Who are WARID Telecom?
Jan 13, 2008
THERE is more to WARID Telecom, Uganda’s fourth mobile telephone provider whose launch last week at Speke Commonwealth Resort defied all expectation. Flanked by President Yoweri Museveni, Sheikh Nahayan Mabarak Al Nahayan, WARID’s chairman, a new age in the mobile phone industry was ushered in.
THERE is more to WARID Telecom, Uganda’s fourth mobile telephone provider whose launch last week at Speke Commonwealth Resort defied all expectation. Flanked by President Yoweri Museveni, Sheikh Nahayan Mabarak Al Nahayan, WARID’s chairman, a new age in the mobile phone industry was ushered in.
But the question everybody wants to know is who exactly are WARID Telecom write Paul Busharizi and Timothy Bukumunhe
WARID Telecom are part of The Abu Dhabi Group, a very diversified company who have seven core investors - four of whom are from the ruling family of Abu Dhabi and the other three are well known businessmen in the United Arab Emirates (UAE) with His Excellency Sheikh Nahayan Mabarak Al Nahayan as chairman.
The core business of The Abu Dhabi Group is banking. They own the fifth largest bank in UAE, the Union National Bank; United Bank Ltd, the third largest bank in Pakistan in which they own a 51% stake and 80% stake in the Bank Al Falah.
They own hotels – the Royal Meridian and the Al Ain in Abu Dhabi and Movenbick Hotel in Dubai.
WARID Telecom is operational in Pakistan with seven million subscribers.
They launched in Bangladesh last year with an opening target of five million subscribers. They are also operational in Congo Brazaville. Their mobile investment in Uganda will see the country being the first country in Africa to adopt Wimax technology, a step up above current 3G technologies.
WARID also plan to establish a pharmaceutical plant for the local markets and for export. They also have palns of developing a shopping complex in Kampala, a five-star hotel, office space and residences as well as opening a branch of their bank, Al Falah.
If all goes according to plan, in the next few years, The Abu Dhabi Group should be one of the biggest investors in the country. They will not only be an investor in Uganda but will attract other investors from the region like they did in Pakistan. An initial $40m investment in Pakistan has now grown to $1.5b.
WARID Telecom hopes to have four million users within three to five years, and 1.5 million at launch date this week with a network coverage of almost 75% of the country.
But the question everybody wants to know is who exactly are WARID Telecom write Paul Busharizi and Timothy Bukumunhe
WARID Telecom are part of The Abu Dhabi Group, a very diversified company who have seven core investors - four of whom are from the ruling family of Abu Dhabi and the other three are well known businessmen in the United Arab Emirates (UAE) with His Excellency Sheikh Nahayan Mabarak Al Nahayan as chairman.
The core business of The Abu Dhabi Group is banking. They own the fifth largest bank in UAE, the Union National Bank; United Bank Ltd, the third largest bank in Pakistan in which they own a 51% stake and 80% stake in the Bank Al Falah.
They own hotels – the Royal Meridian and the Al Ain in Abu Dhabi and Movenbick Hotel in Dubai.
WARID Telecom is operational in Pakistan with seven million subscribers.
They launched in Bangladesh last year with an opening target of five million subscribers. They are also operational in Congo Brazaville. Their mobile investment in Uganda will see the country being the first country in Africa to adopt Wimax technology, a step up above current 3G technologies.
WARID also plan to establish a pharmaceutical plant for the local markets and for export. They also have palns of developing a shopping complex in Kampala, a five-star hotel, office space and residences as well as opening a branch of their bank, Al Falah.
If all goes according to plan, in the next few years, The Abu Dhabi Group should be one of the biggest investors in the country. They will not only be an investor in Uganda but will attract other investors from the region like they did in Pakistan. An initial $40m investment in Pakistan has now grown to $1.5b.
WARID Telecom hopes to have four million users within three to five years, and 1.5 million at launch date this week with a network coverage of almost 75% of the country.