Mobile Telecommunications Company K.S.C.P. (
doing business as
A trade name, trading name, or business name is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is fictitious business name. Registering the fictitious name with ...
Zain) is a Kuwaiti mobile
telecommunications
Telecommunication, often used in its plural form or abbreviated as telecom, is the transmission of information over a distance using electronic means, typically through cables, radio waves, or other communication technologies. These means of ...
company founded in 1983 in Kuwait as MTC (Mobile Telecommunications Company), and later rebranded as Zain in 2007. Zain has a commercial presence in seven countries across the
Middle East
The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq.
The term came into widespread usage by the United Kingdom and western Eur ...
with 47.8 million active customers as of 30 June 2024. The Vice Chairman and Group CEO is
Bader Nasser Al-Kharafi, who was appointed in March 2017.
As of 2024, the two major stakeholders are
Kuwait Investment Authority
The Kuwait Investment Authority (KIA) is the State owned sovereign wealth fund of the State of Kuwait, managing the state's reserve and the state's future generation fund, also known as "Ajyal Fund".
Founded in 1953, the KIA is the world's old ...
with 15.9% and
Omantel
Oman Telecommunications Company (Omantel) is the first telecommunications company in Oman and is the primary provider of internet
The Internet (or internet) is the Global network, global system of interconnected computer networks that ...
with 21.9%.
The Zain brand is one of the recognized telecom brands across the
MENA
The Middle East and North Africa (MENA), also referred to as West Asia and North Africa (WANA) or South West Asia and North Africa (SWANA), is a geographic region which comprises the Middle East (also called West Asia) and North Africa together ...
region, with a brand value of US$3 billion (2024).
Financial highlights
Zain is listed on the
Kuwait Stock Exchange
Boursa Kuwait Securities Co., is the private-sector corporate owner and operator of the Kuwait Stock Exchange (KSE), the national stock market of Kuwait.
History
Although several share holding companies (such as the National Bank of Kuwait in 1 ...
. There are no restrictions on Zain shares as the company's capital is 100% free float and publicly traded.
In Q2 2024, Zain Group generated consolidated revenue of KD 479 million (USD 1.6 billion), up 4% compared to Q2 2023. Normalized EBITDA grew 13% YoY to reach KD 178 million (USD 579 million), reflecting an EBITDA margin of 37%. Normalized net income growth soared 55% to reach KD 52 million (USD 170 million) reflecting an earnings per share of 12 fils. Normalized EBITDA and net income growth for Q2 2024 is arrived at by adjusting the number range claim in Q2 2023.
Operations
Zain has presence in a number of 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
Bharti Airtel Limited is an Indian Multinational corporation, multinational Telecommunications in India, telecommunications company based in New Delhi. It operates in 18 countries across South Asia and Africa, as well as the Channel Islands. ...
Limited for $10.7 billion on an enterprise basis.
Today, Zain operates on the African continent only in Sudan, South Sudan and Morocco.
See also
*
Celtel
References
External links
* {{Official website, https://zain.com/en
Telecommunications in South Sudan
Telecommunications companies established in 1983
Telecommunications companies of Kuwait
Telecommunications companies of Bahrain
Kuwaiti brands
Mobile phone companies of Kuwait
Companies based in Kuwait City
Kuwaiti companies established in 1983