February 23, 2009
Zain Plans $1.5 Billion Africa
Investment, Business Report Says
By Nasreen Seria, Bloomberg News
Feb. 23 (Bloomberg) -- Zain, the Kuwait-based phone company, plans to invest
$1.5 billion in Africa to expand its existing networks, Business Report
said, citing Chris Gabriel, chief executive officer of Zain Africa.
The company has up to three acquisitions in Africa that are close to being
completed, Gabriel told the Johannesburg-based newspaper.
Zain raised $4.5 billion last year to fund acquisitions and to upgrade its
existing networks, Business Report said.
To contact the reporters on this story: Nasreen Seria in Johannesburg at