Zain remains upbeat amid financial crisis

5 Jan 2009

The Kuwait-based international cellular group Zain says it expects net profit to increase by over 30% in 2009, with EBITDA predicted to rise by around 40%. A report from Reuters, which quotes local newspaper al-Watan, adds that Zain is expecting total subscriber numbers at its 22 operations in the Middle East and Africa to reach more than 94 million by end-2009, up from 64 million currently. Zain CEO Saad al-Barrak told al-Watan that the cellco’s financial situation is healthy despite the current global financial crisis.

Zain Group