Second Mobile Network Licensed in Comoros

A group of Kuwaiti investors say that they have been granted a mobile license in Comoros, breaking the monopoly held by the government owned operator, Comoros Telecom (Comtel). Bachar Kiwan, leading a delegation of Kuwaiti investors promised an investment of around $40 million in the new company.

Click to enlarge


Map of Comoros

The new company, Comoro Gulf Holding is 10% held by the government and 90% owned by an unnamed Kuwaiti prince and other Arab investors. The group also plans to invest some $15 million in a local bank.

According to figures from the Mobile World database, the incumbent operator ended last year with just 56,000 GSM subscribers, which represents a miserly 7.8% population penetration.

Comoros is one of the poorest countries in the world. Economic growth and poverty reduction are major priorities for the government. With a rate of 14.3%, unemployment is considered very high. Agriculture, including fishing, hunting, and forestry, is the leading sector of the economy, and 38.4% of the working population is employed in the primary sector. However, a recent surge in investment is fueling a move towards tourism on the island nation.

Posted to the site on 22nd April 2008

Page Tools

 Email this article to a collegue

 Printer Friendly Version

 

Comments

Name
E-mail (Will not appear online)
Homepage
Title
Comment
To prevent automated Bots form spamming, please enter the text you see in the image below in the appropriate input box.



...previous article Next article...

Daily News Headlines

Get a free email of the news articles

Click for sample copy
Our privacy policy