By John Lee.
Zain Group Vice-Chairman and Group CEO, Bader Al-Kharafi (pictured), has said that he anticipates improved performances in Iraq, “where several tax and litigation issues have been resolved and the new leadership there can now focus on driving the business.”
In its results announcement for Q1, the company added:
“Despite the initiation of intense price competition in the market during Q1, 2017, coupled with continuing social unrest, Zain Iraq managed to achieve USD 253 million revenues due to impressive growth in data usage and numerous customer acquisition initiatives in the northern regions of the country.
“The operation’s efficiency drive saw EBITDA reach USD 86 million, reflecting a 34% margin. Zain Iraq leads the market serving 12.3 million customers.“