Accra,
Nov. 18,
Ghanadot/GNA
– Zain,
one of
the new
multi-national
entrants
into the
local
telecom
industry,
has
outlined
its
strategy
to
catapult
itself
to the
top of
the
telecom
market
in Ghana
and
elsewhere
by the
close of
2011.
The
strategy,
dubbed
“3x3x3”
was
designed
to make
Zain a
major
player
on the
regional,
international
and
global
stages,
each of
which
was to
be
completed
in three
years.
Zain
facts
sheet
available
to the
Ghana
News
Agency
said
that in
essence,
through
acquisitions,
partnerships
and
green-field
opportunities,
Zain
aims to
achieve
in nine
years
what
other
companies
have
taken
more
than 27
years to
achieve.
Western
Telesystem
Limited
(WESTEL),
Ghana,
was the
latest
acquisition
of the
Kuwaiti-based
mobile
telecom
pioneer
and
giant,
Zain.
The
company
has
since
its
acquisition
of
WESTEL
been
improving
infrastructure,
including
laying
fibre
optic
cables
in
preparation
for a
huge
re-branding
later in
the
year.
“The
corporate
strategy
simply
summarized
as 3x3x3
is an
ambitious,
sustainable
expansion
strategy,
that
will see
Zain
become a
leading
mobile
services
provider
on the
global
stage by
the end
of the
year
2011,”
the
facts
sheet
said.
It said
a
strategy
dubbed
ACE
implementation
plan,
which
sought
to
accelerate
the
growth
of the
company’s
African
base,
consolidate
existing
assets
and
expand
into
adjacent
markets
had been
put in
place to
facilitate
the
realisation
of the
3x3x3
vision
within
the set
time.
The
facts
sheet
said
through
the
implementation
of the
ACE
strategy,
Zain’s
new
goals by
the year
2011
were to
attain
150
million
customers,
six
billion
US
dollars
earnings
before
interest,
taxes,
depreciation
and
amortization
(EBITDA)
and to
become
one of
the top
10
leading
telecom
companies
in the
world by
market
capitalisation.
Currently
Zain has
50.74
million
subscribers
in 22
countries
in the
Middle
East and
Africa.
The Zain
facts
sheet
noted
that
with its
16,000
staff
strength,
the
company
was
committed
to high
standards
of
corporate
governance,
excellent
and
quality
world
class
mobile
and data
serviced
provision
and to
the
ethos of
corporate
social
responsibility
in
supporting
communities,
offering
employment
and
creating
business
opportunities
wherever
it
operated.
It said
out of
the
total of
50.74
million
subscribers
across
its
operations,
33.301
million
were in
15
countries
in
Africa
alone,
where
the
company
used to
have the
brand
name
Celtel,
and the
remaining
17.439
million
are in
seven
Middle
Eastern
countries.
The
facts
sheet
said
Zain was
listed
on the
Kuwait
Stock
Exchange,
adding
that the
company’s
market
capitalization
exceeded
US$27
billion
as at
June 30,
2008.
“As the
largest
shareholder
is the
Kuwait
Investment
Authority
(KIA)
with and
share of
24.6%
there
are no
restrictions
on Zain
shares
as the
company’s
capital
is 100%
free
float
and
publicly
traded,”
it said.
GNA
