Etisalat Wins License To Launch Operations In Benin Republic VENTURES AFRICA – Etisalat Group at the weekend said it had been awarded a permit to launch operations in Benin Republic, West Africa. UAE’s 60 percent state-owned telecoms titan said Etisalat Benin, a wholly owned firm of Etisalat Group, said the license will allow it to supply third and fourth generation (3G and 4G) in the country for the next two decades. “Etisalat Benin strives to pioneer telecommunications services in Benin, an African country with huge potential for future growth and development,” it said in a statement. “The company invests in the future of mobile services technologies that will provide citizens, businesses and communities with the means for economic growth and success.” Etisalat has operations in 15 countries in Africa, the Middle East and Asia with a staff complement of about 42.000 people. Currently, the company is in a fierce competition with Qatari telco, Ooredoo, for a Vivendi’s stake in Maroc Telecom, Morocco’s state-owned telecoms company which is up for sale. In April this year, it posted net quarterly income of AED1.82 billion ($495 million) – a one percent surge from the comparable period. Earlier this year, in an effort to gain market share in Nigeria, the Nigerian unit of the UAE-based mobile phone operator, Etisalat, said plans were afoot to spend $500 million in network expansion in the Nigerian market this year. Wael Ammar, Etisalat commercial officer, said the firm would raise money from the Nigerian banks. Source: Ventures
Posted on: Tue, 11 Jun 2013 08:19:20 +0000