. At the heart of everyday life, this entrepreneurial energy is everywhere and positivism is a permanent reality. Don’t we say: «It’ll be fine!» Sonatel draws from this optimism, infusing it into all its actions and providing daily solutions to all populations. Because we believe that behind the emergence of digital technologies, the human is at the center of everything. #HumanInside. 5 Sonatel Annual Report 2018 CONTENTS Letter from the President 9 Message from the General Manager 10 1. Good governance, guarantee of transparency 13 2. Human ressources 27 3. Sonatel’s civic engagement in Senegal and its subsidiaries 35 3.1 Sonatel, an Operator committed to economic and social development in all its countries of presence 36 3.2 Patronage 51 4. Our activities 59 4.1 In Senegal… 60 4.1.1 Mobile, Fixed and Internet 60 4.1.2 Orange Money 62 4.1.3 Business services 63 4.1.4 Content: development and innovation 65 4.1.5 Transformation of the sales department 66 4.1.6 Ambition of the Corporate Plan: to make customer experience the factor that differentiates the company from the competition and drives customer preference for Orange 67 4.1.7 To deliver to our customers an incomparable experience that makes them prefer Orange 68 4.2 … and in the subsidiaries 69 4.2.1 Orange Mali 69 4.2.2 Orange Guinea 71 4.2.3 Orange Bissau 74 4.2.4 Start of activities in Sierra Leone 76 5. Information systems and networks 81 6. Sonatel abroad 87 7. Key figures and Sonatel on the stock market 95 8. Financial report 115 9. Financial statements 147 10. Annexes 231 - Auditors General Report on the consolidated financial statements of the Sonatel Group 232 - Auditors General and Special Report on the accounts of SONATEL SA 241 - Agenda of the Ordinary General Assembly 270 7 Alioune NDIAYE Chairman of the Board of Directors 8 Sonatel Annual Report 2018 THE CHAIRMAN’S LETTER 2018 was characterized by the confirmation of The Sonatel Group has confirmed its position strong operational and financial performance in as a major player in wealth creation in all its our countries of presence. countries of presence. It achieved this by pursuing its unstinting commitment to its This dynamic was made possible by the contri- stakeholders in its actions in the field of corporate bution of the Group’s subsidiaries in the Sub-Re- social responsibility, which further increases the gion despite a highly competitive, regulatory and Group’s socio-economic footprint. tax environment. Conscious of its driving role in the digital ecosystem, Thanks to its investments, the Sonatel Group the Group intends to continue its efforts in this has maintained and consolidated its profitability adaptation strategy by implementing, as soon as trajectory and its commercial positions. 194.3 possible, all the structuring developments in the billion XOF was invested during the year, telecommunications sector. representing a growth of 5.7% compared to 2017, thus enabling us to have a total subscriber The 2022 Corporate Plan aims to make Sonatel base of 29.7 million customers at the end of 2018. a resolutely customer-oriented Group, a special partner in the digital transformation of our These investments have significantly helped im- companies in 2022, by supporting the States prove customer experience, strengthen opera- and the society for the digital emergence of the tional excellence, while boosting the continued territories and by reinforcing its civic commitment efforts to enhance the quality of technical service through its corporate social responsibility policy. and customer loyalty policy. Confident in the continued strength and sound- The consolidated turnover of the Group crossed ness of Sonatel Group’s financial structure, the a symbolic line when it reached 1022 billion XOF Board of Directors proposes to the General Mee- in 2018. The net income is 202 billion XOF, stable ting of 17 April 2019 the payment of a net divi- compared to last year. The weight of mobile dend of 1,500 XOF per share. data, mobile financial services and value-added services continues to grow and represents just All members of the Board of Directors and I over 25% of our turnover, showing that Sonatel extend our congratulations to all the employees is able to manage the profound transformation of the Sonatel Group for these good results and of its business models. In the wake of revenue our encouragement for the future. growth, profitability trajectories improved, reflected by the positive evolution of the EBITDA I remain convinced to this day that the mobilization growth to 462 billion XOF, ie +2.2% compared and commitment of everyone at Sonatel and to 2017. its subsidiaries in the service of our customers will enable the Group to stay the course of our It is important to note that the maintenance of endeavour toward an increasingly successful these strong commercial positions took place future. despite a competitive environment that is expan- ding in Senegal (launch of three Internet Service The Sonatel Group can count on the support of Providers) and in Mali (launch of a third operator the Board of Directors to remain a key player and acquisition of a 4G license by the 2nd) and in the development of the digital economy and a regulatory and tax environment that is toughe- digital transformation. ning, with new measures such as the unbundling of the local loop in Senegal, and the designation of Sonatel as a powerful operator in Senegal, or the increase in taxes, especially on turnover or volume, which compromise consumption. 9 THE MESSAGE OF THE MANAGING Sékou DRAMÉ Managing Director DIRECTOR The Sonatel Group consolidates its leadership and maintains strong operational and financial performance in its five countries of presence. Continued investment in maintaining the competitive edge in connectivity has helped maintain a consistent margin through revenue growth, improved profitability of mobile data, mobile financial services and control of direct costs, despite the continued decline in incomes from inbound international traffic. We continue our transformation to become a multiservice operator serving everyone. We were able to maintain our leadership in our core markets by maintaining our recruitment drive and strong market positions in value and volume. We are proud to have driven the Group’s consolidated turnover to the symbolic level of 1022 billion XOF in fiscal year 2018, representing a growth of 5%. I would like to congratulate the men and women of the Sonatel Group for their commitment and professionalism, which allowed us to achieve these excellent operational results. 10 Sonatel Annual Report 2018 I also congratulate all our partners and suppliers As in the past year, with the support of our who help us on a daily basis to deliver the best shareholders, we intend to continue our investment service to our customers. efforts to consolidate our competitive edge in connectivity and our commercial policy. Our goal The Sonatel Group stands for responsibility. Our is to continuously offer a unique and incomparable corporate social responsibility prompts us, in all experience to better support our customer loyalty our countries of presence, to take an active part in drive as well as our value positioning by delivering ensuring the sustainable economic development a recognized and differentiated quality of technical and well-being of the population because we are and commercial service. aware of our leading role in this ecosystem. It is therefore with pleasure that I invite you Wherever we operate, we support local startups to discover all the financial results and our during the different stages of their growth: achievements in this annual report whose creative from training to logistical and financial support focus is resolutely human-centred. including animation. The incubators supported by our subsidiaries, such as CREATEAM (Mali) and SABOUTECH (Guinea), continue to grow for the benefit of the players in the digital ecosystem, while backstopping the strategies of transformation or digital emergence undertaken by the States in all our countries of presence. Sonatel Academy, the first free coding school in Senegal, celebrated in early 2019 the successful graduation of its first batch of students in web development. The foundations of the Sonatel Group are also the guarantors of our civic commitment and enable us, notably thanks to flagship projects such as the Digital Houses and «Village Projects», to help empower women and deliver services to remote communities by building health centers, schools and water points. Fifteen villages have benefited from this programme in Senegal, Mali and Guinea since it started four years ago. 11 GOOD GOVERNANCE, GUARANTEE OF TRANSPARENCY Rules of good governance / Board of Directors / Audit Committee Since May 5, 2014, the date of entry into force Articles 547-1, 831-2 and 831-3 of the above- of the new OHADA Uniform Act on the Law of mentioned Uniform Act set out these new rules.

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