Zain to expand MENA investments

(MENAFN) Zain Group's CCO, Hisham Akbar, stated that the telecommunication firm plans to expand its investments in the Middle East and North Africa (MENA) region, reported Arabian Business. Akbar added that the aim of the new investments is to boost the company's growth and increase its market share. He said that Zain, which posted a USD255 million first-quarter net profit, will focus on improving its operations with a view to achieving the operational performance that meets its targets for the current stage. It is worth noting that Kuwait-based Zain, which runs 7 mobile networks in the region, including Kuwait, Saudi, Bahrain, Jordan, Lebanon, Sudan and Iraq, managed to restructure a USD433 million syndicated short term loan into a syndicated revolving long term loan.