Virgin Mobile Middle East and Africa, has announced plans to launch services in Kuwait.
Wafra Investment International, Impulse International, and Virgin Mobile Middle East and Africa have jointly announced the plan which will expand Virgin’s reach in the Gulf region.
Currently operating in Saudi Arabia, Oman and the UAE, Virgin Mobile Middle East & Africa serves three million customers across the region.
The company is set to launch in Kuwait before the end of this year, becoming the fourth service local mobile operator. a statement said.
Erik Dudman Nielsen, founder and CEO of Virgin Mobile Middle East & Africa, said: “We are thrilled to be launching our unique, digital-first proposition in Kuwait. Our presence, following other successful launches in the GCC, is a key part of our expansion plans for the region.”
Wafra International Investment Company CEO, Ghazi Al Hajeri, said: “Debt funding of $13 million has been provided by Wafra to allow expansion of the Virgin brand into the Kuwait market. This is the first investment of its kind, established to set up a virtual telecommunications network.”
Izzat Abou-Amarah, CEO of Impulse International for Telecommunications, said: “Impulse led the equity term sheet of $7 million for the Kuwait entity, which is a milestone for the telecom sector in Kuwait, as this is the first MVNO to enter the market.
“This fits perfectly with our strategy of introducing differentiated services through technology transfer. Impulse will be represented on the Board of Directors of the company.” Arabian Business