Kuwaiti telecommunication firm Zain has announced revenue growth in Sudan of four per cent in Unites States dollar terms in its first quarter of 2014.
The company, which services over 46.2 million customers in eight countries across the Middle East and Africa, earlier this year reported an 18 per cent growth in revenue during 2013, despite a 35 per cent devaluation of the Sudanese pound.
The quarter closed with Zain providing telecommunications services to over 11 million people in Sudan, up 200,000 since the end of the last quarter.
While the company’s revenue increased by four per cent in terms of dollars, its growth in Sudanese pounds (SDG) was at eight per cent, due to the weakening of the currency last year.
“In local SDG currency terms, revenues grew by 8 per cent year-on-year,” the company said.
However the company said the same success was not seen in South Sudan.
“Several challenges resulted in reduction of customer base,” it said.
Overall, the company has seen four per cent revenue growth year on year, totalling US$1.1 billion, and an eight per cent increase in net income, totalling US$198.4 million.
The company has also seen its user base grow by five per cent across its operations.
“Across many of our markets, we are witnessing growth in key financial indicators as we drive efficiency and innovation,” said Zain Group chief executive officer (CEO), Scott Gegenheimer.
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