Orange saw a 37 per cent leap in money subscribers to 14.2 million in Q2, a performance outstripped by the service’s revenue growth.

However, the 37 per cent increase was calculated from a 10.4 million subscriber base in June 2014, a figure that has been restated from the 10.8 million originally announced at the time. Using the lower figure would have represented a lower, 31 per cent, growth rate.

The figure was restated following last year’s sale of Orange’s majority stake in its Uganda operations to Africell. Orange Money users are predominately in Africa.

Meanwhile, the operator reported a 76 per cent increase in revenue from Orange Money for the three months to end of June, compared to the same period in 2014. It did not reveal the actual revenue figure.

Overall, Orange’s Africa and Middle East business had 102 million mobile subscriptions at end-June, indicating plenty of headroom for future growth in mobile money users. In Q2 2015, the regional business recorded €1.16 billion of revenue, an increase of 4.5 per cent (or 4.7 per cent excluding regulation).