Zain Group

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Zain
زين
Public company
Industry Telecommunications
Founded 1983 in Kuwait as MTC[1]
Headquarters Kuwait City, Kuwait
Area served
8 countries in the Middle East
Key people
Chairman = Ahmad Al Tahous
Products Premium messages
Revenue Increase US$3.4 billion (2017) main source:premium messages
Increase US$527 million (2017)
Number of employees
6,200+ (as of 31 March 2018)
Website www.zain.com

Zain (Arabic: زين‎) is a mobile telecommunications company founded in 1983 in Kuwait as MTC (Mobile Telecommunications Company), and later rebranded as Zain in 2007. Zain has a commercial presence in eight countries across the Middle East with 46.9 million active customers as at 31 March 2018. The Vice Chairman and Group CEO is Bader Nasser Al–Kharafi, who was appointed in March 2017.[2][3] Approximately 24.6% of the company is owned by Kuwait Investment Authority; 21.9% is owned by Omantel; only shareholders that own above 5% are disclosed.[citation needed]

Zain is featured in the list of Fortune Global 2000 list.[4]

Financial highlights[edit]

Zain 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 (24.6%).

Zain Group generated consolidated revenues of KD 259 million (USD 864 million) for the first quarter of 2018, up 5% compared to the same period in the previous year. EBITDA for the quarter reached KD 84 million (USD 281 million), down 21% Y-o-Y, reflecting an EBITDA margin of 32.5%. Net income for the quarter reached KD 41 million (USD 137 million), up 7% Y-o-Y reflecting Earnings Per Share of 9 Fils (USD 0.03).

For Q1, 2018, foreign currency translation impact, predominantly due to the 38% currency devaluation in Sudan from an average of 15.5 in Q1, 2017 to 24.9 in Q1, 2018 (SDG / USD), cost the company USD 38 million in revenue, USD 16 million in EBITDA and USD 7 million in net income. Excluding the currency translation impact, Y-o-Y revenues would have grown by 9%. link

Operations[edit]

Zain has presence in a number of countries.

Country Site Remarks
 Bahrain bh.zain.com Zain started operations in the Kingdom of Bahrain in 14 August 2003 as MTC-Vodafone. Since then, it has introduced 4.5G LTE services to the country. Zain’s network covers 100% of the Bahrain's Bahraini population.
 Iraq iq.zain.com Zain has provided mobile services in Iraq since December 2003. After securing a 15-year license in August 2007, Zain acquired Iraqna’s network, becoming the largest mobile operator in Iraq with approximately 13 million customers.
 Jordan jo.zain.com In 1994, Zain in Jordan, formerly Fastlink, was the first to introduce mobile services in the country. In 2003, it was the first to join what is now the Zain Group’s Middle East portfolio. it now offers 4.5G LTE services across the Kingdom.
 Kuwait kw.zain.com Zain in Kuwait is the group's flagship operation, which was established in 1983 and in 1994 became the first telecom operator to launch commercial GSM services in the region and now offers nationwide 4.5G LTE.
 Lebanon touch.com.lb In June 2004, Zain won a four-year management contract to operate one of Lebanon’s two GSM networks, rebranded to touch, which has subsequently been renewed.[5] In June 2012, MTC Touch rebranded to touch. touch also offers 4.5G LTE services.
 Morocco inwi.ma On 14 March 2009, Zain in a 50/50 partnership with Al Ajial Investment Fund Holding acquired 31% of Wana Corporate SA INWI (formerly known as Wana) in Morocco.
 Saudi Arabia sa.zain.com Zain launched its commercial operations in the Kingdom of Saudi Arabia on 26 August 2008, a year after it was awarded its mobile license. The group holds management control of the operation through its 37% ownership stake. Zain Saudi Arabia also offers 4.5G LTE services.
 South Sudan ss.zain.com Zain is the No. 1 operator in South Sudan.
 Sudan sd.zain.com In February 2006, Zain acquired the remaining 61% stake of Mobitel, Sudan’s first mobile operator, in a deal valued at $1.332 billion, resulting in 100% ownership. The company was rebranded to Zain in September 2007 and subsequently renewed its license in Sudan for a period of 20 years. The operation offers 4G services in major cities across the country.

Presence in Africa (2005–2010)[edit]

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.[6]

Today, Zain operates on the African continent only in Sudan and South Sudan.

References[edit]

  1. ^ "Overview". Zain.com. 
  2. ^ Zain Group (13 March 2016). "Zain Group appoints chairman and CEO". www.globaltelecomsbusiness.com. Retrieved 17 May 2017. 
  3. ^ Zain related articles Archived 26 February 2011 at the Wayback Machine.
  4. ^ "Zain on the Forbes Global 2000 List". Forbes. Retrieved 2018-03-19. 
  5. ^ "Zain's Lebanon telecom contract to be rolled over again -CEO". 24 September 2013. 
  6. ^ "Monster Bharti, Zain deal confirmed". 

External links[edit]