Zain plans acquisition of five firms in Middle East and Africa

Zain has generated an amount of $4.5Bn from it Kuwaiti investors. The telco will utilise this sum to acquire four to five companies in the Middle East and Africa.
According to Zain’s CEO Christopher Gabriel, Zain wants to invest in Africa and GCC in order to bring the continents together. “Zain has invested $12bn to date and has a growing customer base of 50 per cent per year and two-thirds of our customer base is in Africa,” he said. “We have 25pc penetration in Africa and in Bahrain it’s 100pc, which shows it doesn’t stop at a 100pc and we are committed to continue investing.”
CEO Zain further pointed out to a study by the London Business School according to which a 10% increase in Zain’s subscriber base will lead to a 1.2% rise in GDP.
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