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Zain and UNRWA commence SMS fund-raising campaign
20 August 2010Zain announces the start of a Middle East wide marketing campaign to promote fund-raising activities in support of the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA). The campaign that is funded by Zain Group, will aim to create awareness for the agency’s humanitarian work in the region in an effort to enlist financial support for the agency’s work in the areas of health and education for the benefit of Palestinian Refugees. This partnership is the first between the UN humanitarian organization and a private sector company from the region.
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Zain announces half-year 2010 financial results
09 August 2010For the first half of 2010, the Zain Group recorded consolidated revenues of KWD 672.6 million (US$ 2.33 billion), an increase of 10% compared to the same period of 2009. The company’s consolidated EBITDA reached KWD 287.2million (US$ 995 million) with EBIT reaching KWD 206.8 million (US$716 million). Net Income soars 488% to reach KWD 895.3 million (US$3.085 billion). This includes the capital gain of KWD 770.3 million (US$2.653 billion) from the sale of Zain Africa assets on June 8, 2010. The earnings per share reached 232 fils (US$0.80).
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Zain Saudi Arabia Q2 revenue increases by 107% to SAR 1.5 billion
18 July 2010Zain KSA announced significantly increased revenues for the 3 months ending June 30, 2010, a milestone in its investment in the Saudi market. The company has now reached a remarkable break-even point for profit before interest on its Murabaha loan, taxes and depreciation (EBITDA) for the second quarter of 2010, within a period of only 22 months since commencing operations in August 2008.
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Zain Group and UNRWA Sign Cooperative Agreements to Support UNRWA’s Health and Education Projects
15 June 2010Zain Group and Zain Jordan signed two cooperative agreements with The United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) to support and finance the agency’s largely under-funded health and educational projects and extend a helping hand to around 5 million Palestinian refugees in the Middle East. Said partnership is the first to ever take place between the UN humanitarian organization and a private sector company, entailing both fundraising and human development support to the benefit of Palestinian refugees.
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Zain appoints GETMO Arabia as its international music content aggregator
13 June 2010GETMO Arabia and Zain today announced a groundbreaking agreement to provide digital music aggregation services to over 35 million Zain customers across seven countries in the Middle East which will launch with the release of Listen Up! The Official 2010 FIFA World Cup™ Album from Sony Music. This marks the first offering of non-Middle-Eastern music to users on the Zain Create music portal http://create.zain.com since its launch in 2009.
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Zain Group announces senior management changes and appointments
10 June 2010Zain Group announces comprehensive restructuring of its executive management and new appointments to meet the new challenges and direction of the company. This follows the recent sale of its African operations to Bharti Airtel, thus requiring the company to adapt to the dynamic nature of its Middle East markets, namely in Kuwait, Bahrain, Jordan, Iraq, Lebanon, Saudi Arabia, and Sudan where it serves over 31 million customers.
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Zain appoints new CEO for its Iraq mobile operation
09 June 2010The Board of Directors of the Zain Group announces the appointment of Mr Emad Makiya, Chief Executive Officer of Zain Iraq, effective June 15, 2010. Makiya holds a Bachelor Degree in Information and Computer Systems and from the University of Houston, USA.
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Zain concludes the sale of its African operations to Bharti Airtel
08 June 2010Mobile Telecommunications Company KSC (“Zain”) is pleased to announce that it has now satisfied all required conditions precedent to closing of the sale of 100% of Zain Africa BV (“Zain Africa”) to Bharti Airtel Limited (“Bharti”). This transaction values Zain’s African portfolio (excluding Sudan and Morocco) at US$10.7 billion on an enterprise basis.
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‘One Network’ expands to South Africa with Cell C
02 June 2010Zain expands its ground breaking ‘One Network’ platform to South Africa in a strategic partnership with Cell C, the country’s most dynamic mobile operator. Over 41 million Zain customers in all Zain Africa’s 15 mobile operations can now benefit from ‘One Network’ services when visiting South Africa, which will provide immediate and enormous benefits for thousands of visiting soccer fans this summer.
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Update on sale of Zain Africa BV to Bharti Airtel Limited
27 May 2010Zain announces today that Bharti and Zain are proceeding to completion and Bharti Airtel has begun drawing down to fund the completion proceeds for the sale of Zain Africa BV.
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Zain announces 2010 first quarter financial results
13 May 2010Zain announces today its consolidated financial results for the quarter ended 31 March, 2010. For the first quarter of 2010, the Zain Group recorded consolidated revenues of KWD 329.7 million (US$ 1.146 billion), an increase of 11% compared to same period in Q1-2009. The Company’s consolidated EBITDA reached KWD 139.2 million (US$ 483.7 million), EBIT of KWD 99.4 million (US$345.6 million) and net income reaching KWD 51.55 (US$ 179.1 million).The earnings per share reached 13 fils (US$0.05).
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Details of and invitation to the 2009 Zain Annual General Assembly in Kuwait
13 May 2010It gives pleasure to the Board of Directors of Mobile Telecommunications Co. (Zain) K.S.C. to invite the Company's shareholders to attend its Ordinary and Extraordinary General Assembly Meeting which is to be held at 10:30 a.m. on Thursday 27/05/2010, at the Company's premises (Headquarter) - Shuwaikh, Airport Road, Ground Floor – in order to discuss the agenda of the Ordinary and Extraordinary General Assembly.
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Zain Group announces changes in operational management in Iraq
11 April 2010The Zain Group announced today that the management of its Iraq operation, Zain Iraq, will henceforth fall under the direct supervision of the Group’s Chief Executive, Mr Nabeel Bin Salamah. The former Zain Iraq CEO, Mr Ali Al Dahwi, has been appointed special advisor on Iraq for the Zain Group.
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Zain announces full year financial results for 2009
01 April 2010Zain announces its consolidated financial results for the twelve months ending December 31, 2009. The results showed significant growth in many key indicators when compared to the corresponding 12 months in 2008.
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Zain announces the US$10.7 billion sale of its African operations to Bharti Airtel
30 March 2010Further to the statement made on 25 March 2010, Mobile Telecommunications Company K.S.C (“Zain”) announces today the signing of definitive agreements for the sale of 100% of Zain Africa BV, its African business excluding its operations in Morocco and Sudan (”Zain Africa”), to Bharti Airtel Limited (“Bharti Airtel”), for an Enterprise Value of US$10.7 billion. The transaction implies an equity value of US$9 billion and consideration will be fully satisfied in cash, of which US$8.3 billion will be paid upon closing and US$0.7 billion will be paid one year from closing. Bharti Airtel will assume US$1.7 billion of consolidated debt obligations.
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Statement on the sale of Zain Africa BV to Bharti Airtel Limited
25 March 2010Further to the announcement made by Mobile Telecommunications Company KSC, ‘Zain’, on February 16, 2010, regarding the sale of its African unit, ‘Zain Africa BV’ to Bharti Airtel Limited, the company confirms that the Board of Directors of Zain met in Kuwait on Wednesday 24 March 2010, to review the latest developments and negotiations related to this matter.
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Research report highlighting the socio-economic impact of mobile telephony in Sudan
23 March 2010Zain in association with the global telecom equipment supplier Ericsson (NASDAQ: ERIC), commissioned and published a groundbreaking report highlighting the social and economic impact of mobile communications in Sudan, where Zain is the biggest operator with a customer market share of 60%. Titled ‘Socio-Economic Impact of Mobile Communications in Sudan’, the report that builds on two years of research and covers four basic areas: Khartoum, Juba in the South, in Darfur, and in the North. The study is comprised of three separate sub reports, covering many dimensions of social and economic development.
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Zain launches award winning mobile commerce service 'Zap' in Ghana
17 March 2010'Zap’, Zain’s award winning mobile commerce service that allows customers to use their mobile phones like a mobile wallet to pay for goods and services and conduct banking services regardless of the type of handset they use, was launched today in Accra. Zap is a novel product that provides the most comprehensive and accessible package of m-commerce features currently available anywhere in the world.
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US$1 million to be won on Zain Africa Challenge TV show
25 February 2010Zain is happy to announce the fourth season of the hugely popular Zain Africa Challenge, the first ever televised international academic quiz show featuring Africa’s top university students and which will be watched by more than 200 million people across Africa.
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Inspiring big ideas in you: Zain unveils ‘My Business’ in Nigeria
23 February 2010Zain has announced the introduction of ‘My Business’ in Nigeria, a unique package that is specially designed to assist and improve the efficiency of mobile usage for business people and their workforce. ‘My Business’ is a result of extensive research conducted across several Zain markets to uncover what entrepreneurs require from their mobile service provider to support their day to day commercial activities, so they have the peace of mind and more time to focus on big ideas and grow their businesses...
For all press releases prior to December 31, 2009, please visit the archives page from the link below