Zain wants a bigger slice of Africa

Even with the economic recession clouding the global economy, Kuwait-based mobile telecommunications company, Zain is eyeing acquisitions in Africa and the Middle East worth US$4 billion by 2010, said chief executive Saal al-Barrak last week.

Taking into account the current scenario, Barrak said Zain intends to spend US$3 to US$4 billion throughout the next 12 months.

With current operations in 22 countries, Zain aims to become the leading operator in Africa and the Middle East, and is looking to acquire majority stakes in companies or acquiring licenses in the two regions.

Read the full article on itnewsafrica.com.