Kuwait’s leading telecommunications provider, Zain, has indicated it has no intentions of withdrawing from Sudan and remains interested in launching in Libya
Bader Nasser Al-Kharafi, Zain board member, told Arabian Business despite the poor economic position of Sudan, which saw the company lose around US$179 million in revenue and US$44 million in profit in the first quarter of 2013, they still saw potential in the market.
He said: “We will definitely hold onto Sudan. I mean the numbers are good, but [for] the fluctuation in currency.
“We believe things will be solved in Sudan soon. On the long-term I think Sudan will settle down and I see it as a great opportunity. We will keep that.”
Al-Kharafi also confirmed they were interested in the Libyan market, despite a potential privatisation tender for the country’s telecommunications industry currently being on hold.
He added: “We don’t have a number [of target markets] but whenever there is an opportunity we will invest. We were targeting Libya and they stopped the process there but Libya is one of the countries we would like to be in.”
