Zain Group, a pioneer of mobile telecommunications in the Middle East and North Africa, has revealed that it is preparing to implement a wide range of project investments across the MENA, where it operates eight mobile networks.
The Group said that these projects will focus on introducing new communication services while also reinventing current offerings.
This outline was given during Zain Group's strong presence at the first of what shall become an annual conference held by JP Morgan for the MENA and Turkey region. The conference, which took place over two days in London, saw participation from numerous international investors, companies, institutions and banks, including Zain Group.
Hisham Akbar, Zain Group's Chief Commercial Officer, said during the intensive meetings held between the company and international investors and banks that: "Zain Group is currently focusing on maximizing the opportunities in its core markets and reinforcing its competitive edge in order to maintain growth in its financial indicators."
Akbar continued, "The Group has many incentives that will help us achieve the targeted growth rates. Thus, our current priority is to increase the focus on developing our operations with a view to achieving the operational performance that meets our ambitions for this stage in our development."
He noted that Zain's services portfolio, which has been reinforced recently by the signing of a number of high-profile international agreements, is set to develop the Group's marketing and commercial operations in new areas. This will reinforce Zain's position as one of the most technically savvy and innovative operators in the Middle East and North Africa.
Speaking at the same JP Morgan conference in London, Osama Matta, Zain Group's Chief Financial Officer said: "Zain is in the enviable position of possessing a solid financial grounding and its current situation is stronger than ever given its debt levels are under control and loan payment obligations are not onerous. Thus the Group enjoys a good financial status with very low debt levels."
Matta continued, "The financial solvency of the Group allows for the implementation of our planned investments and the achievement of our strategic priorities and goals as a result."
JP Morgan's MENA and Turkey investor conference is set to become one of the most prominent economic and investment forums for the bank going forward, drawing together preeminent international investors, researchers, analysts, and interested parties from around the world.
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