For those of that do not know, Zain is the year-old brand name of the Kuwaiti company that was formerly known as ‘Mobile Telecommunication Company’. More commonly known as MTC, it was actually the region’s first mobile operator when it was launched in 1983.
The name Zain was chosen firstly because, “it fulfilled the philosophy of simplicity being the soul of strategic management,” and secondly because it translated well. In Arabic, Zain means ‘beautiful, good and wonderful,’ and in Latin it means ‘dark horse’.
This corporate make-over was the brainchild of Dr. Saad Al Barrak, an electrical engineer with degrees from Ohio, London and Harvard, who was appointed ceo in 2002. But the most ambitious program Al Barrak implemented was his ‘3x3x3’ expansion strategy set to the motto ‘Be first, Be daring and Be different.’
This plan sought to make Zain a global player in three stages: regional, international and global, with each stage completed in three years. Now, six years on, the fruits of his labours are demonstrated by key figures. The company has gone from operating in just one country with a subscriber base of 600,000 customers to operating in 22 countries with more than 50 million customers. Additionally in this period, the company’s market capitalization has grown by a multiple of ten to exceed 27 billion USD and this year’s projected revenues are expected to exceed 7 billion USD.
“Now, we are entering a new and dynamic chapter in our history,” Dr. Al Barrak, conferred, “one that will take us into the top ten of global mobile telecommunications companies.”
But his corporate ambitions do not stop there. He wants Zain to be the first communications company in the world to enter the global list of top 100 companies. Only a fool would bet against him achieving it.
Ceo Dr. Saal Al Barrak
Company Zain
Headquarters Bahrain
Why Made a multinational out of a local Kuwaiti company. Now operates in 22 countries in the Middle East and Africa.
www.zain.com
