Search ITRealms:

Featured post

Abandoned projects: Oyo people can't be fool all the time-Makinde - ITREALMS

ITREALMS:  The Oyo State Governor, Engineer Seyi Makinde said on Monday that the Oyo State chapter of the All Progressives Congress (APC...

Tuesday, April 03, 2007

Celtel goes on aggressive expansion, gets N182bn

In order to truly make home its promise to be on top of Pan African telecommunications deployment, Mobile Telecommunication Company (MTC) Group of Kuwait, owners of Celtel International, has said it would aggressively expand its operations in Nigeria.

This follows the announcement by the group to inject estimated $1.4 billion, about N182 billion in its operations this year into Celtel Nigeria.

It would be recalled that Celtel International B.V., a member of MTC Group ventured into Nigeria mid-last year following acquisition of 65 per cent controlling stake in Vee Networks (Vmobile Nigeria) now Celtel Nigeria, which it plans to inject new funding into the telco.

Chief Executive Officer and Vice Chairman, MTC Group, Dr. Sa’ad Al-Barrak, disclosed this development in Lagos, which would raise the total of Foreign Direct investment in Nigeria by Celtel to N2.5 billion, about N325 billion.

Addressing a conference in Lagos, Dr. Al-Barrak who made the disclosure during a in a maiden visit to the country, said that the new investment in Celtel Nigeria would enable the telco track aggressive infrastructure development and quality of service.

Joined at the event by top officials of the group including Moez Daya, Acting Chief Operating Officer, Celtel International; Tsega Gebreyes, Director, Business Development, Celtel International; Bayo Ligali, Chief Executive Officer, Celtel Nigeria; Khaled Al Hajeri, Chief Technical Officer, MTC Group; and Sam Deeb, Chief Financial Officer, MTC Group, he also said that the move demonstrates the group’s confidence in the Nigerian economy, which has witnessed a huge growth in mobile connections since 2001 when the country introduced Global System for Mobile communications (GSM) services.

Dr. Al-Barrak further said the group will pursue an aggressive expansion in Nigeria, stressing that the country by virtue of its huge market size and relevance to the political and economic fortunes of the continent will play a significant role in its plan to become a global operator by the year 2011.

“We are poised to make aggressive strides in Nigeria. We will fly, not run. We are committed to the Nigerian economy and looking forward to developing the mobile industry. In Nigeria, we want to be a Nigerian operation but with a global outlook in operation” he said.

Equally, Dr. Al-Barrak said MTC look forward to make history in Nigeria and in a number of other countries where we have presence.

“MTC Group has operations in 20 countries of the world, including 15 countries in Africa. We have become one of the leading mobile telecom companies in the Middle East and Africa and are pursuing a global vision with our ‘3x3x3 profitable expansion plans. We are driven by the right vision and strategy; we have exceptional expertise worldwide, which is why we are the leading operator in 14 out of our 20 operations” he said.

Joined at the event by top officials of the group including Moez Daya, Acting Chief Operating Officer, Celtel International; Tsega Gebreyes, Director, Business Development, Celtel International; Bayo Ligali, Chief Executive Officer, Celtel Nigeria; Khaled Al Hajeri, Chief Technical Officer, MTC Group; and Sam Deeb, Chief Financial Officer, MTC Group.

As well, some top notcher of Celtel Nigeria Officers including Boye Olusanya, Deputy Chief Executive Officer, Celtel Nigeria; Lars Stork, Chief Operating Officer, Celtel Nigeria; Chuma Okoye, Chief Commercial Officer, Celtel Nigeria; and Chris Tiffin, Chief Finance Officer, Celtel Nigeria; Roy Masaba, Chief Human Resources Officer, Celtel Nigeria and Thomas Jonnel, Chief Technical Officer, Celtel Nigeria.


ITREALMS Online ... delivering news for ICT4D

No comments:

Konga