Zain Group Announces $1 Billion Investment in Network Expansion and Infrastructure

Zain Group, a prominent telecommunications operator in the Middle East and North Africa, has disclosed a substantial investment of nearly $1 billion in network expansion and infrastructure. The capital expenditure represents 16 percent of the company’s revenue and is primarily directed towards the deployment of 4G and 5G networks, expansion of fiber-to-the-home (FTTH) infrastructure, and spectrum license fees. The financial report for the full-year 2023 also showcases impressive growth figures, with a revenue of KD 1.9 billion (equivalent to USD 6.2 billion), marking a significant increase of 10 percent compared to the previous year. Key operational highlights include a notable 8 percent growth in data revenue, amounting to USD 2.4 billion, and strategic initiatives such as tower sales and leaseback arrangements in key markets like Saudi Arabia, Kuwait, Jordan, and Iraq.