MTC looking for a move

Kuwaiti-based cellular group Mobile Telecommunications Company (MTC) says it is considering relocating its headquarters because Kuwait’s business environment ‘repels investment’. Kuwait newspaper Al Rai quoted MTC deputy chairman Saad Al-Barrak, who said: ‘MTC is today thinking on the global scale… especially since Kuwait accounts for only 15% of its revenue which will fall below 7% in the next two years.’ The firm is considering a move to a regional financial centre such as Dubai or Bahrain. Kuwait’s acting Communications Minister, Abdulwahed Al Awadhi, says the government will work with MTC to ensure it stays in the country. MTC Group has operations in Kuwait, Bahrain, Jordan, Iraq, Lebanon and Sudan, plus 14 sub-Saharan African countries via its wholly-owned subsidiary Celtel.