Orascom passes 50 million, targets 100 million by 2009

8 Dec 2006

Egypt’s Orascom Telecom Holding (OTH) has signed up its 50 millionth subscriber, adding 20 million new users across its subsidiaries in less then twelve months, the company said in a statement. ‘This is a major milestone for OTH in an ever more competitive world,’ OTH Chairman Naguib Sawiris said. ‘I am convinced that OTH is strategically, operationally, and financially well positioned to deliver superior growth and profitability in the future for its shareholders, and the 100 million subscriber mark by 2009 is our new target.’ OTH has stakes in mobile operators in Algeria, Pakistan, Egypt, Iraq, Tunisia, Bangladesh, Africa and the Republic of the Congo (Brazzaville). At the end of September 2006 its total subscriber base across all operations stood at 46.52 million.