Bahrain mobile opportunity
Posted: 1 April 2003
“We believe that being open to partnerships will
mean new growth and opportunity for many companies and people in
Bahrain with the new mobile license,” Kingdom Investments.
The second mobile telecommunications licence in Bahrain is set
to create significant economic opportunity in the country, according
to Wataniya Telecom Bahrain, the consortium made up of Kingdom Investments,
a group of leading Bahraini companies and entrepreneurs and Kuwait’s
leading mobile operator, Wataniya Telecom.
Kingdom Investments has a majority ownership of the consortium,
and includes 15 Bahraini companies and entrepreneurs with considerable
management expertise, financial resources, retail and technical
experience and expertise in the Bahraini market. Further, the company
intends to float itself into a public shareholder company at the
nearest opportunity.
Current shareholders in Kingdom Investments include, among others,
E. K. Kanoo & Sons, Hussain Muskati & Sons, Securities &
Investment Company BSC (Bahrain’s leading securities finance
house), Abdulla Yousif Fakhro & Sons, Yousif Al Hawaj &
Sons, Mr. Yousif Al Saleh, and Y.K. Almoayyed & Sons.
A spokesman for Kingdom Investments said: “We believe that
our approach to this bid will bring wide market benefits if we are
successful in winning the license. We believe that being open to
partnerships will mean new growth and opportunity for a wide community
of companies and people in Bahrain as a result of the development
of the second mobile licence and network. This is a primary goal
for the Bahraini partners in Wataniya Telecom Bahrain. Together,
we believe that we represent a deep understanding of competitive
markets and the Bahraini environment, we have a commitment to Bahrain
and its people, as members of the Bahraini community”
As well as the creation of direct employment opportunities that
the formation of a new mobile operator will bring, Wataniya Telecom
Bahrain will locate its substantial assets and operations in Bahrain
and numerous opportunities will be created for Bahraini vendors
and service providers.
By following a partnership model, the consortium also believes
that other opportunities in such areas as service and content provision
can start to drive new opportunities, particularly for young people,
inside and outside Bahrain.
About Wataniya Telecom
Launched in December 1999, Wataniya Telecom is the second licensed
GSM mobile operator in the State of Kuwait. With a market capitalisation
exceeding US $1.5 Billion, the Company has been a driving force
in increasing the mobile communications market penetration in Kuwait
to over 54 percent of the population.
The Company recently expanded internationally in December 2002
as the second licensed mobile telecommunications operator in Tunisia
through its acquisition of 50 percent of GSM operator Tunisiana.
With over 675,000 subscribers, Wataniya Telecom has built its success
on a customer focused strategy built on the philosophy that ‘caring
makes the difference.’
The Company provides a wide range of leading edge wireless voice
and data services delivered with high quality and designed to meet
customer requirements Recognised by a GCC Ministerial award in 2002
for employing and developing the national workforce, Wataniya Telecom
is committed to employing, investing in and promoting local nationals
within the countries in which it operates.
Posted by Richard Price,
Editor Pipeline Magazine
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