Introduction: Ahead & Growing
Zain (formerly MTC) is the pioneer of mobile telecommunications in the Middle East and now a major player on the African continent.
We began life in 1983 in Kuwait as the region’s first mobile operator, and since the initiation of our “3x3x3” expansion strategy in 2003, we have expanded rapidly.
Today, we are a leading mobile and data services operator with licenses in seven Middle Eastern and 15 sub-Saharan African countries with over 15,000 employees providing a comprehensive range of mobile voice and data services to over 50.74 million** active individual and business customers (June 30, 2008).
In the Middle East we operate in Kuwait, Jordan, Bahrain, Sudan and Iraq as Zain, and in Lebanon as mtc touch. Zain will commence commercial operations in the Kingdom of Saudi Arabia soon.
In Africa effective from August 1, 2008 we operate as Zain (formerly Celtel) in the following sub-Saharan countries: Burkina Faso, Chad, Democratic Republic of the Congo, Republic of the Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda and Zambia. Our operation in Ghana will commence commercial service in the 4th quarter of 2008.
Listed on the Kuwait Stock Exchange, Zain’s market capitalization exceeded US$25 billion as at June 30, 2008. There are no restrictions on Zain shares as the company’s capital is 100% free float and publicly traded. The largest shareholder is the Kuwait Investment Authority (24.6%).
Zain's corporate strategy can simply be summarized as "3x3x3", an ambitious, sustainable expansion strategy that will see Zain become a leading mobile services provider on the global stage by the end of the year 2011. Initiated in year 2003, it is this strategy that will make Zain a global player in three stages: regional, international and global, with each stage completed in three years. In essence, through acquisitions, partnerships and green-field opportunities, Zain aims to achieve in nine years what other companies have taken more than 27 years to achieve.
At the beginning of 2007, Zain launched ACE -an implementation strategy to realize the target of the 3x3x3 vision. ACE seeks to extract superior value from existing assets through three main thrusts: Accelerating the growth in Africa; Consolidating the existing assets; and Expanding into adjacent markets. Through implementation of the ACE strategy, Zain's new goals by the year 2011 are to attain:
- a US$ 6 Billion EBITDA
- exceed 110 million customers
- to become one of the top ten leading telecom companies in the world by market capitalization.
In addition to securing the best possible returns for shareholders consistent with a high standard of corporate governance, Zain considers itself defined by a commitment to excellence in providing world-class mobile / data services and an ethos of corporate social responsibility in supporting communities, offering employment and creating business opportunities wherever it operates.
It is important to Zain that its economic, social and cultural projects have a positive impact on the people of all the countries in which we operate.