Mobile firm spends US$ 12bn in Africa

  1. Posted on Friday 22 August 2008 - 09:34
    Sam Banda Junior
    Image of Sam Banda Junior
    Sam Banda Junior, AfricaNews reporter in Blantyre, Malawi, photo: Daniel Sibanda
    Zain, one of the top mobile firms in Africa is said to have invested about US$ 12 billion this month for its re-branding campaign in Africa. The firm is among the fastest growing on the continent. It also changed its name early this month from Celtel to Zain and also adapted new colours.
    mobile_phone_photo:kevinzim
    According to Zain's chief executive officer, Saad Al Barrack, the firm's investment in its African operations beats direct aid from United States, China and European Union respectively.

    According to a report from Malawi's local daily of the Nation, the rebranding of Zain from Celtel is part of bringing together their African and Middle East operations under a single and unique identity.

    The chief executive officer further said that the mobile firm had injected in US$ 2.5 billion for networks and infrastructure development in its existing markets.

    The report quoted Barrack who was in Kenya recently as saying Kenya was one of the countries where Zain has spent more money and that its operations were expected to consume about US$ 1 billion in the next five years.

    In the Southern African country of Malawi, the mobile firm will pump in US$ 91 million between this year and next year towards upgrading and other services.

    Zain according to a media report serves up to 50 million customers in 22 countries of Africa and Middle East.

    In Malawi Zain has faced competition from another mobile firm TNM. The two recently introduced cheaper cell phones.

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