Thursday, August 18, 2022
Thursday, August 18, 2022
Home Business Zain Plans to Strengthen the Little Presence it has in Africa

Zain Plans to Strengthen the Little Presence it has in Africa

by Vince Matinde
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Zain+Telecom

Kuwait based telecommunication company Zain is said to be weighing options to renew its strength in Africa by buying in markets in North Africa including Tunisia and Libya.

The company expressed its interest to launch into Tunisia and also opt for a third license in Libya.

According to the National in Unite Arab Emirates, Zain is also looking to buyout smaller companies including internet service providers and media houses in the region.

The company that sold most of its African assets to Bharti Airtel in 2010 in a US$10.7 billion, has found its market share dwindling in the continent, even with consistent service mostly in North Africa.

“We still want to grow inorganically and we are looking at opportunities in the Middle East and North Africa. There are some opportunities that strategically make sense,” said Scott Gegenheimer, the chief executive.

“We are reviewing several opportunities in North Africa and countries like Libya and Tunisia are interesting, but we want a majority control. Anything less than 51 per cent stake doesn’t do much,” Gegenheimer stated the company’s strategy.

Telecom in Sub Saharan Africa remains a competitive field. It is in doubt if Zain will launch any move to try to re-enter this market.

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