Zain - Kuwait

Formerly known as MTC, Kuwait’s national telecoms brand Zain has grown into a global player with operations in more than 22 countries. According to CEO Saad Al Barrak, the firm has ringfenced $5bn to spend on new acquisitions before 2011 and is on track to hit this year’s target of a 30 percent rise in net profit. Group net profit was $1.40bn in 2008; an annual increase of six percent.

Last year proved highly successful for the telecoms firm: it rebranded its entire African network and began operations in Saudi Arabia. In September Zain raised $4.40bn in a capital increase. Some 99 percent of existing shareholders subscribed to the offer, making it the largest capital raising in Kuwait’s history.

This year Zain looks set to expand its presence in North Africa, after last month taking a 31 percent stake in Wana, Morocco’s third mobile operator, for $324m. The firm is already active in Ghana, where it launched Africa’s first 3.5G network in December.

Zain is listed on the Kuwait Stock Exchange.
More about the company
Address: Airport Road PO Box 22244 , Kuwait City, KUWAIT

Mobile Telecommunications Company, MTC - Vodafone

Zain, Zain Group

Joint stock

22 June 1983

Public

965 4644444

965 4837755

info@zain.com

www.zain.com

Related articles

Kuwait's Zain says Q3 net profit rise by 12%

Kuwait's Zain says Q3 net profit rise by 12%

Tuesday, 18 October 2016 5:46 PM

Kuwait's biggest telecoms operator by subscribers posts $142m net profit in three months to Sept 30

Kuwait's Zain says Q2 net profit up 14% as FX losses decline

Kuwait's Zain says Q2 net profit up 14% as FX losses decline

Sunday, 31 July 2016 6:01 PM

Chief Executive Scott Gegenheimer said Jordan, Saudi Arabia and Sudan all experienced healthy growth in the first half of this year

Kuwaiti's Zain interested in Egypt 4G licence, says ministry official

Kuwaiti's Zain interested in Egypt 4G licence, says ministry official

Sunday, 17 July 2016 5:08 PM

Sale of 4G licences is part of Egypt's long-awaited plan to reform the telecoms sector

Kuwaiti telco Zain says Q1 net profit falls 9%

Kuwaiti telco Zain says Q1 net profit falls 9%

Sunday, 24 April 2016 7:29 PM

Telco posted falling profits in six of the preceding seven quarters due to tougher domestic competition, service interruptions and higher costs

Tower firms eye Zain's assets in Kuwait, Saudi Arabia

Tower firms eye Zain's assets in Kuwait, Saudi Arabia

Wednesday, 16 March 2016 4:08 PM

Sources say Kuwaiti telco is narrowing field of potential bidders for mobile transmitter towers

Kuwait's Zain writes to Iraq PM to complain of treaty breach

Kuwait's Zain writes to Iraq PM to complain of treaty breach

Wednesday, 2 March 2016 8:28 PM

Source says telco claims Baghdad has breached a bilateral investment treaty between the two countries

Kuwait's Zain halts earning slump with Q4 profit rise

Kuwait's Zain halts earning slump with Q4 profit rise

Wednesday, 10 February 2016 6:25 PM

The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profit $120.4 million.

Zain Iraq says to launch 3G mobile services by Jan 2015

Zain Iraq says to launch 3G mobile services by Jan 2015

Tuesday, 11 November 2014 9:27 AM

Iraq is one of the few Middle East countries still reliant on slower 2G networks, which mostly carry voice calls and SMS texts and only the most basic online services

Zain's Bahrain unit sees weak demand for IPO

Zain's Bahrain unit sees weak demand for IPO

Monday, 6 October 2014 12:45 PM

Only 16.7 million shares, equivalent to 34.8% of the offering, is sold to retail and institutional investors

Zain says Bahraini unit IPO to start in September

Zain says Bahraini unit IPO to start in September

Monday, 4 August 2014 11:47 AM

Subscription period will run from September 2 to September 16

Kuwait's Zain says court lifts freeze on Iraq earnings

Kuwait's Zain says court lifts freeze on Iraq earnings

Tuesday, 15 July 2014 1:38 PM

Move coomes after a $4.5 billion lawsuit against the telco was dismissed earlier this month

Gulf telcos pledge to cut cost of roaming charges

Gulf telcos pledge to cut cost of roaming charges

Friday, 30 May 2014 1:40 AM

Etisalat, Zain, Ooredoo and Saudi Telecom Co among key players committed to addressing pricing, says GSMA

Kuwait’s Zain hunts North Africa M&A

Kuwait’s Zain hunts North Africa M&A

Wednesday, 5 March 2014 10:39 AM

Telecommunications giant eyeing countries including Libya, Egypt and Morocco, CEO says

Kuwait’s Zain gets $800m syndicated loan

Kuwait’s Zain gets $800m syndicated loan

Tuesday, 4 March 2014 2:30 PM

Telco gets five-year facility from 11 lenders; to be used for general corporate requirements

Kuwait's Zain looks to up stake in Morocco telco

Kuwait's Zain looks to up stake in Morocco telco

Thursday, 27 February 2014 9:28 AM

Exclusive: telco boss says seeking acquisitions across Middle East and North Africa

Zain Bahrain said to launch IPO by end-Q2

Zain Bahrain said to launch IPO by end-Q2

Wednesday, 12 February 2014 7:10 PM

Source says telecom operator will launch stock market flotation by end of June

Kuwait's Zain says not interested in Sudanese telco Canar

Kuwait's Zain says not interested in Sudanese telco Canar

Tuesday, 3 December 2013 7:21 PM

Kuwaiti operator denies report linking it to buying Canar from UAE's Etisalat

UAE's Etisalat may revive talks to sell Sudanese unit

UAE's Etisalat may revive talks to sell Sudanese unit

Monday, 2 December 2013 7:03 PM

Source says UAE telco could resurrect deal to sell Canar to Kuwait's Zain

Zain wants to keep majority control of Bahrain arm after IPO

Zain wants to keep majority control of Bahrain arm after IPO

Sunday, 1 December 2013 4:08 PM

Kuwait telco's chief exec says yet to agree exact terms of the share sale

Zain pays Motorola $231.4m on behalf of Saudi unit

Zain pays Motorola $231.4m on behalf of Saudi unit

Sunday, 16 December 2012 11:54 AM

Kuwaiti telco will pay US firm cash to cover costs of contract entered by Saudi unit


Related searches

Zain Kuwait launches LTE services

Wednesday, 21 November 2012 4:59 PM

Nationwide service will provide customers with the fastest mobile internet speed in the country

Kuwait's Zain says Q3 net profit rise by 12%

Tuesday, 18 October 2016 5:46 PM

Kuwait's biggest telecoms operator by subscribers posts $142m net profit in three months to Sept 30

Kuwait's Zain says Q2 net profit up 14% as FX losses decline

Sunday, 31 July 2016 6:01 PM

Chief Executive Scott Gegenheimer said Jordan, Saudi Arabia and Sudan all experienced healthy growth in the first half of this year

Kuwait's Zain says Iraq regulator revives complaint

Monday, 4 April 2016 2:24 PM

Telecoms operator could face a fine of $100m after new twist to long-running legal dispute

Tower firms eye Zain's assets in Kuwait, Saudi Arabia

Wednesday, 16 March 2016 4:08 PM

Sources say Kuwaiti telco is narrowing field of potential bidders for mobile transmitter towers

Kuwait's Zain writes to Iraq PM to complain of treaty breach

Wednesday, 2 March 2016 8:28 PM

Source says telco claims Baghdad has breached a bilateral investment treaty between the two countries

Kuwait's Zain halts earning slump with Q4 profit rise

Wednesday, 10 February 2016 6:25 PM

The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profit $120.4 million.

Kuwait bourse cancels trades in Kuwait Investment Co, Zain

Thursday, 23 October 2014 1:22 PM

Kuwait Stock Exchange says trading in shares will resume on Sunday

Kuwait's Zain extends earnings slump as Q3 profit falls 18 percent

Sunday, 25 October 2015 7:27 PM

The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profit of $125.50 million in the three months to Sept. 30

Kuwait's Zain eyes technology investments, says CEO

Monday, 14 September 2015 7:08 PM

Telecoms operator says considering buying into two digital advertising companies

Kuwait's Zain posts 34% drop in Q2 net profit

Wednesday, 29 July 2015 4:42 PM

Telecom operator extends sustained earnings slump after making net profit of $128.8m during quarter

Kuwait's Zain posts 26.7% slump in Q1 net profit

Tuesday, 12 May 2015 5:09 PM

Kuwait's No.1 telecom operator by subscribers says political instability severely impacted Iraq unit

Kuwait’s Zain hunts North Africa M&A

Wednesday, 5 March 2014 10:39 AM

Telecommunications giant eyeing countries including Libya, Egypt and Morocco, CEO says

Kuwait’s Zain gets $800m syndicated loan

Tuesday, 4 March 2014 2:30 PM

Telco gets five-year facility from 11 lenders; to be used for general corporate requirements


Officers »
Board of Directors Position
Asaad Ahmad Al Banwan
Chairman
Saad Hamad Al Barrak
Vice Chairman
Khalifa Ali Khalifa Al Sabah
Board Member
Aida Salem Al Ali Al Sabah
Board Member
Jamal Ahmad Al Kandari
Board Member
   
Management Position
Tito Allai
Group Chief Commercial Officer
Sam M. Deeb
Group Chief Financial Officer
Haitham Al Khalid
Group Chief Strategy Officer
Mohammed Shabib
Group Chief Regulatory Officer
Khaled Abdullah Al Hajeri
Group Chief Technical Officer
View all
Major Shareholders
Name Country
Al Khair National for Stocks and Real Estate Company
Kuwait
Kuwaiti British Readymix Company
Kuwait
National Investments Company - Kuwait
Kuwait
Kuwait Investment Authority
Kuwait
This Week's Magazine »
sponsoredTracking