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Mobile Telecommunications Company

Zain Group is a mobile telecommunications company founded in 1983 in Kuwait as MTC or Mobile Telecommunications Company, and was later rebranded to Zain in 2007. Zain has commercial presence in 8 countries across the Middle East and North Africa with 44.3 million active customers as of 31 December 2014. It employs over 7000 people. The group CEO is Scott Gegenheimer, who was appointed in December 2012.OperationsZain has presence in the following countries:Presence in Africa (2005-2010)From 2005 to 2010, Zain maintained a presence in a number of countries in Sub-Saharan Africa, in addition to its core market in the MENA region.Zain entered Africa in May 2005 through the $3.4 billion purchase of Celtel International which had 13 country operations in Africa, serving five million customers at that time. Zain invested heavily across the continent through network upgrades and acquiring two more country licences. By June 2010, Zain had over 40 million customers across the continent, operating in Burkina Faso, Chad, Democratic Republic of the Congo, Gabon, Ghana, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda and Zambia.In early 2010, Zain accepted an offer for the sale of all its Africa operations. On 8 June 2010, Zain announced that it had satisfied all required conditions precedent to closing of the sale of 100% of Zain Africa BV to Bharti Airtel Limited for $10.7 billion on an enterprise basis.Financial HighlightsZain is listed on the Kuwait Stock Exchange. There are no restrictions on Zain shares as the company’s capital is 100% free float and publicly traded. The largest shareholder is the Kuwait Investment Authority (24.24%).
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Mobile Telecommunications Company

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Category: Organization
Found: 17.10.2015

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