Zain to inject Sh25b into economy

• Zain International, formerly Celtel, is to inject Sh25 billion into the economy.
• Company intends to move its headquarters from Amsterdam, Holland to Nairobi.
• President says Kenya open for business investors.

Zain International, formerly Celtel, is to inject Sh25billion into the economy to bring its total investment in Kenya to 1billion US dollars.

Dr Saad Hamad Al Barrack, the company president said this during consultations with President Kibaki at State House, Nairobi.

He remains optimistic about the potentiality of the Kenyan market, the gateway to the region.

Dr Saad briefed the Head of State on the company’s plans of moving its headquarters from Amsterdam, Holland to Nairobi and in the process make Kenya the focal point of its business.

The President welcomed Zain’s decision and said Kenya is open for business investors.

The Government supports the removal of taxes on telecommunication equipment for rural infrastructure, the President said.

“The Government spending on Information, communication Technology (ICT) infrastructure especially the fibre optics will make the cost of telephones lower.”

President Kibaki said the new entrants in the market would enhance business competition by improving the quality of services and lowering the cost of communication to consumers.

“ICT is a key pillar in attracting the necessary economic development like in Asian Countries and job creation for Kenyan Youth.”

Dr Saad said he was confident that the Grand Coalition Government would achieve political stability and faster economic growth.

Dr Saad was accompanied by senior Company officials: Mr Rene Meza, Michael Okwiri and Mr Naushad Merali.

Also present were: Foreign Affairs minister Moses Wetang’ula, Information and Communications minister Samuel Poghisio and the Permanent Secretary Dr Bitange Ndemo.